Cardano Surges 26%, Reaches One-Month High Amid Strong Whale Accumulation

Cardano's price has surged by 26% over the past week, pushing it to a one-month high of $0.195. This significant rally has allowed ADA to outperform the broader crypto market and surpass several major cryptocurrencies in terms of market capitalization.

The recovery is attributed to strong whale accumulation and improvements in on-chain indicators. Additionally, Cardano's DeFi ecosystem has shown signs of recovery, with total value locked (TVL) rising 9% over the past week.

Despite declining network participation, Santiment suggests that stronger buyers are absorbing available supply, indicated by rising ADA prices alongside a falling wallet count. The data also links the recovery to Cardano's ecosystem developments, including progress on the Leios testnet and Hydra scaling.