🚀 Cardano is Approaching Breaking $1 with Whale Accumulation Driving the Rally
$ADA #cardano @Cardano Foundation
Cardano $ADA is rapidly approaching the $1 mark, driven by strong whale activity and expectations surrounding a possible Grayscale ETF. After five months of consolidation, the breakout of the $0.90 resistance has reignited interest, with social volume jumping over 20,000 mentions.
The big news was Grayscale's application to launch a spot ADA ETF, signaling an increase in institutional interest. This could bring the necessary liquidity to further boost the price.
Another decisive factor is the movement of whales: transactions above $100,000 surged from 86 to over 1,000 in just one week, indicating strong accumulation. This behavior tends to generate short squeezes, which trigger rapid spikes — explaining the gains of over 30% in the week.
In the derivatives market, open interest rose 24% in the last 24 hours, reaching $1.88 billion — more than five times the growth of the largest altcoin. This reinforces institutional investors' confidence in the rise of $ADA .
The sentiment on social media is largely positive, with even founder Charles Hoskinson celebrating the moment. Analysts like Javon Marks project ambitious targets, pointing to $1.20 and even $2.91 in the medium term.
With technical indicators, institutional support, and community enthusiasm aligned, Cardano is getting closer to breaking $1 — and could go much further. 🚀