Cardano Price Witnesses Significant Surge Post Brief Correction

• At the time of writing, ADA is trading at $0.3741, up 4.51% in the last 24 hours.
•  If the price goes below $0.35 level, then it will likely test $0.34 support level.

The rate at which Cardano releases new features and upgrades has always been called into question. In an interview at the recent Cardano Summit in Dubai, Frederik Gregaard, CEO of the Cardano Foundation, addressed these worries head-on, casting the network’s methodical development as a virtue.

Gregaard is quoted as saying that Cardano’s reliance on academic peer-reviewed research is a key factor in the platform’s sturdiness and dependability. 

Whale Alert

Recently, the number of transactions from ADA whales of $1 million and more increased by 32%, contributing to Cardano’s current upswing. According to statistics from Santiment, big volume transactions (whales) increased in November, with 3,213 recorded in the first four days of the month. 

Cardano’s (ADA) amazing accomplishment is highlighted by new statistics from Santiment, which shows that there have been 502.47 Github commits in the last 30 days. With such a remarkable result, Cardano has jumped ahead of its rivals and is now in first place.

Compared to other major competitors in the cryptocurrency sector, Cardano’s success stands out as particularly striking. Ethereum has seen far less development activity than Cardano over the previous month, with just 287.67 Github commits.

At the time of writing, ADA is trading at $0.3741, up 4.51% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down 0.28%. The price recently found support at $0.34 on November 7, before starting a fresh rally.

If the price manages to go past $0.37 then it will likely test the $0.40 resistance area. On the other hand, if the price goes below $0.35 level, then it will likely test $0.34 support level.