Whales are showing growing interest in ADA, purchasing over 20 million ADA within the last 48 hours. The CIP-1694 proposal bolsters Cardano's decentralized governance features.
Rise in Whale Interest
Whales have accumulated over 20 million ADA in the past 48 hours, signalling strong interest. Currently, ADA trades at $0.897, up 2.78% in the past 24 hours. Market cap is $31.51 billion, with 24-hour trading volume rising by 19.82% to $526.83 million.
CIP-1694 for Decentralized Governance
Cardano continues its push towards decentralized governance with the recent CIP-1694 proposal. The successful mainnet hard fork marks a significant milestone, reinforcing Cardano's vision of community-driven governance.
Bullish Indicators for Cardano
Technical indicators suggest a bullish outlook for ADA. The 4-hour RSI is at 52.90, indicating slight upward momentum. Should the RSI break above 60, stronger momentum is expected. Moving averages show mixed signals with the Chaikin Money Flow (CMF) at 0.04, suggesting positive capital inflows. If bullish trends persist, ADA could see further price gains.
The ongoing rise in whale interest, combined with initiatives in decentralized governance, may signal positive prospects for Cardano and its community.
