Cardano Experiences Renewed Demand from Whale Investors: Can ADA Price Regain Bullish Momentum?

• On-chain data shows Cardano whales accumulated more than 120 million coins in the past two weeks.
• The Cardano network has inked several strategic partnerships globally to enhance its regulatory compliance.
• ADA price has been following a similar fractal pattern to the 2021 crypto bull market.

Cardano (ADA) has attracted the attention of more institutional investors seeking to diversify their crypto portfolios in the recent past. According to on-chain data analysis provided by Santiment, Cardano whale accounts with a balance of between 1 million and 10 million ADA coins added over 120 million ADA in the past two weeks, thus currently holding around 5.57 billion coins. 

The Cardano ecosystem has grown in the past year bolstered by the initiative of the core developers led by founder Charles Hoskinson. For instance, Cardano’s treasury has exponentially increased in the recent past to more than 1.8 billion ADA coins, thus becoming one of the largest self-governed token treasury globally.

Cardano Network and Mainstream Adoption

The Cardano network has been morphing in the past years to compete with other smart contract chains, such as Ethereum (ETH) and Sol…

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