Cardano’s ADA Surges 3% as Staking Addresses Exceed 1.3 Million
Cardano’s ADA token increased by 3% in the last 24 hours, trading at approximately $0.6460 after reaching a high of $0.6502. This price movement aligns with a new staking milestone, indicating the network's long-term viability.
Key facts include:
- Cardano surpassed 1.3 million staking addresses, becoming one of the most widely staked blockchains.
- Founder Charles Hoskinson proposed allocating $100 million in treasury ADA to Bitcoin and stablecoins to boost DeFi liquidity.
- Recent whale outflows exceeded 270 million ADA, yet market sentiment remains positive.
Technical analysis details:
- ADA traded between $0.6219 and $0.6502, showing a 4.55% intraday range.
- The price broke above $0.635 resistance and established support at $0.637, later confirmed at $0.648.
- Higher lows and increasing volume indicate a bullish continuation pattern.
- At 07:15–07:16 GMT, ADA surged nearly 0.4% on a volume exceeding 5.3 million units, marking the most active minute.
- By the end of the analysis period, ADA rose from $0.646 to $0.649 before consolidating around $0.646.
- The final hourly candle closed with a 0.5% gain, maintaining an uptrend structure.