Cardano's Price Surge: $1.26 Billion Locked in Open Interest Amid Bullish Setup.

Cardano's price has surged, reaching an intraday peak of $0.7542, with $1.26 billion worth of ADA locked in open interest. However, the asset's volume has dipped by 15.8%, raising questions about investors' engagement. Despite this, technical indicators favor an upward trajectory, and the recent Emurgo Cardano Card launch has boosted network activity.

Cardano (ADA) has experienced a significant price surge, reaching an intraday peak of $0.7542, according to data from crypto.news [1]. This upward movement comes amidst a backdrop of increased network activity, driven in part by the recent launch of the Emurgo Cardano Card. Despite a dip in trading volume by 15.8%, technical indicators suggest a favorable outlook for ADA.

The Cardano price has been supported by a bullish double-bottom pattern, a potential reversal signal that could pave the way for a sustained rally [1]. ADA has gained 25.5% over the last 7 days and 42% from its year-to-date low, reflecting strong bullish momentum. As of July 2, 2025, the asset held a market capitalization of $27 billion and a 3.9% gain over the past 24 hours.

The Emurgo Cardano Card, a new multi-functional payment and finance tool, has been a catalyst for this price action. The card allows users to stake ADA, earn yields from DeFi and real-world assets, access collateralized loans, and direct a portion of the card’s profits into the Cardano treasury [1]. This development underscores Cardano's commitment to enhancing its utility and driving adoption.

On-chain metrics have also turned positive for ADA. Total value locked (TVL) in ADA across all protocols has jumped by 93% over the past 7 days, indicating rising capital inflows and renewed investor interest [1]. Since July, the total TVL within Cardano’s DeFi protocols has climbed by 28%, reaching $438 million.

Technical analysis further supports the bullish case for ADA. The 20-day simple moving average (SMA) is poised to cross above the 50-day SMA, forming a bullish golden cross, a positive technical indicator [1]. Additionally, the 1-day/USDT price chart shows ADA closing in on a crucial resistance level at $0.76, which could lead to a sustained rally if breached.

However, the recent dip in trading volume suggests that investor engagement may be waning. Despite this, the positive sentiment reflected in the weighted funding rate, which has climbed to 0.012%, indicates that more traders are betting on the price to go up [1].

In conclusion, Cardano's price surge is supported by strong bullish indicators and a significant network activity boost. While the recent volume dip is a concern, the overall technical and on-chain data suggest a favorable outlook for ADA. Investors should keep an eye on the asset's performance and the potential impact of future developments, such as the Vasil hard fork, which is anticipated to introduce several upgrades to the blockchain's smart contract programming language and network capacity [2].

References:
[1] https://crypto.news/cardano-shows-strong-recovery-signs-as-ada-confirms-bullish-double-bottom-pattern/
[2] https://coinmarketcap.com/currencies/cardano/