In today's market, Cardano is experiencing a significant downturn, surprising many who anticipated a price rally before its halving. Despite the crypto market's overall decline, Cardano has seen a drastic increase in large holder inflows, jumping an astonishing 28,372% within 24 hours, indicating heightened whale activity and increased buying during market corrections.

This surge in inflows has propelled Cardano's market cap by $1.7 billion, elevating it to the 10th position on CoinmarketCap. As whales accumulate tokens, there's typically a rise in outflow from centralized exchanges. Additionally, Cardano's smart contracts, particularly Plutus V2, have seen a notable increase, with a total of 41,743 smart contracts recorded, suggesting growing adoption and activity within the Cardano ecosystem.

Despite these developments, Cardano's price has suffered, dropping by 25% in a week and 36% in a month, currently trading around $0.4588. This decline is reflected in its market capitalization, which stands at $16.32 billion, and its trading volume, which has decreased by 15%. Although Cardano had reached a two-year high of $0.78, it remains far from its all-time high and has struggled to surpass the $0.6 mark for some time.

Analysts remain optimistic about Cardano's future, noting potential signs of a bullish push on the weekly chart. While it may be lagging behind other cryptocurrencies in recovery, Cardano continues to attract investor attention and remains a popular choice in the market.