Cardano Soars 36% In 2 Weeks Amid Big Announcement | The Crypto Times

An analytics platform, Santiment, recently reported that Cardano has experienced remarkable growth over the past few days.

According to the report, the cryptocurrency’s value surged by 9% on November 2nd, followed by a 4.24% gain on November 3rd, resulting in an astonishing 36% increase in just two weeks.

Notably, Cardano’s address activity has also seen a significant uptick, with a 23% growth in the past three weeks, highlighting the adoption and usage of the Cardona platform.

Furthermore, Whale activities have also shown a 32% increase over the same time period. On November 2nd, 2023, three dormant Bitcoin Whales that had been inactive since November 2017 collectively moved 6500 BTC, equivalent to approximately $230 million. 

The first address transferred a total of 2550 BTC (approximately $90 million), the second address sent around 2000 BTC(71 million), and the third moved roughly 1950 BTC (69 million).

The recent price surge coincides with an announcement made at the Cardano Summit 2023 by the project’s founder and CEO, Charles Hoskinson. During the summit, the CEO introduced a new framework that will enable developers to create their partner chains on the Cardano network.

This announcement has sparked excitement within the Cardona community and is likely a contributing factor to the increased activity and price growth.

According to Coinmarketcap, Cardano is currently trading at $0.3208

Also Read: Cardano’s $SNEK Memecoin Surges with +56% in a Week

Iyiola is an experienced crypto writer specializing in simplifying complex blockchain and cryptocurrency topics for a broad audience. With expertise in ICOs, DeFi, NFTs, and regulatory updates, he offers valuable insights to help readers make informed decisions. He is proficient in SEO optimization.