According to market data, over 1.05 billion ADA units have been traded in the past 24 hours. This increase in activity comes as Cardano’s price fluctuated significantly last week, dropping to $0.6872. However, the digital currency is currently trading around $0.70. Coin Glass reports estimate the future value of Cardano trades at $750 million. The largest positions are recorded on Binance with a value of 253 million ADA. Following Binance, OKX, Bittrex, and Crypto.com have also seen increased activity in the Cardano futures market. Analysts believe this surge in trading signals significant changes in ADA’s price trend. Some analysts think the consolidation phase is ending, potentially leading to a new uptrend. Cardano’s founder, Charles Hoskinson, remains optimistic about 2025 and anticipates a strong upward market trend. However, technical indicators are worrying investors. ADA is currently testing the 50-day simple moving average at $0.707, and breaking this support could lead to a drop to $0.62. On the other hand, if Cardano surpasses $0.77, there is a possibility of growth up to $0.85. The ADA futures market has seen significant growth in the past 24 hours, with trading volume reaching 1.05 billion ADA. While some analysts hope for the end of the consolidation phase and the start of an uptrend, selling pressure and the possibility of a Death Cross formation continue to pose downward risks.
