Cardano's Price Rally Defies Ecosystem Woes as Larger Buyers Steal the Show

Cardano's price has been steadily rising since July 28, reaching a high of nearly $0.199 today, despite major problems affecting its ecosystem.

The network has lost over 7,000 nonempty wallets in the past two months, and several native projects have closed due to low revenue and high operating costs.

However, recent data from Santiment suggests that larger buyers are absorbing the ADA sold by departing retail holders, which may be contributing to the price recovery.

The market capitalization of Cardano has increased by 24% in the past week, making it one of the strongest performers in an otherwise disappointing altcoin market.