Cardano Whales’ Massive 100 Million ADA Token Grab in 48 Hours!

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In the last 48 hours, whales accumulated more than 100 million Cardano (ADA) tokens. This surge came as the cryptocurrency’s value rebounded along with a general upturn in the wider crypto market.

As per information from the blockchain analysis company Santiment, which was recently highlighted by well-known crypto analyst Ali Martinez on his Twitter account, it’s been found that large Cardano investors (whales) bought approximately 100 million tokens within a span of merely two days.

Currently, ADA is being traded at approximately $1.062, marking an increase of more than 14% over the past seven days. Earlier in January, the cryptocurrency dipped to a low of $0.9 on the 13th, but it has since experienced substantial growth and reached its current high.

The cost of Cardano is increasing due to a market rebound that appears to have begun following news about potential changes in the U.S. Securities and Exchange Commission’s cryptocurrency regulations under the incoming Trump administration, aiming to provide clearer guidelines for participants in the crypto market.

Cardano is currently experiencing numerous significant advancements. One notable instance is the Plomin hard fork, a substantial update that follows the groundwork laid by the Chang hard fork in September. This hard fork gives ADA token owners the opportunity to actively contribute to the protocol’s future through its governance system directly.

By assigning their voting rights to Delegated Representatives (DReps) or becoming DReps themselves, ADA token holders acquire the capacity to participate in on-chain voting. Beyond decision-making, the hard fork incorporates several technical advancements, such as new Plutus functions that strengthen smart contract capabilities and offer better assistance for Stake Pool Operators.

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2025-01-16 17:21