Cardano’s native token ADA surged more than 15% this week, climbing above $0.160 by Friday. This rally coincided with two significant developments: major wallet holders accumulated ADA during recent price corrections, and a new payment integration expanded ADA’s reach across millions of businesses worldwide.
Expansion of Cardano payment infrastructure draws attention
Community contributor MB announced that the recently launched ADA Pay plugin now enables over 7 million businesses globally to accept Cardano for payments. Cardano, known for focusing on smart contracts and digital payment infrastructure, is thus expanding its footprint in global commerce.
MB stated the ADA Pay plugin has opened up Cardano payment acceptance to more than 7 million businesses worldwide.
The new solution reportedly streamlines the process for businesses, reducing the need for extensive custom software development. If adoption continues to grow, consumers could soon use ADA for everyday purchases at a vast network of merchants, lowering adoption barriers for cryptocurrency payments.
Large wallets accumulated during the dip
According to on-chain analytics platform Santiment, wallets holding between 100,000 and 100 million ADA accumulated a total of 150 million ADA since June 25. This accumulation took place amidst a broader market pullback, suggesting strategic buying on the part of significant investors.
Such concentrated buying in downturns often indicates that major holders see current valuations as attractive. At the same time, less available supply for immediate sale can help ADA prices stabilize or rebound more robustly from recent lows.
| Metric | Value |
|---|---|
| Weekly price performance | Over 15% increase |
| ADA added by large wallets | 150 million |
| Merchants reached via payment integration | More than 7 million |
| Open interest in ADA futures | $403 million |
Interest grows in the ADA derivatives market
Cardano’s market capitalization now stands at approximately $5.78 billion, with daily trading volume approaching $500 million. This surge in activity points to renewed bullish interest among traders and investors.
Open interest in ADA futures climbed from $335 million in mid-June to $403 million by Friday. This simultaneous rise in price and open interest is typically interpreted as a direct inflow of new capital into the market, rather than just traders shifting existing positions.
On Monday, the funding rate for ADA futures turned positive, reaching 0.0085% by Friday’s trading session. In this structure, investors holding long positions pay those holding shorts, signaling a growing optimism about ADA’s near-term trend.
Globe Of Crypto notes that ADA bounced from support within a falling wedge pattern. Should a breakout occur, the platform forecasts a strong mid-term recovery toward the $0.35 level.
Key resistance at $0.173, support at $0.138
Technically, the relative strength index (RSI) is hovering near the 50 level, while the MACD indicator remains slightly above zero, reflecting a period of consolidation rather than rapid acceleration.
Dave, one of Cardano’s core developers, highlighted that the network’s eUTXO architecture—short for Extended Unspent Transaction Output—enables clearer estimation of transaction fees and resulting outcomes before execution. This model aims to make transaction logic more predictable, reducing failed transaction risks especially in financial applications where cost management is crucial.
Mini glossary: eUTXO is a model that defines in advance which inputs and outputs a transaction will use. It reduces risks of failure by providing greater predictability for future costs and results, which is particularly valuable for financial applications.
On the technical chart, $0.173 stands out as a critical resistance level for ADA, with further sell pressure expected in the $0.185 to $0.245 range. If the price pulls back, structural support is found near $0.138, offering a safety net for bulls as the market digests this week’s gains.
