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Cardano's Daily Trading Volume Surges 25.75%
Generated by AI AgentCoin World
Friday, Apr 25, 2025 5:55 am ET1min read
Cardano (ADA) has been experiencing a significant surge in market activity, with a 25.75% increase in daily trading volume. This bullish trend has led market analyst Javon Marks to predict a parabolic rally for the ninth-largest cryptocurrency. Marks believes that ADA is poised for a breakout target between $2.70 and $2.91, which could result in a more than 354% climb for the cryptocurrency. This price increase would bring Cardano closer to its all-time high of $3.09, set in September 2021.
Cardano's recent breakout from a prolonged consolidation inside a triangle pattern has further fueled this bullish sentiment. The cryptocurrency has seen a weekly increase of 17.2%, with its price currently at $0.72. This puts ADA on track to reach the psychological price of $1, with its open interest in the green after hitting $873.4 million. This indicates heightened market activity and liquidity for Cardano.
In addition to retail interest, Cardano is also attracting record institutional inflows. According to data from CoinShares, ADA saw month-to-date inflows of $63.3 million, surpassing major cryptocurrencies like Solana (SOL), Ethereum (ETH), and Bitcoin (BTC). This institutional interest, combined with the bullish technical analysis, suggests that Cardano is gaining steam and could be poised for a significant climb in the near future.
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