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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#Cardano rose 10% in strong higher trading.

_Cardano was trading at $0.5916 at 17:23 (14:23 GMT) on the #Investing.com.Index on Tuesday, rising 10.06% on the day. To record the highest daily increase since. This upward move pushed Cardano to record a market cap higher than $20.8190B, or 1.32% of the total cryptocurrency market cap, and at the record level, where Cardano's market cap was $94.8001B.
_#Cardano.has.traded in a range between $0.5505 and $0.6059 in the last 24 hours. Over the last seven days, Cardano has been seen rising in value, and its percentage change has increased. As for the volume of Cardano within the trading of the $ pair during the last twenty-four hours until the writing of the article, it was 1.3099B, or 1.66% of the total volume of digital currencies. Trading was also in a range between $0.4168 and $0.6459 during the last seven days. On the other side of digital currency trading, #Bitcoin was moving at $41,717.2 within the Investing.com Index pair, down by a change of 0.45% on a daily basis.

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