The crypto world is witnessing a series of gradual changes. These changes have now been spurred primarily due to a sharp change in the pace of the market. The domain is now favoring cryptocurrency full-time as the market waits for new revolutionary changes in the form of new crypto acts and reforms. With the budding ETF race brewing, Cardano is rising on top of the radar, hinting at a bubbling price surge that the token is just a push away from claiming. Here’s what the market is currently brewing for Cardano (ADA).

Also Read: Cardano (ADA) Next Big Move: Hovering at $1 or Accelerating to $2?

Cardano Open Interest Spikes to New High

Smartphone displaying Cardano trading interface with buy and sell buttons
Source: Fortune

Cardano open futures have spiked to a new high of $2.5B. This new surge marks a pivotal stage for ADA, as such high levels have now been documented after four years. This momentum shows ADA’s buildable momentum in the crypto domain, as ADA ETF hype continues to fuel such massive spikes.

ADA FUTURES STATS
Source: Coinglass

In addition to this, Cardano’s chart is showing a rise in traction, hinting at a possible 200% rally. Per a recent analysis by Bitcoin Consensus, Cardano is aiming for a 260% to 360% pricing overhaul, targeting $1.86 in the process.

β€œ$ADA CYCLE REPEATING? πŸš€πŸ”₯πŸ“ˆ Previous rallies after bottoming delivered +260% and +360% gains πŸ”₯. Eyeing $1.86 for a potential +260% repeat. Fractal playing out again? πŸ‘€ #Cardano #Crypto”

What Elements Are Favoring The Asset?

At present, Cardano is known for its complete decentralization element with minimal downtime. This development has earned ADA a label of being one of the stable blockchains present at the moment. The blockchain is also an active competitor of RWA asset deployment, which is helping it rise high on the radar.

Apart from these, ADA ETFs are also helping Cardano gain momentum, as approvals of ADA ETFs could unlock new money entering into the domain, speculation of which is helping ADA embrace the new price changes.

Also Read: Cardano Price Chart Shows Bullish Pattern, ADA Bull Run to $1.5?