Cardano Price Soars 12% as Whales Fuel Breakout
Cardano's price has surged nearly 12% over the past week, making it one of the top performers in the crypto market. This gain is largely due to the accumulation of ADA by whales, who have added over 240 million tokens in just five days. As a result, their total holdings now stand at around 14.5 billion ADA.
The buying pressure has been strong enough to push the price above the $0.181 level, which is seen as a key resistance point. If the price can hold onto this level, it could pave the way for further gains, potentially reaching up to $0.20. However, if sellers manage to push the price below $0.181, it could trigger a retest of lower levels.
The rising futures market activity also suggests that traders are increasingly optimistic about Cardano's prospects. The token's market capitalization has risen to around $6.75 billion, making it one of the largest digital assets by market value.