Large Cardano holders bought more than 100 million ADA in a single 24‑hour window in early January, yet the token remained capped under the $0.40 level. The disconnect reflects simultaneous accumulation and heavy selling among large addresses, leaving price action stuck in a narrow range.
Reports from early January 2026 showed whales accumulated in excess of 100 million ADA within 24 hours, a pattern that echoed earlier pileups: in November 2025 whales amassed about 348 million ADA (roughly $204.3 million), and further accumulation was logged in mid‑December 2025.
At the same time, on‑chain data revealed large addresses offloaded roughly 350 million ADA as of January 2026, and one report detailed a 100 million ADA sale over three days. Those opposing flows created a push‑and‑pull dynamic that neutralized the immediate impact of buys.
Traders and treasuries saw the move as strategic accumulation, but net flows failed to produce a sustained breakout because other whales dumped substantial volumes during the same period.
Technical picture and macro headwinds
The $0.40 mark hardened into a technical and psychological ceiling after ADA failed to reclaim it following the January 8, 2026 pullback. Price action consolidated into a falling‑wedge configuration, with frequent tests of the $0.37–$0.40 band but no decisive close above resistance.
For market participants, the key issue was not whether smart money was buying one-off lots, but whether net flows across wallets and exchanges would flip sufficiently positive to absorb the large blocks being sold. Until that net balance shifted, rallies failed to sustain.
Investors and treasury managers are now watching whether buying across large addresses can outpace the recent wave of disposals to force a reclaim of $0.40; that outcome will be the practical test of the accumulation thesis.
If net inflows accelerate, short‑term volatility could give way to a clearer bullish trend; if selling persists, ADA risks further consolidation or downward pressure. Risk managers should size positions accordingly and monitor on‑chain flows and large transfers as near‑term directional signals.
