Cardano Trading Volume Surges Amid Frenzied Interest in South Korea

Cardano's trading volume has surged in South Korea, with its volume on major exchanges nearly double that of Coinbase in the last 24 hours. This comes amid a price resurgence for Cardano, with its native token ADA gaining 17% in the last two weeks. The surge in volume has also been driven by whales piling into Cardano, with transactions worth at least $100,000 reaching their highest level in five months. The network is also among contenders for an approved altcoin ETF by the SEC.

Cardano's trading volume has experienced a significant spike in South Korea, with the volume on major exchanges nearly doubling that of Coinbase in the last 24 hours. This surge comes amid a price resurgence for Cardano, with its native token ADA gaining approximately 17% in the last two weeks [1].

The frenzied trading activity has been driven by a combination of factors, including the involvement of whales. Transactions worth at least $100,000 in Cardano have reached their highest level in five months, indicating substantial interest from large investors [1]. Furthermore, Cardano's trading volume on South Korean exchanges has exceeded that of BNB, the fifth-largest cryptocurrency by market value, by more than $1.2 billion [1].

The South Korean crypto exchanges, such as Upbit and Bithumb, enforce strict customer identification laws and require crypto trading accounts to be tied to domestic bank information, which prevents foreigners from trading on these platforms. This local focus likely contributes to the significant trading volume observed [1].

Cardano's surge in popularity is not limited to South Korea. Onchain data from Santiment shows that whales are also piling into Cardano outside of South Korea, with transactions worth at least $100,000 reaching their highest level in five months [1]. Additionally, Cardano is among the major cryptocurrencies for which major investment funds have filed exchange-traded fund applications with the Securities and Exchange Commission (SEC) [1].

In July, Bloomberg Intelligence ETF analysts Eric Balchunas and James Seyffart noted that Solana, Litecoin, XRP, and Cardano are among the contenders for an approved altcoin ETF by the SEC [1]. This could further boost Cardano's visibility and liquidity in the financial markets.

Cardano's price has surged over 33% in the last week, climbing above $1 for the first time since March 2025. However, it experienced a pullback and was trading below $0.918 at the time of writing [2]. Despite this recent pullback, Cardano's market cap remains bullish, sitting at over $32.7 billion [2].

Crypto analysts, such as Ali Martinez, predict that Cardano could break out of a bullish triangle and reach a target of $1.10 in the near future. The surge in ADA futures volume, which reached $6.96 billion for the first time in the past five months, has triggered bullish sentiments and increased optimism among investors [2].

In conclusion, Cardano's trading volume surge in South Korea, driven by whales and potential ETF approvals, highlights the cryptocurrency's growing interest and potential for future growth. The combination of local and global factors suggests that Cardano may continue to attract significant investment.

References:
[1] https://www.dlnews.com/articles/markets/cardano-trading-volume-spikes-frenzied-interest-south-korea/
[2] https://coinedition.com/cardano-futures-volume-hits-record-5-month-high-ada-eyes-breakout/