The recent surge in interest in Cardano (ADA) is attributed to a sharp increase in futures volume, which reached $6.96 billion. This event underscores a return to discussions about the token, as well as the potential for sustained price recovery.
Record Futures Volume for Cardano
On August 14, the futures volume for Cardano (ADA) spiked to $6.96 billion, marking a five-month record. This figure starkly contrasts with average values that fluctuated between $1 and $4 billion and indicates a substantial rise in speculative activity. Analyst Ali Martinez noted on X (formerly Twitter) this represents the highest volume over the past five months, interpreting this peak as a potential turning point for ADA.
Key Resistance Zone between $1.00 and $1.25
The renewed optimism surrounding Cardano is not coincidental. Market sentiment data clearly shows a bullish attitude among both institutional and retail investors. Analyst Dan Gambardello identified the $1.00 to $1.25 zone as a critical technical threshold necessary to confirm a sustained bullish move. Historically, this zone has capped several ADA rallies, making it an important psychological benchmark for crypto traders.
New Hopes for ETF and Institutional Recognition
Another contributing factor to this growth is the announcement of the filing of a Grayscale Cardano Trust in Delaware. Although no formal spot ETF application has been submitted yet, this initiative reignites hopes for broader institutional recognition of the ADA ecosystem. Following this speculation, Cardano jumped more than 17% in 24 hours, outperforming Bitcoin (+3.19%) and Ethereum (+2.07%).
In summary, the current positive dynamic for Cardano comes after a long period of underperformance against other major altcoins. The recent breakout from a triangular pattern sends a promising signal, but the real test lies ahead: consolidation above the $1.00 to $1.25 range will be decisive for ADA’s future.
