Cardano (ADA) Rallies 12% as Whales Accumulate 819M Tokens and Grayscale Increases Exposure

TLDR

Table of Contents

Cardano (ADA) experienced a sharp 12% price increase in one trading session, moving from approximately $0.26 to surpass $0.31
Large wallet holders accumulated approximately 819 million ADA tokens during the past half-year period
Grayscale increased Cardano’s allocation in its Smart Contract Platform fund to exceed 20% weighting
Technical analysis reveals an ABC wave pattern on shorter timeframes with a projected upside target at $0.38
Open interest in ADA futures contracts grew by approximately 30% within 24 hours, indicating new market participation

Cardano (ADA) experienced a significant 12% price appreciation on February 26, pushing from the $0.26 level to exceed $0.31. The move was accompanied by trading volume that reached nearly four times typical levels.

This upward move came after an extended period of price consolidation around a critical support area ranging from $0.24 to $0.26. Notably, this zone coincides with ADA’s previous cycle low.

Prior to the rally, ADA had touched $0.220 on February 6 before recovering. The $0.24–$0.26 region has subsequently served as a reliable floor for price action.

Blockchain analytics reveal that major token holders have acquired approximately 819 million ADA over a six-month timeframe. This accumulation occurred during a price downtrend, indicating these investors considered the decline a strategic buying opportunity.

🐳🦈 Cardano's key whales & sharks have quietly been accumulating over the past 6 months. While its price has fallen over 71% from $0.90 to $0.26, wallets with 100K-100M $ADA have added +819.4M more ADA ($213.9M) & +1.6% of the total supply. pic.twitter.com/rmyfi8E0XV
— Santiment (@santimentfeed) February 24, 2026

Investment firm Grayscale increased Cardano’s weight in its Smart Contract Platform Select Capped Index fund to over 20%. This positioning makes ADA the third-largest asset in the portfolio.

Institutional and Whale Buying

While Grayscale’s rebalancing follows index methodology requirements, it nonetheless underscores ADA’s prominence among leading smart-contract blockchain platforms.

Derivatives markets showed futures open interest climbing nearly 30% within a 24-hour window. Market observers interpret this expansion as evidence of new capital deployment rather than mere liquidation of short positions.

Momentum indicators show the RSI has not yet entered overbought conditions, suggesting additional upside potential remains from a technical perspective.

ABC Pattern and Key Price Levels

Technical analyst SmellyTaz highlighted a bullish ABC Elliott Wave formation developing on the ADA/USDT four-hour timeframe. The initial impulse wave (A) extended from $0.22 to $0.28 on February 6. The corrective wave (B) descended to $0.25 by February 11.

The third wave (C) initiated from that correction low but encountered resistance at $0.30 on February 15. Subsequently, ADA retreated to a support area between $0.26–$0.27, identified as the BC retracement level.

Wednesday’s intraday peak of $0.31 remained below the projected wave C completion target. Since that high, ADA has corrected approximately 6%.

The technical analyst anticipates Cardano will revisit a “reload” support band between $0.27 and $0.28. A reversal from this zone could finalize the ABC wave structure with an upside objective near $0.38.

The bullish pattern would be negated should ADA breach below the BC2 support region.

Cardano’s creator Charles Hoskinson recently emphasized the forthcoming Midnight privacy protocol, which has secured preliminary partnerships and focuses on enterprise adoption with regulatory compliance features.

The total value locked across the Cardano ecosystem has yet to reclaim prior peak levels despite the recent price recovery.

Immediate support for ADA is positioned around $0.31, while overhead resistance appears near $0.34 alongside the 50-day moving average.