Cardano Surges on Upgrade Roadmap and Whale Accumulation

Cardano's price surge of around 3.6% over the last 31 hours is attributed to a combination of factors, including its upgrade roadmap and whale accumulation.

The van Rossem hard fork on July 18 upgraded Cardano to Version 11, improving Plutus performance, ledger consistency, and node security, and it's seen as a stepping stone towards the next 'Dijkstra era' of scaling.

Large buyers have been aggressively accumulating ADA, with Santiment-based analysis showing wallets holding 100 million to 1 billion ADA accumulated over 240 million ADA in less than a week, bringing their holdings above 14.3-14.55 billion ADA, roughly 39% of circulating supply.