Cardano: After a Strong September, October Looks More Uncertain

Cardano ended September with an increase of about 23%, but some large crypto investors are beginning to lighten their positions. Since September 20, whales have reportedly sold nearly 90 million ADA, about 22.5 million dollars. At the same time, open interest on futures contracts has declined by 9%. After the rally, the market is therefore much more cautious.

In brief

Crypto whales start selling their ADA

The movement concerns about 90 million ADA sold since September 20. At the price levels noted during these transactions, this represents approximately 22.5 million dollars. Cardano had already experienced a similar phenomenon this summer. In August, Cointribune observed a reduction in the exposure of large holders after a previous ADA rebound.

This time, sales come after a particularly strong month. ADA gained around 23% in September before losing part of that gain during the last days of the month.

The indicator does not automatically signal a new drop, of course. It mainly shows that the September rally now faces more profit-taking. For whales, the timing is clear: they sell after the rise.