Cardano, the third-largest cryptocurrency, is experiencing significant price growth and increased whale activity, drawing attention from both institutional and retail traders.
Current Market Indicators for Cardano
At present, Cardano is trading at $0.88, having risen more than 11% in the past 24 hours. Trading volume has also increased by over 103%, with daily transactions surpassing $2.5 billion. The cryptocurrency’s market capitalization stands at $31.35 billion, while its fully diluted value is $39.63 billion.
Increased Whale Activity and ETF Speculation
Whale activity has surged, with over 200 million altcoins accumulated in 48 hours. This surge correlates with predictions suggesting a 75% chance of Cardano ETF approval. Enhanced interest from both retail and institutional sides echoes the market environment of 2021.
Technical Indicators and Network Security Developments
Cardano’s price is testing the short-term resistance area between $0.88 and $0.90. A confirmed breakout above this range may lead to a target price of $0.94–$0.97. Current data indicates that long-term holders are not distributing their assets, which elevates confidence in further growth. Founder Charles Hoskinson announced security improvements within the network.
Current analyses suggest a positive outlook for Cardano, bolstered by price growth, investor activity, and strengthened network fundamentals.
