Whale Buying Spree Fuels Cardano's 12% Surge
Cardano's ADA token has seen significant buying activity from large investors, also known as whales, over the past five days. According to on-chain analytics platform Santiment, these whales accumulated more than 240 million ADA tokens during this period.
This influx of capital has tightened market liquidity and reduced the available supply on exchanges, potentially amplifying price movements in response to fresh buying interest. As a result, Cardano's ADA token has climbed nearly 12% over the past week to trade around $0.184.
The latest development roadmap for Cardano, which includes improvements for smart contract execution, scalability, and developer throughput, has also contributed to investor optimism. Intersect, the member-based organization coordinating Cardano's decentralized governance, outlined the first steps toward the Dijkstra hard fork era after the community approved Protocol v11, or the Van Rossem hard fork, through on-chain governance.
Market participants have responded by increasing activity across derivatives markets, with Cardano futures trading volume climbing 33.95% over the past 24 hours to about $773.9 million.