Cardano’s Wallets Emptying: $64M in Minutes! 🚪💸

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As the broad cryptocurrency market continues to show mixed price actions, Cardano has also suspended its rally, and it is now trading in the red zone. Or as the ancient Romans would say, “Beware the bear, for it has a penchant for red ink.”

Amid this negative market trend, whales have also been spotted increasingly dumping off the ADA tokens in what looks like major selling attempts. Or perhaps they’re just trying to get a better view of the ocean from the deck of their crypto yacht. 🐋💸

150,000,000 ADA return to Binance

On Tuesday, Dec. 9, on-chain monitoring firm Whale Alert has identified three massive crypto transfers, involving a combined total of 150,000,000 ADA being moved to the world’s largest cryptocurrency exchange, Binance. Or as the locals call it, “The Great Exchange of All Things.”

The large ADA deposits, which have attracted the attention of the crypto community, happened in three separate identical transactions that were carrying 50,000,000 ADA each. Coincidence? I think not. 🎯

Notably, the data shows that all three ADA transfers were worth over $64 million, based on ADA’s price at the time of the transfer. Or as a certain dragon might say, “A hoard of coins, but not mine!” 🔥

While the intent behind the transfers remain uncertain, they are perceived to be major sell attempts, as large amounts of crypto tokens returning to centralized exchanges like this are often traced to high-profile investors or institutions moving to sell their assets. Or, you know, just a very poor choice of vacation destinations. 🏖️

At the time of the transaction, Cardano had slid from the positive side of the market into red territory, showing a price decline of 0.86% over the last day. A drop so dramatic, it could make a seagull weep. 🦜😭

Nonetheless, data from CoinMarketCap shows that ADA is trading at $0.4290 as of press time, after recording an intraday high of $0.44. A price so volatile, it’s like a disco ball in a tornado. 🕺🌀

Thus, as sentiment appears to be shifting amid weakening interests fueled by the recurring price corrections, Cardano whales have sold about $64 million worth of its native tokens in just minutes. Or as the wise old owl might mutter, “Another day, another dollar… or in this case, another dollar gone.” 🦉

ADA open interest explodes on Binance 

Despite Cardano’s slow price movements, its derivatives markets have remained on the positive side as the assets record a decent increase in its futures open interest volume across all exchanges. Or as a nervous trader might say, “It’s not a crash, it’s a ‘strategic retreat’!”

Notably, the data showcased by CoinGlass shows that Cardano has seen one of the highest daily surges on Binance. With about $138.86 million registered in its active futures contracts as of press time, ADA’s open interest on Binance has surged massively by over 7%. A 7% surge so impressive, it could make a penguin do a backflip. 🐧💥

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2025-12-09 15:30