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**Cardano (ADA) Price: Breakout Rally Gains Steam with $1.43 Billion Open Interest Surge**
The market has witnessed a stunning surge in the price of Cardano (ADA), as it continues to defy expectations and make its way towards new heights. This remarkable upswing is attributed to an unprecedented increase in open interest, which now stands at a staggering $1.43 billion.
As traders and investors alike flocked to the market, the ADA token has witnessed a significant gain of 6.22% on a daily basis, trading near $0.80 at the time of writing. This remarkable surge is fueled by an influx of new capital, which is further reinforced by the exponential growth in open interest.
One crucial factor driving this rally is undoubtedly the network’s rising activity and increasing trader interest. The Cardano blockchain has witnessed a substantial 30.9K unique active addresses within the last 24 hours, marking a significant upswing from its previous figure of 29.6K. This drastic shift indicates that market sentiment has shifted in favor of ADA.
Furthermore, we’re witnessing an astonishing spike in on-chain transaction volume with a profit-to-loss ratio now standing at 4.808. This monumental increase suggests that more transactions are occurring at prices higher than when the tokens were last moved.
Despite reaching this level, ADA is still poised to continue its upward trajectory, as we see strong indicators for continued support above $0.7854. Additionally, there’s a possibility of testing the $0.92 resistance point.
The recent Plomin Hard Fork has undoubtedly attracted institutional attention, with Grayscale allocating 20% of one diversified crypto fund to ADA. This monumental development could unlock new investment opportunities for investors and traders alike.
Moreover, EMURGO partnered with Ctrl Wallet on July 2, 2025, further solidifying the network’s interoperability with over 2,300 blockchains. This critical partnership amplifies the Cardano blockchain’s potential use cases.
In conclusion, it seems evident that this rally is fueled by a combination of these factors and institutional interest. It may be wise for investors to continue holding their ADA tokens as the cryptocurrency maintains its upward momentum while aiming at $0.86 resistance point.
Source: coincentral.com
