Cardano (ADA) has seen a significant price increase, with over 17% growth within 24 hours, following a broader market surge. This growth aligns with the gains seen across various cryptocurrencies, reflecting renewed interest and positive momentum in the crypto space. Cardano’s strong performance has pushed it past key resistance levels, reflecting renewed investor interest and outperforming other top crypto markets in recent gains.
Record-breaking address activity and increased whale transactions fueled this surge. A record of 37,892 unique ADA addresses engaged in transfers in a single day, marking the highest address activity since early September. Additionally, substantial transactions of $100,000 or more reached 697 on the same day, the highest count since early September.
This sustained increase in address activity and whale transactions indicates heightened market confidence and potential FOMO building among retail investors. Crypto analysts have hinted at a 100% upside potential for ADA, with technical indicators and volume profile showing increased buying interest and a shift in momentum.
As Cardano rides this bullish wave, the community watches closely to see if the momentum will continue.
