ADA, a native asset of the Cardano Blockchain, has emerged as one of the hottest cryptocurrencies of the year, recording an impressive 62% increase in the last 30 days as it rapidly approaches a critical psychological dollar level.
Cardano’s trading volume has increased 20% over the past 24 hours. This is because there has been a significant increase in participation from both retail and institutional investors. Currently, the current volume of the ninth largest cryptocurrency accounts for 8% of its total market capitalization, at $30.56 billion.
ADA market sentiment flips positively as OI hits record $1.7 billion
Market sentiment in the ADA suggests that the fear and greedy indicators of token climbing have shifted dramatically to 67, and climbing to 67, now in the realm of “greed” and reflect an increase in optimism between traders and investors. The current rally has brought Cardano prices to a level of $1 strike distance that has not been coincident since February 2025.
Open profit (OI) on ADA futures contracts surged to a record high of $1.7 billion, surpassing its previous peak of $1.5 billion, according to Coinglass data. Cardano has new investors’ interest, but it’s 72% below its peak rating from four years ago.
The surge in trading activity could be attributed to recent US regulatory developments in which President Donald Trump signed the law on genius and clarity, improving the long-term outlook for key crypto assets such as Cardano, potentially attracting more institutional capital to the niche market.
Tokeo Wallet releases crypto-driven debit cards that allow ADA payments via Apple Pay
There are also widespread reports that Cardano-based distributed applications are gaining support for Apple Pay through the newly launched Cardano Kit SDK. There are no confirmations from official channels, but the news is viral within the crypto community.
Tokeo Wallet co-founder “Shaz” quickly dismissed these claims, saying social media is making things unbalanced. However, while cross-chain smart wallets are working on features that enable Cardano functionality on Apple devices, open source development projects are still in their early stages.
Shaz has confirmed that Tokeo is “a few weeks away” from launching the new Crypto-enabled MasterCard Payments card, developed in collaboration with the Crypto Payments Gateway Provider Mercuryo.
The rumored story surrounding Cardanokit shows the growing appetite for seamless crypto payments across leading mobile platforms, iOS and Android. Cryptocurrency is not directly supported by Apple Pay, but infrastructure developed by companies like Tokeo can bridge the gap between traditional finances and cryptocurrency funds through indirect routes such as card-related payments.
The technical indicator alignment suggests that Cardano prices could be targeted at $2.60
Cardano’s prices have been successful in exceeding the main resistance level by $0.85, previously serving as a price action cap. Its exponential moving average (EMA) is bullishly consistent with both the 9-day and 21-day EMA, with both the 200-day EMA. This is considered a classic bullish crossover pattern that often precedes the movement of asset rising prices.
The latest price breakout formed a golden cross between the ADA’s short-term nine-day and 21-day EMA. This is a clear reversal of trends from previous bearish conditions. This momentum indicator suggests that Cardano’s rising price momentum could last in the short term.
A weekly chart analysis revealed that the ADA has been trading within the downward parallel channel since November 2024 and appears to be ready for a big breakout. The code has formed bullish weekly candles for six consecutive weeks, indicating persistent buying pressure in the market.
The current rally was triggered earlier this year after a triple bottom pattern was formed on a price chart over Cardano’s $0.60 support level. Other technical indicators, including the relative strength index (RSI) of ADA and moving average convergence divergence (MACD), continue to generate bullish signals previously observed at previous major gatherings.
According to historical data, if these metrics match, if Cardano prices experience profits ranging from 176% to 316%, and if these patterns are repeated, cryptocurrencies can target valuations of at least $2.60. ADA’s more realistic short-term goal represents a 34% increase from current levels at $1.18 for the next major liquidity area:
Will Cardano surpass Solana in defi control and hit $10 per ADA?
Traders are aiming for a $10 ADA, but to win the mark, Cardano’s market capitalization will need to exceed $300 billion and in the process become Solana (SOL) – the third largest cryptocurrency by overtaking its main rival.
Solana’s Flipping Solana is a difficult task as Cardano has a relatively small Defi footprint and only $300 million in total locked (TVL) (TVL) in native applications compared to Solana-based Dapps’ $9 billion TVL. However, bullish market conditions and increased institutional demand could help Ada fill that gap in SOL in the long run.
At the time of writing, Cardano (ADA) has dropped by 1.84% over the past 24 hours.
