The Cardano system is witnessing a strong push as the trading volume of its futures reaches approximately $7 billion, amid increasing expectations that the probability of approval for a dedicated Cardano ETF is at 75%.
Market Indicators
ADA is currently trading at $0.9177, down 4.53% in the last 24 hours, with a market cap of $32.76 billion and a daily trading volume exceeding $2.27 billion.
Over the past year, the value of ADA has increased by 172.15%, and by about 8.82% since the beginning of the year, but it remains 44.55% lower than its all-time high of $3.09.
Technically, the coin has managed to turn the $0.90 level into new support, with potential targets between $1.05 and $1.15 if the current momentum continues.
On-chain Activity
Data indicates a clear increase in the movements of large investors ('whales'), including a purchase exceeding 200 million ADA, reflecting growing confidence.
Additionally, the distribution of a billion Midnight tokens has led to significant activity on the network.
The staking participation rate remains stable at around 70%, reflecting user commitment and ongoing trust in the network's long-term security model.
Developments in the Ecosystem
Cardano continues its Voltaire phase of governance, with the launch of a treasury and on-chain voting system allowing ADA holders to participate in directing network decisions.
Liqwid Finance and Midnight Network protocols are gaining increasing momentum, alongside rising activity in smart contracts and decentralized applications.
The network infrastructure, including the multi-asset ledger and the Plutus smart contracts layer, has helped revitalize DeFi activity on Cardano, enhancing its position against competitors like Ethereum.
External Factors
Major cryptocurrency markets are moving in a supportive direction, with Bitcoin stabilizing above $116,000, while Ethereum approaches $4,350, providing positive winds for the altcoin sector.
The increasing activity in futures contracts, whale accumulation, and the growth of DeFi projects are all factors enhancing Cardano's presence as one of the prominent assets among mid-market cap smart contract networks.
