- Cardano hard fork activates on July 18 following successful governance ratification.
- Whales accumulated 320 million ADA, reaching a 3.5-year holding high.
- Analyst projects Cardano price could reach $5 if bullish momentum strengthens.
Cardano price is drawing renewed attention after the network confirmed the ratification of its upcoming hard fork. Protocol Version 11 is scheduled to go live on July 18, while analysts also point to improving technical signals and rising whale accumulation. ADA traded around $0.164, up 4.33% over the past 24 hours, although it remains well below recent highs.
Cardano Price Strengthens as Hard Fork Activation Approaches
The Intersect governance body confirmed that the hard fork initiation action was ratified on July 13. Voting comfortably exceeded required thresholds across DReps, stake pool operators, and the Constitutional Committee. The protocol upgrade will activate on July 18 at 21:45 UTC, with node operators urged to update their infrastructure beforehand.
For the Cardano price, the scheduled activation removes uncertainty surrounding the upgrade timeline. Protocol Version 11 introduces new on-chain capabilities through an executed protocol change rather than a future proposal. While the upgrade represents meaningful network progress, adoption by wallets and decentralized applications will determine its longer-term impact.
Cardano Price Supported by Whale Buying and Bullish Signals
Celal Kucuker believes the Cardano price has entered a long-term bottom zone. He highlighted a bullish divergence on the weekly Relative Strength Index and projected a possible move toward $5, representing a new all-time high if market conditions improve.
On-chain data also supports growing institutional confidence. Wallets holding between 100,000 and 100 million ADA accumulated roughly 320 million ADA since early July, lifting combined balances to a 3.5-year high. This accumulation occurred while many retail investors reduced exposure, potentially tightening available supply.
The Cardano price remains dependent on broader cryptocurrency sentiment, but the combination of scheduled protocol improvements, sustained whale accumulation, and improving technical indicators has strengthened market attention.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
