- Development on Cardano has increased substantially.
- Whales are once again showing interest in Cardano.
- Cardano DeFi is growing rapidly.
Cardano has been progressing at a remarkable rate this year. The Proof-of-Stake chain is slowly gaining relevance in the industry as it deploys new solutions and expands its network to handle the rising adoption of DeFi.
While once dormant, activity on Cardano has substantially increased. The POS chain has been breaking record after record this year, leading to more excitement for what’s to come to the network during “Cardano Summer.”
Whales’ Cardano Splurge
Given the network’s performance this year, whales’ interest in Cardano has been rising. Large holders have been heavily accumulating ADA, leading to net inflows on the network spiking as high as 1500% this year.
Now, following a flurry of development updates, new solutions, and a surge in native token activities in May, whales are once again on the hunt. On June 5, IntotheBlock data reported large holders on the network moved over $2.5 billion in a day, suggesting confidence and burgeoning interest in the Cardano ecosystem.
Notably, such surges also occur…
