Cardano (ADA) Trading Volume Surges Amidst ETF Speculation and Chang Hard Fork Anticipation

Cardano (ADA) is experiencing a surge in trading volume despite the recent price consolidation. CoinGlass reports a 96.99% increase in ADA trading volume over the past 24 hours, with $365.83 million traded compared to $214.14 million the previous day.

Growing Speculation on ADA ETF

The Cardano community is buzzing with speculation about the potential launch of an ADA Exchange-Traded Fund (ETF). This follows the recent approval of spot ETFs for Bitcoin and Ethereum by the United States Securities and Exchange Commission (SEC).

A social media post by TapTools sparked the speculation, and Charles Hoskinson, the founder of Cardano, responded with playful optimism.
Hoskinson’s involvement has been seen as a positive sign for potential ETF developers.
The Cardano community eagerly awaits more information on this matter.

Whales Show Increased Activity

Large holders of ADA have been very active in recent days. Data from IntoTheBlock shows a significant increase in transactions involving large amounts of ADA, with up to 17 billion tokens traded within a single day.

This indicates strong confidence in the future of ADA.
Net inflows surged by 720.62% within seven days due to increased whale activity, suggesting a robust accumulation period.
This could indicate that ADA is on its way to recovery and expansion.

Anticipation Builds for Chang Hard Fork

Another key talking point for Cardano investors and stakeholders is the Chang Hard Fork scheduled for August. This upgrade will usher in the Voltaire age, fully decentralizing the Cardano network.

Market activities have increased along with optimism among traders in anticipation of this event.
Historical data shows that major network upgrades can lead to price jumps. For example, during the Alonzo Hard Fork last August, ADA experienced a significant rise in value, raising hopes for similar growth during the Chang upgrade.
The Cardano community is closely watching the ADA market for signs of bullishness ahead of this milestone.

ADA Price Outlook

Despite the recent increase in whale activity and trading volume, the price of ADA has remained relatively stable at $0.4171, showing minor fluctuations. However, the potential introduction of an ADA ETF and the Chang Hard Fork could ignite a bull run for the coin.