- The volume of the Cardano (ADA) crypto declined over the last 24 hours.
- ADA price has advanced by 53.6% in the last one year.
Cardano (ADA) is a Proof-of-Stake blockchain platform, founded by Charles Hoskinson and Jeremy Wood in 2017. It prioritizes sustainability and scalability, featuring smart contracts and dApps via its Ouroboros consensus.
ADA serves as Cardano’s native token, facilitating transactions, governance, and staking rewards. Its upcoming era, Voltaire, emphasizes community governance and treasury management.
The options trading volume of the Cardano token has declined by 92.9% in the last 24 hours following which the derivatives volume has also declined by 18.8%. Also, the spot trading volume of the crypto has declined by 16.19%.
The following decline in the volumes of the token indicates the lack of interest of investors over a period of time.
Over the last 24 hours, the market cap of the crypto has not witnessed any significant change resulting in a market cap value of $19.465 Billion. Also, Cardano is the 8th largest cryptocurrency in the global cryptocurrency market.
The trading volume of the crypto in the last 24 hours stood at $428.51 Million which is 2.19% of the market cap of the crypto. Moreover, the market cap dominance of the token is 1.0% in the crypto market and the volatility of the crypto is 4.61%.
Cardano Token Blockchain Data Overview
The stablecoin market cap of the Cardano token is $18.21 Million and the total value locked of the crypto is $370.55 Million. The treasury of the crypto is nil and the total raised amount by the crypto is $62.24 Million.
The fully diluted market cap of the crypto is $24.719 Billion and the max supply of the crypto is 45.0 Billion ADA. Also, the total supply of the Cardano is 36.613 Billion ADA and the circulating supply of the crypto is 35.451 Billion ADA.
ADA Crypto Technical Analysis
Strong swing highs can be seen on the weekly chart of the ADA crypto. Further ahead, the price of the token is sustaining the lows and is currently advancing to higher levels.
The following behavior of the crypto price has led to the formation of higher high swings and broke above a crucial swing high. The ADA trading price is currently above the same indicating the presence of buyers in the market.
ADA/USD Chart by TradingView
The 20 and 50-Day EMAs has formed a fresh bullish cross on the daily chart of the ADA crypto. Also, the 50-Day EMA is trading above the 200-Day EMA resulting in a golden cross. The price of the token is also trading above the following EMAs.
The MACD indicator also shows strength in the crypto price as the signal line is trading below the MACD line and both lines have advanced above the zero level.
The RSI is also following a bullish cycle on the daily chart of the crypto. It has advanced above the 50-level and the 14-day SMA.
Summary
The Cardano (ADA) crypto displays bullish signals as trading volume declines, indicating investor disinterest. However, ADA price surged by 53.6% in a year, sustaining strong swing highs and forming higher highs on the weekly chart. Technical indicators show bullish momentum with EMAs forming a golden cross and MACD signaling strength.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.