Cardano's $ADA Sees Growing Institutional Investor and Whale Interest, on-Chain Data Shows

The Cardano ($ADA) network has been seeing increased interest from institutional investors and whales on its network, with the volume of large transactions exceeding $100,000 recently rising significantly.

Timeline of Cardano

Cardano and Solana are competitors in the decentralized finance (DeFi) and non-fungible token (NFT) space as both blockchains offer smart contract capability that makes the creation of these assets possible. Both of their native cryptocurrencies namely ADA and SOL have also taken a significant beating in the market as the bear market raged on.

Charles Hoskinson, the founder of Cardano, has addressed recent concerns about the network's governance structure, reassuring ADA enthusiasts and users that development processes will be robust and transparent.

Cardano (ADA) had been recently struggling to find solid support until it did so at $0.30, whereafter, bulls were able to successfully regain momentum. The price this week increased rapidly, eventually reaching the point of resistance at $0.35.

Crypto Prices Today: The market is trading in red today as Bitcoin, and Altcoins including Ethereum see a decline. As of writing, Bitcoin price has decreased by 0.96% in the last 24 hours.

Cardano [ADA], the decentralized Proof-of-Stake (PoS) blockchain, has put up with consistent neglect by folks in the crypto-channel. The lack of attention given to the network might be surprising though, especially as the ecosystem reacted positively to recent crises in the industry.

Cardano had attempted to recover on its chart in the past week, but the bulls could not sustain the attempted upward movement. Over the last 24 hours, ADA dipped close to 9%, and in the previous week, it registered a loss of 1%.

Cardano [ADA] rebounded strongly after hitting its recent low of $0.3020 on 12 March. It saw aggressive buying at the above lows pushing its price break key resistances as Bitcoin [BTC] surged to the $26k area.

Cardano price analysis shows an uptrend today as the digital asset has seen a series of higher highs and higher lows. The current price stands at $0.3614, up from yesterday's low of just over $0.35.

Ripple CEO Brad Garlinghouse took to Twitter yesterday to set the record straight regarding his blockchain company's exposure to the now-defunct Silicon Valley Bank. At the time, Garlinghouse revealed that there was “some exposure to SVB,” especially since it served as the banking partner for Ripple and held some of the firm's cash balances.

Investors in the crypto market are once again aggressively bullish following the collapse of key banks in the United States. ADA, the token powering Cardano, a decentralized ecosystem is up 3.6% in 24 hours and trading at $0.3435 at the time of writing.