Why Is Cardano Price Rising Today?

There could be a flurry of factors in play behind the recent rally of Cardano’s price. For instance, the upward momentum in the broader crypto market has fueled the prices of the top altcoins recently, indicating the shifting market focus towards digital assets.

On the other hand, recent ADA whale activity has also sparked market optimism. According to recent data by IntoTheBlock, Cardano has noted a significant uptick in its large transaction counts, indicating a high trading activity of the coin.

In addition, the crypto has also been on the investors’ radar since early September when the Chang Hard Fork upgrade went live. It marks a major milestone for the network, making it more appealing to investors seeking complete decentralization.

On the other hand, the price surged today amid anticipation surrounding the network’s next upgrade. Founder Charles Hoskinson recently revealed plans to “massively improve” the network, following the Ouroboros Peras protocol unveiling.

Simultaneously, the Cardano Summit kicked off in Buenos Aires, Argentina, generating massive hype. The event’s keynote speaker, President Javier Milei, known for his pro-crypto stance, underscored Cardano’s importance.

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