Cryptocurrency markets are experiencing volatility due to global economic uncertainties. Cardano (ADA) is showing notable price fluctuations amidst shifting investor sentiment. Despite short-term corrections, institutional investors are showing increased interest in ADA.
After a 22% weekly rally, ADA has established a trading range between $0.795 and $0.841. This range reflects both profit-taking and strategic accumulation by larger investors. Cardano's market position has been strengthened by its addition to Grayscale's Digital Large Cap Fund.
Integration with Brave browser's wallet system has also boosted Cardano's position. This Brave integration connects Cardano to over 86 million users worldwide. On-chain analytics reveal that holders controlling between 100 million and 1 billion ADA accumulated over 40 million tokens in just two days.
This whale activity coincides with ADA's breakout from a descending channel pattern. This suggests potential for further upward movement despite short-term volatility.
This article is based on our author's analysis of materials taken from the following resources: CoinDesk's AI Policy.