Cardano Whales Fuel Price Rebound Amid Market Value Surge

Cardano's large holders have accumulated over 30 million ADA in the past week, briefly pushing the token to the 15th spot by market capitalization. According to on-chain data firm Santiment, this accumulation is part of a steady trend and not just one-off trades.

The move has caused some market activity, with Cardano edging past Stellar (XLM) in the rankings overnight before slipping back to 16th place. However, the gap between the two tokens remains relatively small, leaving open the possibility for further ranking changes.

Cardano's price has also seen a rebound, trading at $0.1666 with a 4.2% gain over the past seven days. This improvement in sentiment and whale accumulation is supporting both price and market value.

The long-term outlook remains positive, with Cardano founder Charles Hoskinson reaffirming his previous view that ADA could re-enter the top 10 by market value before year-end. To achieve this, Cardano's market value would need to rise approximately 76% to around $11.25 billion, assuming Dogecoin (DOGE) remains in 10th place.