The crypto market has been getting a lot of attention and overflow following the US regional bank crisis over the last few weeks, several altcoins have made progress. The price of Bitcoin reached its highest level in about nine months, as the US economy continues to struggle with the two main concerns of the banking crisis and rising inflation.
On the other hand, some Whales choose to hold Cardano because they expect the $ADA price to rise in the next few weeks. This comes after the price of Bitcoin saw a weekly surge of around 6%.
Chain data shows that Cardano Whales with holdings ranging from 1 million to 10 million $ADA have been filling their bags lately. The Whales have added around $150 million ADA throughout the month of March 2023, worth $57 million. Historically, a clear buying pattern from whales can drive price spikes.
The Cardano community is looking forward to the launch of Milkomeda's latest feature on Cardano's EVM platform. This feature will give Cardano users access to Ethereum Virtual Machine (EVM) smart contracts using the ADA wallet. Sebastien Guillemot, co-founder of Milkomeda, claims that the addition of the feature will make Cardano the top EVM network.
"Milkomeda (Cardano's EVM layer) is launching a feature that allows every Cardano user to use EVM contracts directly from the Cardano wallet. This will make Cardano one of the largest EVM networks by number of users.”
ADA price is currently trading at $0.3937 and resistance levels of $0.427 and $0.46 are the focus of investors.
