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ADA Gains 6%, Crypto Capital Founder Says He's More Confident in Cardano Now

Tue, 04/11/2023 - 11:34
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Tomiwabold Olajide
Cardano (ADA) up nearly 6% in last 24 hours, at $0.407
ADA Gains 6%, Crypto Capital Founder Says He's More Confident in Cardano Now
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Cardano's ADA price increased along with those of other cryptocurrencies as the market saw an upward move. At the time of writing, ADA was up nearly 6% in the last 24 hours, at $0.407. The coin is up 4% in the past week.

Given ADA's price action, Crypto Capital Venture founder Dan Gambardello says he is more confident about Cardano now than he was at $3 ADA during the bull market high.

The ADA price rallied to highs of $3.09 on Sept. 2 ahead of the Alonzo network upgrade, which ushered in smart contract functionality. It bears mentioning that ADA is currently down 86.84% from this record high, but despite this, the Cardano ecosystem has grown tremendously.

A total of 122 projects have already launched, while 1,221 projects are currently building on Cardano. On the network, 64.2 million transactions have been performed. There are now also 8.09 million Cardano native tokens, with 71,386 minting policies.

Also, there are now 7,597 Plutus scripts. Plutus refers to the smart contract platform of the Cardano blockchain that allows for the writing of applications that interact with the Cardano blockchain.

All of this appears to be boosting Dan Gamberdello's confidence in Cardano. This confidence is also seen among Cardano whales, who continue to accumulate at every given opportunity.

Cardano Whales Accumulate 560 Million ADA in Just Two Weeks: Details

As reported, Cardano whales or large holders have accumulated 560 million ADA worth $218.4 million in the past two weeks, per IntotheBlock data.

On April 3, crypto analyst Ali reported that Cardano whales holding 1 million to 10 million ADA had scooped up nearly 150 million ADA worth $57 million since February.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.