Recent whale movements are notable as an indication of increasing interest in Cardano (ADA). Significant purchases have been observed, especially in the last 48 hours.
Investor sentiment is buoyed by Cardano’s governance advances, with the upcoming Plomin hard fork in particular playing a key role in this process.
“The implementation of the Plomin update represents a significant step towards full on-chain governance,” an Intersect official said, emphasizing the project’s commitment to transparency and decentralization.
Cardano is seeing increasing whale activity amid expectations of the Plomin update, which could shape governance and price movements in 2025.
The investment movement around Cardano (ADA) is not random. Updates regarding the Plomin hard fork seem to have increased whale investors’ confidence in the asset. As Cardano continues to strengthen its governance structure with CIP-1694, clearer results are emerging regarding long-term project sustainability, attracting the attention of large-scale investors.
The hard fork proposed by Intersect aims to implement Plomin on the Cardano mainnet, and this update is expected to create a solid foundation for on-chain governance. ADA holders will have more influence over protocol changes and improvements. “We believe that the adoption of these governance features will strengthen the community and bring more confidence to the Cardano ecosystem,” the Intersect official said, sharing a hopeful outlook on the future of the project.
As we approach the end of 2024, many altcoins in the cryptocurrency market continue to gain value, and Cardano (ADA) is following this general trend. Currently trading at around $0.887, ADA has recovered from previous lows and is approaching resistance levels.
ADA’s trading action is currently at a critical point. Facing resistance at $0.91, ADA is trading at a point where the daily SMA 50 is at $0.949. If ADA breaks these levels, it could start a rally towards the psychologically important $1 barrier and perhaps a move to $1.20. However, a drop below $0.76 could signal a downward reversal.
Recent whale investments and rising price potential suggest a positive shift in investor sentiment. Many investors are predicting a strengthening of fundamentals coupled with improvements in governance, which could lead to a strong performance by ADA. This could position Cardano for 2025 and create an environment where further capital inflows could lead to significant price appreciation.
