Crypto: Cardano Soars With a Record Transaction Volume!
July has not been kind to ADA crypto, but Cardano’s performance is evolving independently of its price volatility. The recent surge in trading volume is clear evidence of this. With a 32% increase in derivative volume and a notable rise in spot markets, enthusiasm for ADA remains strong. Let’s take a closer look at what lies behind these impressive numbers.
A crypto that takes off despite the storm
The world of cryptocurrencies is not a smooth journey, and Cardano (ADA) is no exception. In 24 hours, the volume of this crypto’s derivatives exploded by 32.09%, reaching a staggering turnover of $457.71 million, according to CoinGlass.
Adding to this, there’s been a 20% increase in spot markets, bringing the total trading volume to over $800 million.
Not bad for a crypto that saw a 5% drop at the beginning of the week.
Despite this turbulence, Cardano found crucial support at $0.38, a level where rational traders seem to rush in.
- Derivatives volume: $470.53 million;
- Spot markets: $358 million;
- Total market cap: $13.9 billion.
This momentum shows that despite the ups and downs, interest in ADA remains solid, and investors keep a close eye on this crypto with multiple strengths.
Cardano ADA: Rock-solid resilience
Cardano isn’t one to be easily beaten. After last week’s plunge, the crypto found refuge at $0.38, a critical support level.
The burning question is whether ADA can maintain this course or if this support will turn into resistance.
For now, bullish Cardano traders can breathe a bit easier. According to CoinGlass data, “the increased activity on Cardano is due to ADA’s price reaching a major support level.“
Investors now need to closely monitor these crucial levels to anticipate future movements of this crypto.
Cardano demonstrates a remarkable ability to withstand pressure, proving that resilience is in its DNA. Sales are slowing, but enthusiasm remains palpable, a promising sign for the future of this crypto.
