Cardano Hits Fresh Monthly High as ADA Market Cap Surges 24%

Cardano has pushed up to $0.195, marking its highest price level since July 4. Over the past week alone, the network market valuation jumped by 24%, making ADA one of the stronger performers right now.

Interestingly, this price jump comes alongside an unusual trend on the blockchain. Data shows that the number of non empty Cardano wallets dropped by 7,070 over the last two months. Typically, a falling wallet count means smaller retail traders are stepping away from the token.

Analysts believe larger investors are taking advantage of this quiet period to accumulate ADA. As smaller holders sell off their coins, bigger players are absorbing the available supply and helping push prices higher.