Cardano 
$0.35504 Its ecosystem is currently witnessing rapid changes. ADA whales are among the ecosystem’s biggest winners. The Cardano Summit held in Buenos Aires, Argentina has officially started and many people are eagerly awaiting new developments in the ecosystem.
The Rise of the Island Whales
According to data from crypto analytics platform IntoTheBlock (ITB), the number of large transactions increased by more than 10% in 24 hours. Cardano worth approximately $6.54 billion was mobilized during this period.
Statistics reveal the level of sensitivity in the ecosystem. According to the ITB definition, ADA whales are defined as people who trade at least $100,000 worth of Coins. Around 3,670 such transactions were recorded on-chain in the last 24 hours. This number fluctuated from 2,220 to 4,150 last week.
Impact of Cardano Summit in Argentina
With the recent Peras announcement, the ongoing Summit in Argentina is attracting great interest. One of the highlights of the event was the meeting with President Javier Milei. The participation of Milei, known for his pro-Bitcoin stance before its rise in December 2023, highlights the importance of Cardano.
Thanks to the living Voltaire era and the Chang hard fork, the evolution of decentralized governance will make Cardano even more prominent. To date, many Ethereum 
$2,647 As its rival, it sees Cardano as a pioneering project in decentralization. This stands out as a factor supporting the positive sensitivity of ADA whales. One top market analyst stated that “Cardano price has bottomed.”
According to CoinMarketCap data, the market value of ADA is at $ 0.3501 and increased by 1.98% in 24 hours. However, overall transaction volume decreased by 29% to $211 million. Despite this divergence between whale and overall market sentiment, some analysts predict that Cardano could reach new highs in the future.
The information provided during the event clearly reveals the dynamic structure of the Cardano ecosystem and the role of ADA whales in the ecosystem. While these developments provide important indicators for investors, they also reveal Cardano’s progress in achieving its decentralization goals.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
