Cardano Surges Over 9% After Major Protocol Upgrade and Whale Accumulation

Cardano's price surged by over 9% after a major protocol upgrade and significant whale accumulation. The Van Rossem hard fork to Protocol Version 11, which was completed on July 18, improved Plutus performance, ledger consistency, and node security through on-chain governance.

The recent whale accumulation of over 30 million ADA has pushed large-holder ownership to nearly 70%, with the real-world asset ecosystem expanding to $55.3 million.

Despite this bullish momentum, the ADA/USD price remains below its 200-day moving average at $0.24, indicating a longer-term selling pressure.