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Key Takeaways:
- ADA has surged over 60% in a month, recently reaching $0.92 before a mild correction.
- Open interest and trading volume are at record highs, signaling continued bullish momentum.
- TOKEN6900’s presale is capturing attention, offering a speculative opportunity while ADA consolidates.
Cardano’s ADA token has experienced a significant upswing, surging more than 60% in the past month. At press time, ADA was trading at $0.8725, down 1.39% on the day, but still holding on to a strong mid-term uptrend. On July 21, the token briefly touched $0.92 — its highest level in four months.
This upward price movement coincides with improved investor sentiment, reflected by a major spike in open interest (OI), which has now hit a record high. Increased OI generally indicates new capital entering the market, suggesting that traders are positioning for further gains.
Technical Indicators Point to a Return to $1
ADA’s recent price action has brought optimism among bulls. The weekly Relative Strength Index (RSI) currently stands at 58, above the neutral 50 mark, suggesting growing buying momentum. Technical charts show that ADA is preparing for another push toward the psychological $1 resistance.
Open interest for ADA futures jumped from $1.18 billion on June 14 to $1.66 billion on July 21 — a new daily all-time high. Combined with strengthening fundamentals, this rise in OI supports the thesis of continued upside potential.
Cardano’s Ecosystem Growth Adds Fuel
Cardano’s Total Value Locked (TVL) surpassed $412 million this week, according to DeFiLlama — a sign of growing on-chain activity. Meanwhile, Token Terminal data shows that ADA Chain’s weekly token trading volume surged from $8.12 billion to $10.3 billion within one week — the highest volume since mid-March.
This liquidity influx has helped reinforce Cardano’s bullish trend, as more traders and developers flock to the platform. The combination of rising TVL, trading volume, and open interest has positioned ADA favorably for a breakout past $1.
Also Read: Cardano (ADA) Price at Risk: $0.749 Liquidation Cluster Threatens Sharp Breakdown
TOKEN6900 Presale Gains Steam Amid ADA Cooldown
While ADA consolidates, investor attention is shifting to the presale of TOKEN6900 — a high-risk, high-reward crypto that’s grabbing headlines. The token defies conventional narratives, offering no traditional utility and marketing itself as a social experiment with bold tokenomics.
With $977,000 already raised and a presale price of $0.006675, TOKEN6900 is drawing early adopters thanks to its viral appeal. A unique allocation model — 40% for marketing, 10% for liquidity, and 5% for staking — adds intrigue to this unorthodox project.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
