South Korea Boosts ADA Trading to Global Third as Price Rises 19.38%

South Korea has propelled Cardano (ADA) trading to the third-largest globally, with the ADA/KRW pair on local exchange Upbit recording $126.7 million in 24-hour volume, surpassing Coinbase’s ADA/USD pair by nearly double. The pair currently commands 5.52% of global ADA liquidity, with a stable price of $0.9149, indicating growing interest and market depth in the region [1].

Binance remains the dominant platform for ADA trading, with its ADA/USDT market leading in 24-hour volume at $254.6 million, representing 11.10% of the global ADA trading activity. The ADA/USDC pair also held significant volume at $149.5 million, or 6.52% of the total. Liquidity metrics further underscore Binance's influence, with $4.44 million in order book support within +2% and $2.67 million within -2%. Upbit also demonstrated strong depth, with $1.5 million within +2% and $1 million within -2%, signaling South Korea’s expanding footprint in the global crypto market [2].

ADA’s price has shown notable strength over the past week, rising 19.38% and reaching nearly $1 before consolidating between $0.90 and $0.95. The token opened at $0.7814 on August 13, followed by a sharp rally that pushed it above $0.90 on August 14. Despite a subsequent retracement, ADA has remained stable around $0.927, with consistent rebounds observed whenever the price approaches the $0.90 support level [3].

Long-term price analysis reveals that ADA has been in an ascending channel since early 2020, with a key support zone near $0.45 and resistance around $1.10. The accumulation zone at $0.45 has historically provided strong support, while the $1.10 level has been repeatedly tested and rejected. A successful breakout above this resistance could open the door to higher price targets, including $2.89, $6, $10, and even $20, based on channel projections and liquidity indicators [4].

The growing trading activity in South Korea reflects broader adoption and institutional interest, with local exchanges playing an increasingly influential role in global crypto markets. While short-term volatility remains, the persistent upward trend and accumulation patterns suggest that ADA is in a favorable position for potential long-term gains, provided it maintains its trajectory above key support levels and continues to attract capital in high-volume trading hubs [5].

Source: [1] Cryptonewsland (https://cryptonewsland.com/south-korea-pushes-cardano-trading-to-thi/)