Overview
- On‑chain data from Santiment shows wallets holding 100,000–100 million ADA added about 819.4 million coins over six months, increasing their share by roughly 1.6% of circulating supply.
- ADA jumped 12–14% to trade around $0.30–$0.31, breaking short‑term resistance after weeks of consolidation as trading volume swelled to nearly four times its average.
- Grayscale raised Cardano’s weight in its Smart Contract Platform Select Capped Index to above 20%, making ADA the fund’s third‑largest holding.
- Futures open interest expanded nearly 30% in a day, a sign of fresh capital that also heightens the risk of short squeezes and sharp reversals.
- Analysts highlight an ascending triangle with near‑term targets around $0.34–$0.36, yet indicators such as a slightly negative Chaikin Money Flow and subdued DeFi TVL point to mixed underlying strength.