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- There has been a surge in network activity and technical strength; bulls believe ADA could ride this wave to $0.8599.
- ADA’s open interest just jumped 12% in the past 24 hours to $1.43 billion, while its trading volume has seen a slight uptick.
Cardano (ADA) is looking strong in the 2025 crypto market. It’s trading at $0.80 after climbing 11% in the past week and 4.83% in the last 24 hours, with bulls eyeing a move toward $0.86. The recent breakout is holding above $0.7854, now acting as support, with $0.8599 as the next big target, a level last seen on July 23.
If things slip, a drop below $0.7854 could send ADA down toward $0.7589, but for now, momentum is on the bulls’ side.
On-chain data adds to the optimism. Santiment reports that Unique Active Addresses jumped to 30.9K on Friday from 29.6K the day before, showing more users are interacting with the network. Even better, the ratio of profitable on-chain transaction volume versus losses has soared to 4.808 from 1.790.
Unique Active Addresses (UAA) jumped from 29.6K to 30.9K in a single day, showing a clear spike in on-chain activity. Even more telling, the profit-to-loss transaction volume ratio shot up from 1.79 to 4.8, meaning far more users are moving assets in profit than at a loss.
According to DeFiLlama, Cardano’s DeFi scene is heating up. The total value of assets locked in its DeFi protocols has climbed to $359.9 million, up an impressive 13.87% in just the last 24 hours, while the market cap of stablecoins built on or used within Cardano sits at $37.56 million.
On the derivatives side, CoinGlass numbers show ADA is getting attention. Trading volume for ADA derivatives surged by 127.43% to $2.95 billion, and open interest rose 9.26% to $1.45 billion. A sign that more money is flowing into positions.
The options market, however, tells a different story: options volume dropped sharply by 92.94% to just $6.59K, while options open interest saw only a slight dip of 0.27% to $374.92K.
ADA’s Momentum Builds
As we mentioned earlier, ADA could be on track to hit the $1 mark if these developments keep rolling, and network activity could see a serious boost. Cardano is gearing up for the launch of its Midnight sidechain, and things are already heating up. Soon, the project will kick off the Glacier Drop, a massive airdrop of 24 billion NIGHT tokens.
The airdrop will cover over 37 million participants from eight different chains, ranging from Cardano, Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Avalanche (AVAX), Ripple, and BAT.
Midnight is already live on the testnet, with the mainnet launch planned for 90 days after the Glacier Drop. On top of that, there’s a U.S.-listed Cardano ETF in the works, filed by Grayscale and expected to be reviewed by October 2025. Analysts see this as a major vote of confidence in ADA’s real-world utility and long-term potential.
Meanwhile, Cardano’s core development team, Input Output Global (IOG), has secured approval to draw 96 million ADA, roughly US$71 million (AU$109 million), directly from the network’s treasury. This funding will fuel a 12-month development roadmap.
The plan is to focus on scaling through protocols like Hydra, improving developer tools, streamlining onboarding with Project Acropolis, and boosting cross-chain compatibility. IOG also aims to lower RAM usage and cut operational costs for stake pool operators, making the ecosystem even more efficient.
