In the past 48 hours, Cardano whales have acquired over 20 million ADA, indicating significant interest from large investors. The current trading price of Cardano is $0.897, with a 2.78% increase in the past 24 hours. The market cap is $31.51 billion, and the circulating supply is 35.13 billion ADA. The 24-hour trading volume has surged by 19.82% to $526.83 million, resulting in a market-cap ratio of 1.62%.

Cardano recently introduced the CIP-1694 proposal, which contributes to its decentralized governance objectives. This successful mainnet hard fork is a major milestone for the platform, aligning with Cardano's vision of full community-driven governance.

Technical indicators suggest a bullish outlook for ADA, with slight upward momentum shown by the 4-hour RSI at 52.90. Moving averages present mixed signals, with the 20-period MA acting as immediate support and the 50-period MA closer to the current price. Breaking the resistance at $0.900 could lead to ADA reaching $0.920 or higher.

The Chaikin Money Flow (CMF) indicates positive capital inflows and increasing investor interest, potentially driving ADA above current resistance levels. The rise in whale activity, trading activity, and strong technical indicators reflect optimism among investors, indicating the potential for further price gains if bullish trends continue for ADA.



Other News from Today