Cardano (ADA) experienced a significant price surge on August 22nd, breaking past the $0.8 mark and reaching an intraday high of $0.93 after a massive influx of ADA tokens from large investors (whales). According to crypto analyst Ali Martinez, whales have amassed over 180 million ADA in the past 24 hours, signaling renewed confidence despite recent market downturns. This activity has been instrumental in pushing prices up by as much as 9% within a short timeframe. While this surge was triggered by a positive shift in investor sentiment towards Cardano, the analysis reveals that these whales were active even during the downward trend. Since August 20th, they’ve purchased an astonishing $167 million worth of ADA. This demonstrates their belief in the long-term value and resilience of the asset.