Cardano (ADA) Price Nears 2025 High – Bulls Eye $10 ADA Backed By Institutional And Retail Demand

ADA, the native asset of the Cardano blockchain, has emerged as one of the hottest cryptocurrencies of the year, posting an impressive 62% gain over the past 30 days as it rapidly approaches the key psychological $1 level.

Trading volume for Cardano jumped by 20% in the past 24 hours, as participation from both retail and institutional investors has increased substantially. The ninth-largest cryptocurrency’s current volume now accounts for 8% of its total market capitalization, which stands at $30.56 billion.

ADA Market Sentiment Flips Positive As OI Hits Record High of $1.7 Billion

Market sentiment for ADA has shifted dramatically from bearish to bullish, with the Fear & Greed Index for the token climbing to 67, suggesting that it is now in the “Greed” territory and reflects increased optimism among traders and investors. The current rally has brought Cardano’s price within striking distance of $1, a level it hasn’t matched since February 2025.

According to Coinglass data, open interest (OI) in ADA futures contracts has surged to a record high of $1.7 billion, surpassing its previous peak of $1.5 billion, which was registered during the 2021 bull run, when the cryptocurrency also recorded its all-time high of $3.10. While there is renewed investor interest in Cardano, it is still trading 72% below its peak valuation from four years ago.

The spike in trading activity can be attributed to the recent regulatory developments in the United States, where President Donald Trump has signed the GENIUS and CLARITY Acts into law, improving the long-term outlook for leading crypto assets such as Cardano, potentially attracting more institutional capital into the niche market.

Tokeo Wallet Releases Crypto-Powered Debit Card that Enables ADA Payments via Apple Pay

Reports are also circulating about Cardano-based decentralized applications gaining Apple Pay support through the newly launched CardanoKit SDK. While there is no confirmation from official channels, the news is going viral within the crypto community.

Tokeo wallet co-founder “Shaz” was quick to dismiss these claims, stating in an X post that social media was taking things way out of proportion. However, the cross-chain smart wallet is working on a feature that will enable Cardano functionality on Apple devices, but the open-source development project is still in its early stages.

Shaz confirmed that Tokeo is “weeks away” from launching a new crypto-enabled MasterCard payments card, developed in partnership with crypto payments gateway provider Mercuryo, that will allow users to spend ADA via Apple Pay.

The narrative surrounding the rumored CardanoKit signals the growing appetite for seamless crypto payments across leading mobile platforms – iOS and Android. While cryptocurrencies are not directly supported by Apple Pay, the infrastructure being developed by companies like Tokeo could bridge the gap between traditional and crypto finance through indirect routes, such as card-linked payments.

Technical Indicators’ Alignment Suggests Cardano Price Could Target $2.60

The price of Cardano has managed to successfully jump above its key resistance level at $0.85, which previously served as a ceiling for its price action. Its exponential moving averages (EMAs) now have a bullish alignment, with both the 9 and 21-day EMAs crossing above the 200-day EMA. This is considered a classic bullish crossover pattern that often precedes upward price movements for an asset.

The latest price breakout has formed a golden cross between ADA’s short-term 9 and 21-day EMAs, which is a clear trend reversal from previous bearish conditions. This momentum indicator suggests that upward price momentum for Cardano may continue in the near term.

An analysis of the weekly chart reveals that ADA has been trading within a descending parallel channel since November 2024, and appears ready for a major breakout. The crypto has formed bullish weekly candles for six consecutive weeks, indicating sustained buying pressure in the market.

The current rally was triggered after a triple bottom pattern formed on the price chart around Cardano’s $0.60 support level earlier this year. Other technical indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), for ADA continue to generate bullish signals previously observed during previous major rallies.

Historical data shows that when these indicators align, Cardano price has experienced gains ranging from 176% to 316%, and if these patterns are to repeat, the cryptocurrency could target a $2.60 valuation at the least. A more realistic short-term target for ADA is the next key liquidity area at $1.18, representing a 34% rise from current levels.

Will Cardano Surpass Solana in DeFi Dominance and Hit $10 per ADA?

Traders are aiming for $10 ADA, but to hit the mark, Cardano’s market capitalization would have to surpass $300 billion, and become the third-largest cryptocurrency by overtaking Solana (SOL) – its chief rival – in the process.

Flipping Solana is a hard task because Cardano has a relatively small DeFi footprint, with only $300 million in total value locked (TVL) on native applications compared to the $9 billion TVL of Solana-based DApps. However, bullish market conditions and increased institutional demand could help ADA close its gap to SOL in the long run.

At the time of writing, Cardano (ADA) is trading at $0.8617, down 1.84% in the last 24 hours.