Cardano's native token ADA has jumped more than 15% this week, driven by two converging catalysts: a major expansion of its payment infrastructure and persistent accumulation by large holders. Community contributor MB announced that the newly launched ADA Pay plugin now allows over 7 million businesses worldwide to accept Cardano for payments, significantly reducing the need for custom software integration. If adoption continues, consumers may soon use ADA for everyday purchases across a vast merchant network.
Whales Scoop Up 150 Million ADA During Market Dip
According to on-chain analytics firm Santiment, wallets holding between 100,000 and 100 million ADA have collectively added 150 million ADA since June 25. This accumulation occurred amid a broader market pullback, suggesting large investors saw current prices as an attractive entry point. Such concentrated buying tends to shrink available supply, helping ADA stabilize or rebound more sharply from recent lows.
Futures Open Interest Climbs to $403 Million
Cardano's market cap now stands at approximately $5.78 billion, with daily trading volume nearing $500 million. In derivatives, open interest in ADA futures rose from $335 million in mid-June to $403 million by July 3. The simultaneous rise in price and open interest typically signals fresh capital entering the market, not just position shifts. By the end of the week, the funding rate for ADA perpetuals turned positive at 0.0085%, meaning longs pay shorts—a sign of growing bullish sentiment.
Technicals: $0.173 as Key Hurdle
Analyst platform Globe Of Crypto notes that ADA bounced from support within a falling wedge pattern. If a breakout occurs, the platform forecasts a strong mid-term recovery toward the $0.35 level. The relative strength index (RSI) hovers near 50, while the MACD sits just above zero, indicating consolidation rather than acceleration. On the upside, $0.173 stands as critical resistance, with further selling expected in the $0.185–$0.245 zone. If the price retraces, structural support lies near $0.138, providing a safety net for bulls.
eUTXO Architecture Boosts Predictability
Cardano core developer Dave highlighted that the network's Extended Unspent Transaction Output (eUTXO) model lets users estimate transaction fees and outcomes before execution, reducing failure risks. This predictability is especially valuable for financial applications where cost management is critical.