Cardano’s Open Interest has seen a notable 14% increase, while its price has reached a high last seen in early June.
All attention is on Cardano ADA $0.82 24h volatility: 1.2% Market cap: $29.81 B Vol. 24h: $1.77 B price as the altcoin reaches new highs amid the broader crypto market recovery.
The coin has successfully climbed by 58% from its June low and is now aiming to breach the $1 resistance should the rally persist. It is worth noting that this is the best run the 10th-largest crypto by market cap has had in months.
Cardano and Bullish Performance Data
Cardano’s Open Interest spiked 14% in the past 24 hours, climbing to $2.14 billion per Coinglass data. Similarly, Cardano price has surged past $0.85, amid the bullish sentiment that trickled down from the Bitcoin BTC $110 434 24h volatility: 2.7% Market cap: $2.20 T Vol. 24h: $43.43 B blowout.
Much of this improved sentiment is supported by solid technical moves and massive trading volumes.
ADA is currently trading at $0.8575, following a 4.45% spike over the last 24 hours.
This is the highest price ADA has reached in weeks, with a 17.29% gain over the past seven days. At this pace, a move toward $1 looks increasingly likely.
Cardano 7D Price Chart | Source: CoinMarketCap
Its market capitalization has now reached $30.35 billion, while the 24-hour trading volume of the coin is 53.31% higher, standing at $3.39 billion. With the over 50% trading volume spike, ADA has confidently cleared $0.83 resistance and now confronts the obstacle at $0.90-$0.92.
While there are several catalysts propelling the ADA price at the moment, the passing of key legislation for digital assets in the United States has a significant role to play in its bullish outlook.
The GENIUS and CLARITY Acts were passed by the US House on July 17, pushing cryptocurrencies, especially altcoins, towards higher price gains.
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Current Presale Stats
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