What triggered Cardano's [ADA] buying spree for short time
, one of the most trending assets witnessed immense buying activity within a relatively shorter time frame. But you ask, what was the reason behind the unprecedented spark?Well, different aspects have helped the token reach a significant mark. At the time of writing, ADA traded above the $0.54 mark on CoinMarketCap. ADA holders, indeed, have supported the token through thick and thins.
The total number of wallets created on the Cardano network reached a new milestone. Despite the further delay of the anticipated Vasil upgrade, the entire ADA wallets in existence surpassed 3.5 million .collected from Cardano Blockchain Insights on 9 August. At press time, the total number of ADA delegators on the chain was 1,174,077.
In addition to this, the number of smart contracts on the platform exceeded 3,000 for the first time this month. It currentlyNotably, ADA whales acquired >130 million worth of ADA in the last eight days according to Santiment’s graph below. Basically, ADA shark and whale addresses combined to accumulate $138 million in ADA in just over eight days.Unfortunately, Cardano, despite showcasing such bullish developments, couldn’t really aid ADA’s price or even speculations against it.
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