- Whale investors acquired over 40 million ADA in 48 hours, showing renewed confidence in the token’s future price direction.
- ADA jumped 16% within a week, breaching major resistance levels and signaling strong technical momentum.
- Cardano’s ecosystem is opening up to agile teams, with Hoskinson confirming a strategic pivot toward faster and inclusive development.
Large Cardano holders have recently accumulated more than 40 million ADA tokens, signaling renewed interest in the blockchain project. This surge in whale activity took place over the past 48 hours, indicating potential upward pressure on ADA’s price. The increased accumulation follows a notable shift in Cardano’s price and ongoing developments within the network.
Cardano’s price trend turned up effective May 8 after a recovery from the support level of $0.67, 50-days simple moving average. This increase led to the completion of an inverse head-and-shoulders thus a common sign of positive momentum.
Since the rally intensified, ADA broke above the 200-day moving average, which previously only contained it from advancing further. The coin reached its highest value since May 11 at $0.846, but it later fell to $0.801.
Positive Momentum Supported by RSI and Network Expansion
The Relative Strength Index (RSI) remains in favorable territory, reflecting sustained buying interest. Analysts note that if ADA stays above key moving averages, the next potential target lies near the $1 mark. If selling pressure returns, a drop below the 50-day SMA at $0.676 could see prices revisit the $0.60 and $0.50 support levels.
Cardano founder Charles Hoskinson addressed the ADA community in a recent post, acknowledging the platform’s slow early growth due to its rigid development approach. He emphasized that the project is now entering a more dynamic phase, welcoming diverse teams like Aiken and Midgard. Hoskinson stressed that while innovation is being prioritized, Cardano will retain its core focus on research and formal verification through Input-Output Research and its Agda-based team.
From the perspective of Hoskinson, the fact is that the current stage is a turning point in the development of Cardano. While the network becomes agile and attracts more users, it works to increase scalability and usability while maintaining compliance and high standards of security.
