Cardano Leads Crypto Market Surge with 11% Weekly Gain

Cardano (CRYPTO: ADA) has emerged as the top performer among large-cap cryptocurrencies, defying losses among market heavyweights. The token surged by nearly 11% over the last seven days, reaching a near one-month high during this period.

This impressive rally put ADA ahead of other major coins, including BNB Coin (CRYPTO: BTC) and Bitcoin (CRYPTO: BTC), which saw relatively modest gains of 1.22% and 0.56%, respectively. In stark contrast, Dogecoin suffered a sharp loss of 9.86%.

According to Ali Martinez, a widely followed cryptocurrency analyst, the surge in ADA's price can be attributed to aggressive accumulation by whale investors. Martinez pointed out that whale-held ADA increased significantly from July 29 to July 31, as seen on the Santiment chart.