Summary
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Significant Whale Activity Boosts ADA: Cardano has seen a surge in on-chain activity with “whales” acquiring 40 million ADA (worth $31.6 million), a key factor in its recent 20% price increase to $0.7942, though it faces resistance between 0.77-0.80.
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Cardano Joins Grayscale’s Large Cap Fund: ADA has been officially included in Grayscale’s Digital Large Cap Fund (GDLC), securing the fourth spot for 1-week gains (8.6%) among the fund’s top 10 crypto assets.
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Growing Institutional Confidence Indicated: Cardano’s presence and performance within the Grayscale fund suggest increasing exposure and growing confidence from institutional investors, such as wealth managers and hedge funds, in its long-term utility.
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Founder Optimistic on Future Speed: Cardano’s founder, Charles Hoskinson, believes the upcoming Ouroboros Leios upgrade will significantly enhance the network’s capabilities, potentially making ADA the fastest cryptocurrency.
The Cardano network is experiencing a notable increase in on-chain movements, highlighted by recent substantial acquisitions from large-scale investors, or “whales.”
Substantial ADA Accumulation Fuels Price Momentum
These entities have reportedly accumulated 40 million ADA tokens, valued at approximately $31.6 million. This intensified purchasing activity has significantly contributed to Cardano’s upward price trajectory.
Data from CoinGecko indicates that ADA, ranked as the ninth-largest digital currency by market capitalization, has appreciated by 20% over the preceding week, reaching a price of $0.7942 at the latest reporting.
Critical Price Threshold Faces Cardano
Despite this positive momentum, Cardano currently faces a significant technical hurdle, trading within a critical resistance band identified between $0.77 and $0.80. The asset’s ability to navigate this price level will be pivotal for its short-term direction.
Cardano Gains Prominence in Key Grayscale Investment Product
Further bolstering its profile, Cardano has been formally incorporated into Grayscale Investments’ Digital Large Cap Fund (GDLC). As highlighted by crypto commentator Nala, ADA has secured the fourth position among the top ten crypto assets within Grayscale’s fund based on its 1-week performance, registering an 8.6% gain.
The GDLC, offered by prominent asset manager Grayscale Investments, provides investors with access to a diversified basket of leading large-capitalization digital currencies.
Cardano’s inclusion and its notable weekly performance (trailing only Ethereum, SUI, and Dogecoin in this specific ranking) signify expanding visibility and accessibility for ADA among institutional players, including wealth management firms and hedge funds.
This development is interpreted as an indicator of increasing institutional belief in Cardano’s foundational utility and long-term investment potential.
Founder’s Vision for Future Cardano Performance
Adding to the positive outlook, Cardano’s founder, Charles Hoskinson, has expressed strong confidence in the cryptocurrency’s future, envisioning it as potentially the fastest globally.
This optimism is largely predicated on the anticipated enhancements from the forthcoming Ouroboros Leios protocol upgrade.
Also Read: Cardano’s Ouroboros Leios Update Aims Blockchain Dominance
Cardano is preparing to launch its Ouroboros Leios upgrade, a result of eight years of research. The upgrade features a novel multi-layered block structure, including input, ranking, and endorsement blocks, designed to boost transaction processing speeds and potentially outperform competitors. Leios aims to achieve tens of thousands of transactions per second and has an adaptable “tick-tock” framework for initial stability and later optimization. The upgrade is part of a broader ecosystem enhancement, including Hydra, Mithril, and Starstream rollups. The upgrade is expected to be completed by late 2025 and fully deployed in 2026, aiming to create a globally scalable, secure, and decentralized blockchain. Initial performance indicators suggest that Leios could handle tens of thousands of transactions per second, making it a serious competitor to high-throughput networks like Solana. The Leios upgrade is part of a larger Cardano ecosystem enhancement, incorporating technologies like…[Read More]
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