Jan 2, 2026
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Cardano Price Surges 7% on Increased Whale Activity
Cardano (ADA) price jumped 7% on January 2, surpassing $0.36, following a 20% drop in December. This increase is attributed to improved on-chain and derivative data indicating rising bullish interest and whale activity.
- CryptoQuant reports increased whale activity in both spot and futures markets, pointing to buy-side optimism.
- CoinGlass funding rates turned positive, suggesting more traders are betting on higher Cardano prices.
- Cardano is trading in a falling wedge pattern, with potential for a breakout extending the rally to its 50-DMA at $0.42.
- The RSI indicator is at 43, moving towards the neutral zone at 50.
- MACD indicator confirmed a bullish crossover, suggesting a cautiously optimistic outlook.
Charles Hoskinson, Cardano's founder, plans to focus on the Midnight network in 2026. After its launch in December 2025, he aims to develop technical specifications and privacy tooling as part of a five-year strategy for mass adoption by 2030. Hoskinson will reduce his presence on social media to concentrate on strategic planning.