Cardano’s price has surged to a five-month high, reaching nearly $1.10. This rally is driven by bullish market sentiment and increasing on-chain activity, fueled by speculation about an upcoming ADA ETF. The crypto community sees this as a sign of a possible altcoin season. ?
The surge in Cardano’s price has led to notable effects within the cryptocurrency market:
* Derivatives volume jumped by 103%, reflecting increased institutional interest.
* Retail sentiment is also bullish, with activity on social platforms increasing significantly.
* A 7-day price gain of approximately 32% brings ADA’s market cap to $35 billion. The price surge has been attributed to speculation about a potential ADA ETF, although there are no official regulatory filings yet.
Analysts predict continued market momentum for Cardano as they watch for sustained whale participation and derivatives activity.