Cardano Spikes 92% in Volume as Big Money Eyes ADA Again

Cardano (ADA) just made a statement. After months in a sideways slumber, the eighth-largest cryptocurrency by market cap finally broke above its 200-day moving average — and did so with flair. On Thursday, July 17, ADA jumped nearly 6% and closed the day at $0.8101. That move wasn’t just another blip. It came backed by a jaw-dropping 92% surge in volume and a 12% spike in Open Interest, hinting at something much bigger brewing beneath the surface.

Some say it’s a flash in the pan. Others argue it’s the early signs of a major rotation. But with $290.88 million in daily volume and institutional exposure hitting $1.45 billion, Cardano suddenly looks alive again.

The Technical Breakout That Turned Heads

First things first — this wasn’t random. Traders have been watching the 200-day moving average like hawks, and ADA finally pushed through.

Since March, Cardano had failed to close a single daily candle above that critical line. Yesterday, it finally did. That average — sitting at around $0.7476 — has acted as a brick wall for months. Now it’s been cleared, and that’s not something traders shrug off.

It’s the kind of breakout that gets chart watchers, algorithms, and old-school investors all paying attention at once.

And you know what? They did.

Follow the Volume: Where the Big Money’s Flowing

Volume doesn’t lie. In fact, it often speaks louder than price itself. Cardano’s daily trading volume skyrocketed to $290.88 million — up 92.42% in just 24 hours.

What does that kind of volume jump really mean? Here’s what it often signals:

• Renewed spot demand from serious buyers

• Increased confidence from institutional desks

• Confirmation that the price move wasn’t just noise

Sure, sometimes volume spikes after a breakout. But in ADA’s case, it moved with the price — not after it. That’s a big distinction.

One-liner here: Spot demand is back.

Derivatives Are Lighting Up Too

Open Interest — basically the number of active futures contracts — tells another part of the story. ADA’s Open Interest shot up 12.06% to $1.45 billion, its highest point in weeks.

No huge spike in liquidations accompanied this jump. That’s crucial. It means traders weren’t just short-squeezed into buying. They chose to enter positions — likely with conviction.

This kind of derivatives activity hints at bullish positioning from bigger players, not just retail momentum.

One sentence for rhythm: It’s quiet confidence, not panic buying.

Where Do Things Go From Here?

With price now above the 200-day moving average, eyes are on what comes next. ADA needs to hold a key level: $0.76. That’s the new “must-defend” line for bulls.

If that support holds, then a push toward $0.9053 is on the cards. That’s the resistance level to watch. A close above that, and we’re talking about a full-blown macro bullish breakout.

Here’s a quick breakdown:

So yes, it’s crunch time. The market’s got its eyes wide open.

Why the Rotation into ADA Might Just Be Starting

It’s not just charts. There’s also sentiment — and that’s changing fast.

With Bitcoin and Ethereum moving sideways, altcoins like ADA are getting another look. The recent flurry of developer updates from Input Output Global, the firm behind Cardano, has helped too.

There’s chatter about Hydra scaling progress. There’s growing traction on-chain. And for value hunters? ADA still looks cheap compared to its 2021 highs.

Also worth noting — ADA has lagged many Layer 1 competitors in recent months. That makes it a prime candidate for a catch-up rally.

Short paragraph here: Sometimes underperformance becomes opportunity.

One Day Doesn’t Make a Trend — But It Might Start One

Let’s be clear — one green candle doesn’t mean Cardano’s in the clear. But it’s the context that matters.

Volume? Up. Open Interest? Up. Liquidations? Not up. Support levels? Holding.

So is it a breakout or a bull trap? Time will tell. But if price holds above $0.76 and momentum continues, ADA could be setting up for a summer resurgence.

For now, one thing is obvious: the rotation into ADA has started — and the big money seems to be leading the way.