Cardano (ADA) has seen a massive upsurge in its trading volume within the last 24 hours CoinMarketCap data shows that Cardano’s volume spiked by 72.89% to $953.21 million within this time frame as the asset showed signs of regaining bullish momentum.
DZ Bank listing fuels Cardano demand
Notably, Cardano has been having challenges as the coin traded at a low level of $0.3323, sparking concerns of its future outlook. In the last seven days, however, ADA has traded above $0.42, with the price steadily inching higher daily.
The current massive spike in volume is likely supported by the addition of Cardano to a traditional banking trading platform. German banking giant DZ Bank recently added ADA to its regulated platform, “meinKrypto,” offering the product to its user base.
The addition of Cardano by a mainstream bank signals regulatory validation and could boost retail demand for ADA
Additionally, this might reduce the volatility that has characterized the performance of Cardano in the last couple of weeks. If DZ Bank records a high adoption rate, Cardano could begin to enjoy a level of stability.
Institutional interest in Cardano also caused a spike in its open interest — exactly seven days ago. The uptick came as speculation of possible approval for a Grayscale spot Cardano exchange-traded fund (ETF) hit the community.
With Cardano’s volume up, the price has gained by 6.74% to $0.4185 within this time frame. Cardano had, in earlier market trading, soared to a daily peak of $0.4267 before posing a slight correction.
Price climbs as Bitcoin boosts altcoin sentiment
It is worth pointing out that Bitcoin has also contributed to the bullish outlook that Cardano currently enjoys. In the broader crypto space, Bitcoin surged by over 4.5% to hit above $95,000.
This uptick in the price of the leading crypto asset had a positive impact on altcoins, including ADA.
Cardano might continue on this bullish trajectory if investors hold and do not embark on profit-taking moves. Already, the Relative Strength Index (RSI) of ADA is close to 70, signaling potential short-term pullback risk.
As U.Today reported, Cardano has been recording a steady increase in open interest
This open interest breakout came after the coin experienced a volume drop but no liquidations. Now, momentum has shifted in the ecosystem. Whether this can hold off short-term traders remains something to watch out for in the coming days.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Analyst Says Bitcoin Indicators Show Early Signs of Market Recovery
Stablecoin liquidity rose by ~$8B since February, signaling potential improved market trading conditions.
Inter-exchange Flow Pulse turned positive, indicating more Bitcoin moving to derivatives platforms.
Long-term holders retain ~79% of supply, showing gradual supply transfers rather
CryptoFrontNews1h ago
Dogecoin at a Turning Point — Will $0.094 Resistance Finally Break?
Dogecoin was trading between $0.0925 and $0.09173 with the price stabilizing around $0.0925.
The immediate $0.09443 resistance caps the current range. A move above this level could expand today’s trading activity.
Past historical price movements coincide with a number of trend support res
CryptoNewsLand2h ago
XRP Breaks $1.40 Resistance as Volume Surge Lifts Momentum
Key Insights
XRP surged past the $1.40 resistance after trading volume climbed nearly 13%, signaling renewed trader interest and stronger short-term momentum.
Ripple’s collaboration with Mastercard through the Crypto Partner program increased market attention as investors anticipate
CryptoNewsLand2h ago
XRP Price Structure Tightens While Heatmap Highlights $1.30 Liquidity Zone
XRP trades near $1.37 support after a 0.9% daily decline, while the $1.44 level remains the immediate resistance in the current range.
A three-week liquidity heatmap highlights a large order cluster around $1.30, indicating a strong liquidity zone below price.
A three-month Gaussian
CryptoNewsLand3h ago
Internet Computer Price Nears Wedge Breakout — Will Momentum Hold Above $2.54?
Internet Computers continues trading within a falling wedge that has developed since November. Price now approaches the pattern’s upper boundary as volatility tightens.
ICP is trading around the $2.57 mark which is a bit higher than the $2.54 support. In the meantime, the immediate
CryptoNewsLand3h ago
Billionaire Investor Stanley Druckenmiller Bullish on Stablecoin Growth
Billionaire investor Stanley Druckenmiller believes stablecoins will become the backbone of the financial system in 10-15 years, citing their efficiency. However, he views much of the wider crypto market as unnecessary, describing it as “a solution looking for a problem.”
Decrypt3h ago
