In the past 48 hours, Cardano (ADA) has shown notable movement in the cryptocurrency market, highlighting increased investor activity.
Recent Activity Around Cardano
According to analyst Ali, over the last two days, large investors purchased more than 20 million ADA. This could indicate increasing confidence in the project amid the implementation of new platform features.
Network Upgrade and Its Significance
On December 21, the organization Intersect announced the submission of the Plomin hard fork governance action to the mainnet for ratification. This step is the final stage towards the full implementation of governance defined in CIP-1694, expected to take place between January 4 and 29, 2025, marking the end of the technical bootstrapping phase.
ADA Price Changes
Amid the general recovery of the cryptocurrency market, ADA showed a 1.75% growth in the last 24 hours, reaching $0.887. It recovered from a low of $0.85 and may aim to break the $1 barrier. If ADA surpasses $1, it might continue to rise to $1.20, while a decline below $0.76 could signal the start of a downward trend.
Increased activity from large investors and the upcoming network upgrade create positive prospects for ADA in the market, despite its symbolic price below $1.
