Cardano daily transactions achieved the level of over 50,000 as ETF approval hopes are rising and analysts predict a major breakout in mid-June.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
Cardano ADA $0.71 24h volatility: 3.3% Market cap: $25.55 B Vol. 24h: $547.02 M is showing renewed on-chain strength, marking a major spike in daily transactions. According to data shared by TapTools, Cardano’s daily transactions have surged past 50,000 — a major leap from the sub-30,000 levels seen earlier in May.
JUST IN: Daily Cardano $ADA transactions have climbed from ~30,000 to nearly 50,000 since the start of May. pic.twitter.com/MkDBkizB34
— TapTools (@TapTools) May 27, 2025
Transaction volume has also surged 6% to $692 million in the last 24 hours, indicating strong user engagement across the network.
Additionally, Cardano Feed reported that $680 million worth of ADA tokens have exited exchanges, a trend often linked to self-custody and long-term holding.
ADA’s community is also eyeing the decision by the US Securities and Exchange Commission (SEC) on the approval of a spot ADA ETF, expected on May 29. Amid the rising market optimism, approval odds for such a product have climbed to 71% on prediction platform Polymarket.
A favorable ruling could drive institutional interest in Cardano similar to the momentum seen after Bitcoin and Ethereum ETF approvals last year.
At the time of writing, ADA is trading around $0.75, up by 5% in the past month. Crypto analyst Leader Alpha has described ADA’s current formation as one of the largest bull flags in the crypto space.
According to the analyst, the cryptocurrency is nearing a key breakout point on its monthly chart. He predicted a breakout around mid-June, potentially leading to a massive price spike.
$ADA has one of the biggest bull flags in crypto rn. This multi year resistance line may break up around mid June. When this breaks, we should see a jaw dropping god candle that will make many shit the bed
Bullish #Cardano @hoskytoken $HOSKY pic.twitter.com/xlHFaHP0OB
— Leader Alpha (@LeaderAlphaNews) May 26, 2025
On the daily ADA price chart, the RSI stands at the neutral region with a slight bullish tilt. It gives ADA room to move in upward direction. If ADA breaks above $0.80, it could aim for $0.88 and $1.00 in quick succession.
ADA price with RSI and Bollinger Bands | Source: TradingView
Bollinger Bands show price tightening near the middle band, indicating a consolidation period. However, a squeeze like this often leads to a sharp move. A strong close above the mid band (20-day SMA) around $0.78 could signal a bullish breakout, while support lies around $0.70.
Meanwhile, the MACD indicator shows bearish crossover signs with the MACD line dipping below the signal line. This could suggest short-term weakness, with a drop below $0.70 exposing the token for a $0.64 level retest.
ADA price with MACD | Source: TradingView
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
