ADA Surges 3.18% as DeFi Growth, USDM Adoption, and Major Outflows Drive Cardano Momentum

Cardano (ADAUSDT) has experienced a 3.18% price increase over the past 24 hours, currently trading at $0.7374 on Binance. This upward movement is primarily attributed to increased accumulation by traders following recent volatility, as well as positive sentiment from Cardano’s ongoing DeFi ecosystem growth and the adoption of the USDM stablecoin. On-chain data also indicates significant ADA outflows from top addresses and staking pools, suggesting a shift in token distribution and potential repositioning by large holders. Additionally, Cardano’s strong performance in July, including a notable rise in futures open interest and support from the Cardano Foundation’s asset disclosures, has contributed to renewed market interest. The current 24-hour trading volume is approximately $1.44 billion, with ADA posting a weekly gain of over 25% and maintaining a market capitalization near $26.1 billion.