Cardano Whales Harster en masse: Bought more than 1 billion tokens

Cardano (ADA) continues to attract attention, especially since Grayscale Investments submitted an application for a spot ETF to follow the price of the cryptocurrency. But it is not only the institutional interest that the recent price increase drives. The larger investors, or the Cardano-Whales, also play an important role in current growth.

Whales have been buying continuously for 15 months

According to data from Santiment, a reputable market research service, ADA has recently increased by 11% in market value, while many other cryptocurrencies fell in value. The actions of Whales appear to be an important factor behind the recent revival of the ADA prize.

Since the end of November 2023, wallets with more than one million ADA are constantly offering. These wallets have collected a total of 1.41 billion ADA, good for a value of around 1.1 billion dollars. This represents around 2.35% of the total stock. It is striking that these whales have been buying continuously for more than fifteen months, and this clearly influences the price of the cryptocurrency.

Since then, the price has risen by no less than 107%, despite the volatility on the market. The influence of Whales on this increase is clear: they play a crucial role in recent price development.

CARDANO ETF’S EN PLOMIN HARD FORK

In addition to the upcoming Grayscale ETF, Cardano recently implemented the Plomin Hard Fork. The successful implementation of the Plomin Hard Fork marks an important step in Cardano’s development. This upgrade completes the transition to a system in which ADA holders have the power over the network, which is unique in the cryptocurrency world.

The recent implementation of the Plomin Hard Fork enables Cardano to distinguish itself even more strongly from other blockchain projects. The introduction of ‘community governance’ not only ensures more decentralization, but also increases the confidence of both institutional and private investors.

Thanks to a greater involvement of the community and new opportunities for innovation, Cardano can position itself in the future as a leading platform for decentralized applications (Dapps) and Defi projects. These developments can further drive the price of ADA, since both technology and the network continue to improve and expand.

At the time of writing, the price of Cardano is $ 0.7902, a decrease of 1.28% in the last 24 hours. Despite the short -term correction, the long -term prospects remain strong.

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