Cardano (ADA), the eighth largest cryptocurrency by market capitalization, has recently seen an increase in whale activity.
Cardano (ADA), the eighth largest cryptocurrency by market capitalization, has recently seen an increase in whale activity.
According to the cryptanalyst AliCardano whales have purchased over 14 million ADA, worth around $8.40 million, in the last two weeks alone.
These large holders, known as whales, appear to be optimistic about Cardano’s prospects as the year 2024 approaches, accumulating millions of ADA in a short period. This indicates that they expect the price of ADA to rise soon.
The expectations surrounding the Cardano ecosystem in 2024 could be one of the reasons for the whale buildup.
The Cardano Network event, “The Chang Hard Fork,” will be the first step towards establishing a minimally viable community-run government. It will be implemented with the approval of the Cardano community using the consensus mechanism developed with this hard fork.
The Chang hard fork will kickstart the bootstrapping model of Cardano’s governance model.
Cardano is also expected to move towards full Cardano community governance in 2024. Cardano will take important steps towards full Cardano community governance in 2024.
Cardano founding workshops, a convention, and many voting events, among other things, are scheduled for 2024, as are additional advancements from Intersect.
The founder of Cardano, Carlos Hoskinsonexpressed his expectations for 2024, posing a question to his X followers if they were ready for an incredible 2024.
Cardano’s native cryptocurrency ADA has recovered from the lows of $0.54 hit on January 3 during the big market crash. At the time of writing, ADA was up 2.59% in the last 24 hours to $0.565.
