ADA Surges 9.26% as Cardano Breaks Key Technical Levels, DeFi TVL Hits $333 Million

Cardano (ADA) has experienced a notable price increase of 9.26% over the past 24 hours, with the ADAUSDT pair on Binance currently trading at 0.8342, up from a 24-hour open of 0.7635. This upward movement is primarily attributed to a combination of factors: a broader altcoin rally, increased bullish sentiment, and significant technical breakouts above the 50-day and 200-day simple moving averages. Additional drivers include a surge in derivatives open interest exceeding $1.2 billion, substantial liquidity inflows of approximately $48 million, and a rise in total value locked in Cardano DeFi protocols to $333 million, all indicating heightened network activity and investor engagement. Despite some large holders selling over 170 million ADA tokens, the market has absorbed this selling pressure, supporting the ongoing rally.

Currently, ADA maintains strong trading activity with a 24-hour volume reaching up to $2.40 billion and a price range between $0.6883 and $0.8237, reflecting robust market participation and positive momentum as the asset approaches the $1 mark.