The Cardano (ADA) blockchain has witnessed a remarkable increase in large transactions, with over 17 billion units exchanged within a 24-hour period. This significant surge is attributed to large holders, often referred to as 'whales,' conducting transactions exceeding $100,000. According to on-chain analytical platform IntoTheBlock, the volume of such large transactions reached 17.78 billion within a day.

This rise in large transactions indicates growing interest from institutional players and whales in the ADA token. Typically, increased interest from institutional holders suggests confidence in the token's future. For ADA, the 17.9 billion 24-hour volume could signal a potential rise in its price. Recent updates, such as the Cardano Chang Upgrade, may have heightened expectations for ADA, prompting these large investors to increase their investments in anticipation of higher prices.

Additionally, speculation surrounding Cardano's potential approval for a spot Exchange-Traded Fund (ETF) may be driving interest from institutional investors. These investment vehicles are considered safer options for traditional finance sector participants. Rising interest from these investors could lead to increased adoption and potentially impact the price of ADA.

Current trends show that a smaller number of ADA investors are currently making profits compared to those who are not. Data from IntoTheBlock reveals that 32.77% of addresses holding ADA are profitable at the current price, while 65.83% of holders are out of profit. As of this writing, the price of ADA has increased by 5.9% in the past day, with the next critical support level in the $0.42 territory.

If ADA surpasses this threshold, it could lead to further price increases. Conversely, a drop below this level may result in significant losses for the token. The surge in large transactions and growing institutional interest may be indicative of a potential price rise for ADA, making it a token to watch in the coming days.