The cryptocurrency market is witnessing interesting changes in the price dynamics of Cardano (ADA), with increasing investor activity and noticeable accumulation by large holders.
Current Price Level Analysis of Cardano
At press time, the price of Cardano is $0.9261, which is 12.84% higher compared to last month and 7.53% in the last day. The cryptocurrency has recovered from August lows when the price fell to $0.70, and is currently consolidating around $0.90, testing resistance. The initial resistance is at $1.16, a breakthrough of which may trigger a long-term rally.
Accumulation by Large ADA Holders
In the past two weeks, large holders have purchased 150 million ADA, indicating a high level of confidence in the cryptocurrency's future. Holders between 1 million and 10 million ADA have increased their supply to 5.59 billion tokens. In the last 48 hours, they bought another 180 million ADA, reinforcing the already observed trend. Such accumulation can influence the overall market sentiment and attract the attention of smaller investors.
Network Growth and User Activity
Cardano has exceeded 113 million transactions on its mainnet, confirming steady blockchain activity. Trading volumes rose by 65.69%, reaching $2.37 billion per day. This activity improves market liquidity and creates a foundation for sustainable price movement. The restricted circulating supply of ADA at 35.69 billion against a maximum supply of 45 billion enhances its value as an investment asset.
With current market conditions, including active accumulation by large holders and increased network activity, Cardano may become an interesting investment opportunity, especially amid the potential breakout of key resistance levels.
