ADA Token Sees $10.3B Weekly Volume Surge Amid Volatility, Regulatory Buzz, and Major Cardano Updates
Cardano (ADA) experienced notable volatility in the past 24 hours, with the ADAUSDT pair on Binance currently trading at 0.8838, reflecting a 3.63% decline from the 24-hour open of 0.9171. The recent price movement is attributed to a combination of factors, including heightened market optimism following Cardano founder Charles Hoskinson's announcement of an upcoming audit and anticipation surrounding regulatory developments such as the "GENIUS Act." Increased trading activity is evident, with open interest in ADA derivatives rising to $1.66 billion in July and weekly token trading volume reaching $10.3 billion, the highest since March. Additionally, upcoming events like the Cardano Foundation's AMA and the launch of new platforms are contributing to elevated investor interest and market activity.
Currently, Cardano maintains a robust market capitalization of approximately $30.34–$31.67 billion, with a circulating supply of about 35–36 billion ADA and a 24-hour trading volume exceeding $2.2 billion, indicating sustained high liquidity and active trading despite recent price fluctuations.