1 August 2026
Cardano (ADA) Whales Can Initiate Bullish Rally To $1
The activities of Cardano (ADA) whales increased substantially this week for a bullish run to $1. Nearly $138 million ADA has been accumulated by whales ahead of the upcoming Vasil hard fork, and the total number of wallets rose above 3.5 million.
Although there has been a delay in the release of the Vasil hard fork which was scheduled for July end, the price of ADA has continued to gain momentum.
The founder of Cardano promised that there will not be any more delays in the Vasil hard fork. In the previous week, Kevin Hammond, IOG’s technical manager, also explained the importance of further testing to guarantee a smooth rollout process. Currently, Cardano is trading above the $0.50 level.
As per the Santiment, the Cardano Supply Distribution metric shows the s rising whale and shark activity in the last week. Since July 27, whales and sharks have added 0.46% of Cardano’s existing supply.
Though it sees small accumulations if it continues in August, a massive rally may push the price to hit $1.
The update of Cardano promises a focus on security, rigor, stability, and scalability with increased throughput on the Cardano blockchain and the development of smart contracts and decentralized apps.
More than 1 million wallets have been added this year, despite the crypto market crash. Also, the number of smart contracts deployed on the Cardano network has now surpassed 3000 for the first time.
With the increased optimism regarding the Vasil hard fork, the total number of wallets holding ADA now crossed over 3.5 million.
Additionally, Cardano’s on-chain transactions are higher than Bitcoin, Ethereum, Dogecoin, and Algorand. A move above the $0.550 resistance level can drive a massive rally in the Cardano (ADA) price to $1.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice
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