Cardano, spearheaded by founder Charles Hoskinson, is witnessing a notable market surge, with its native token ADA pushing towards the $1.20 mark. This momentum comes fueled by an open interest increase of nearly $1 billion, reflecting growing investor confidence and activity among institutional traders. 📈 Analysts attribute this rise to expanding DeFi applications and increasing institutional involvement. 🏛️ The community’s participation in Cardano is also on the rise, with staking activities and on-chain actions escalating alongside the price increase. 🚀 ADA’s recent surge follows a period of consolidation over the past 60 days. While Charles Hoskinson hasn’t issued statements about this rally, the significant open interest figure suggests substantial market support for ADA.