The cryptocurrency Cardano is experiencing an increase in network activity, which is believed to be due to institutional players making large transactions. Data from analytics firm IntoTheBlock shows that the number of large transactions in the past 24 hours spiked to a seven-day high of 4.73k, with Cardano whales having purchased over 560 million ADA tokens in the past two weeks. The rise in buying activity is seen as an indication of long-term confidence in the potential of the Cardano network. Meanwhile, it was announced that Cardano developer IOG has released Lace, its first native wallet for the network, which allows users to transact Cardano digital assets and stake ADA tokens directly from Lace to receive rewards. At press time, ADA was trading at $0.45, up 16% in the past seven days.
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