Cardano has recently surpassed the price mark of $0.44, driven by a significant increase in activity among large holders, known as whales. This marks the highest level of whale activity observed in three months, reflecting an optimistic market sentiment.
The current surge in Cardano's value represents the cryptocurrency's first successful breach of long-standing resistance levels since mid-2023. This achievement is attributed to the notable influence of significant stakeholders in its ecosystem.
According to on-chain metrics from Santiment, transactions exceeding $100,000 have reached peak levels not seen since early September. This indicates a renewed interest and confidence among major investors in Cardano's potential.
The increased whale activity and positive market sentiment may set the stage for further bullish movements in Cardano's price, potentially leading to new highs in the coming months.
