Cardano’s $1 Barrier: Do Institutional Bets Signal a New Era?
Cardano (ADA) has experienced a significant surge in futures volume, reaching a five-month high of $6.96 billion on August 14, as institutional and retail demand for the cryptocurrency continues to grow, Glassnode data reveals. This spike marks the highest level of futures trading volume observed since March 2025, signifying a noteworthy uptick in market activity.
The surge in ADA’s price, surpassing both the $0.98 and $1.00 psychological thresholds, is supported by technical patterns such as a bullish triangle breakout and a rising relative strength index (RSI). Analysts have pointed out that the recent surge in trading volume coincided with ADA’s breakout above key resistance levels, with the price climbing to $0.98 after a period of consolidation and now approaching the $1.00 mark. The breakout from a symmetrical triangle pattern on the weekly chart is seen as a positive sign pointing towards potential upward momentum, with predictions suggesting a price target of $2.12 if the positive trend continues. The rising RSI from 41 to 59 further indicates growing bullish momentum on higher time frames, reinforcing the positive outlook for ADA’s price [1].
Institutionally, confidence in Cardano is on the rise, with the establishment of Grayscale’s Cardano Trust in Delaware sparking speculation about a potential ETF approval. Polymarket data shows that the probability of a Cardano ETF approval has increased to 81% from 59% in a matter of days, enhancing market expectations for further institutional adoption. If an ETF is approved, it could significantly enhance ADA’s market liquidity and appeal to a broader investor base, setting the stage for further positive price movements [2].
The DeFi ecosystem surrounding Cardano has also shown signs of growth, with total value locked (TVL) rising by 56% to $423.6 million, its highest level since March. Historical trends have indicated a correlation between TVL expansion and ADA price rallies, suggesting that continued growth in TVL could fuel further bullish sentiment in the market. Additionally, significant whale activity has been observed, with $25.94 million in ADA outflows from exchanges. This reduction in circulating supply is seen as a positive indicator of long-term confidence in ADA, potentially supporting further price appreciation [2].
The South Korean market has emerged as a key driver of ADA trading volume, with the ADA/KRW trading pair surpassing ADA/USD in terms of trading activity. This shift underscores the increasing global adoption of Cardano, particularly among retail investors in regions with high trading volumes. As the altcoin market gains momentum, ADA’s strong technical indicators, institutional developments like Grayscale’s Cardano Trust, and the expanding DeFi ecosystem position it as a standout performer in the cryptocurrency landscape [2].
