Despite continued delays and network updates, ADA whales have been accumulating the cryptocurrency, even as it struggled to break past $0.40. Over the past two weeks, whales holding between 100 million to 1 billion ADA have acquired 560 million ADA, worth around $218.4 million. The launch of Cardano’s native Djed stablecoin has played a role in improving investor sentiment towards the cryptocurrency, with high levels of whale activity signalling increased utility for transactions. The total number of addresses in the Cardano network is also steadily rising. Recent developments in the Cardano ecosystem include the integration of oracles by Liqwid and the release of new cross-chain network integration by Paima Studios.
Cardano’s Price Trajectory
Cardano’s price has improved since the beginning of the year, with YTD gains of 56%. Despite a major drawdown in the second week of March, the cryptocurrency was up nearly 26% in the past month. This positive price trajectory is a bullish sentiment that could bolster investor confidence in ADA’s long-term growth potential.