Cardano Sees Significant Price Surge Amid Growing Demand

Cardano has seen a notable uptick in price over the past day, reaching a 10% increase in value. This surge is largely attributed to growing interest from both institutional and retail investors. Whale accumulation also plays a significant role in the rally.

The data on Cardano's on-chain activity indicates a positive trend for the cryptocurrency. Open Interest has steadily risen since early March, suggesting that new money is entering the market and driving up buying pressure. Additionally, funding rates have turned positive, with longs paying shorts to hold positions.