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Cardano Reaches Major Milestone with 110 Million Transactions
Cardano, one of the leading blockchain networks, has officially crossed 110 million total transactions, underscoring its continued adoption and growth within the crypto ecosystem. According to data from Cardanoscan, the platform now boasts over 110.09 million transactions—a testament to the robust and expanding community utilizing Cardano for decentralized applications and token transfers.
The Cardano staking landscape also remains vibrant, with nearly 22 billion ADA currently staked across 2,992 active pools. This high level of community participation highlights strong support and commitment to network security and decentralization.
ADA Price Action Remains Weak Despite Network Growth
Despite these positive on-chain developments, Cardano's native token ADA has struggled in the markets. At press time, ADA is trading at $0.6811, registering only a modest 0.9% gain over the previous 24 hours. Over the past week, however, ADA is down more than 11%, reflecting sustained bearish sentiment among cryptocurrency investors.
There has been a notable uptick in trading activity, with ADA’s daily trading volume rising by 8.5% to $541 million. This increase in market activity signifies growing trader interest, though the momentum is not necessarily signaling a bullish reversal.
Derivatives Data Points to Increased Leverage
In ADA’s derivatives markets, open interest has climbed by 2% to $818 million, while trading volume in the derivatives segment surged by over 13% to $1.14 billion. The growth in leveraged positions suggests that traders are positioning themselves for potential price swings and volatility, further fueling short-term market uncertainty.
Technical Analysis Favors Further Downside
From a technical standpoint, the indicators point toward persistent downward pressure. ADA is trading below its key moving averages—including the 10, 20, 50, and 200-day lines—reinforcing the dominance of a bearish trend. The moving average convergence divergence (MACD) remains negative, and the relative strength index (RSI) sits at 38, indicating bearish momentum but not yet signaling an oversold market.
If ADA fails to hold the $0.67 support level, further declines toward the $0.65 region are possible. Conversely, a short-term price recovery could occur if the cryptocurrency manages to reclaim the $0.72 resistance area.
Cardano’s Ecosystem Sees Ongoing Innovation
Amid price headwinds, Cardano’s development activity remains steady, further strengthening its position within the blockchain industry. In late April, the Cardano Foundation introduced its 2025 Ecosystem Guide, emphasizing real-world blockchain use cases such as real estate and supply chain management.
On April 20, Input Output Global (IOG) partnered with BitcoinOS to bring decentralized Bitcoin rollups to Cardano, leveraging zero-knowledge proofs for enhanced interoperability. This integration is scheduled for later in the year, highlighting Cardano’s ongoing push for blockchain innovation.
The Cardano ecosystem continues to expand through new integrations as well. In May, Brave browser confirmed ADA support in its wallet beta, boosting accessibility for users. Most recently, on June 1, Wanchain facilitated cross-chain transfers of stablecoins like USDC and Tether, while Cardano-native stablecoins USDA and USDM are anticipated to launch in 2025, signalling increasing utility for DeFi applications on Cardano.
Cardano’s steady technical progress and vibrant community underline its long-term potential in the evolving world of blockchain technology, even as short-term market momentum remains muted.
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