Over the weekend, Cardano (ADA) saw a significant rebound along with other top altcoins. According to CoinMarketCap, Cardano’s price is currently at $0.4221, up by 5.29% in the past 24 hours. The cryptocurrency has formed strong support above the $0.4 price mark, backed by on-chain activity, including large transactions by whales.
Data from IntoTheBlock (ITB) shows that Cardano whale transactions have increased by over 4.5% in the last 24 hours, totaling $8.87 billion. Only Bitcoin has recorded higher whale transaction volumes among digital currencies. A total of 21.87 billion ADA has been moved by whales in the past 24 hours, contributing to the ongoing price rally.
Despite its volatility, Cardano remains focused on development. The blockchain continues to release updates to support the growth of its coin. The upcoming Chang upgrade is set to transition the ecosystem to a self-governing one, with the goal of entering the Voltaire Era. This milestone, along with the recent whale transactions, could have a significant impact on Cardano’s future.