The post Will Cardano Price Surge to $1.5 Amid Whale Accumulation of 140M ADA? appeared on BitcoinEthereumNews.com.

Cardano (ADA) has recently captured attention in the cryptocurrency market as Whales accumulated 140 million tokens, fueling speculation about its price potential. The current trends, combined with increasing network activity and technical indicators, suggest the possibility of a breakout. Could this be the turning point for ADA to reach $1.5? Whales Accumulate ADA in Bulk Between December 15, 2024, and January 22, 2025, large investors added 140 million ADA to their portfolios. Such significant accumulation is often seen as a bullish signal, reflecting confidence in the asset’s long-term potential. Whale movements have historically influenced market trends, and this instance is no exception. With major holders bolstering their positions, the possibility of upward Cardano price movement gains traction. Cardano (ADA) price could potentially hit $1.5 following the current momentum. Source: Ali Martinex via X Ali Martinez, a prominent cryptocurrency analyst, remarked, “Cardano will reach $1.50 once the $1.10 resistance breaks,” reinforcing optimism among investors. This sentiment aligns with broader market developments, including increased network activity. Network Activity Surges Cardano’s blockchain activity has risen significantly, with daily active addresses surpassing 50,000. This surge highlights growing investor engagement at current price levels. On-chain data reveals heightened interest, suggesting that market participants are positioning themselves for potential gains. The recent Plomin hard fork further strengthens Cardano’s ecosystem by enabling enhanced governance features and technical improvements. This includes new Plutus primitives for better smart contract functionality, making the platform more appealing to developers and users alike. Such advancements contribute to the network’s robust activity and long-term appeal. Price Consolidation Below $1 ADA has faced volatility, hovering just under the $1 mark. After rallying to $1.15 earlier this month, the price has retraced by approximately 4% over the past week. As of January 23, 2025, ADA is trading around $0.98, reflecting a minor 1% increase in…

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Filed under: News - @ January 25, 2025 1:19 pm