Cardano whales sell over 130 million ADA as price clings to $0.24 support

Over the past week, Cardano whales reportedly sold more than 130 million ADA while still holding about 13.55 billion tokens, as the price retests support near $0.24. Technical analysis suggests ADA needs to remain above this level to avoid a potential drop toward $0.112, while a renewed accumulation phase could open the way for a move toward $0.538. Despite a market cap of around $9.7 billion, the network's TVL of about $140.64 million and sharply lower daily active addresses highlight ongoing concerns over ADA's on-chain utility.