🚨 ADA rose 20%, but one data point crashed by 98%!
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ADA has surged more than 20% recently over the past 7 days, and the trend looks quite strong—yet on-chain data shows a very clear contrast. Cardano’s DEX trading volume dropped from $56 million on August 22 to about $965,000 in just 5 days, a decrease of as much as 98%! 😳
Not only that, Cardano’s TVL has continued to decline as well. Derivatives open interest fell from $582 million to $485 million, suggesting that market participation may be weakening. This raises an important question: when prices rise, is it truly because funds are flowing back—or is it just a rebound driven by overall market sentiment? 🤔
Some analysts even believe that, without any obvious improvement in fundamentals, this kind of rally may be prone to a pullback. Currently, ADA is still within an upward channel. In the short term, the market is focused on resistance around $0.24, while $0.19 is becoming an important support zone.
Next, the most critical factor for ADA isn’t just whether it can keep rising—it’s whether network activity can return. After all, if prices rise but on-chain data keeps weakening, this divergence is something the market should take seriously. 👀
Click the profile picture to watch the live stream + join the chat group to get daily strategies 🚀
#ADA #Cardano
Group: 点击加入玖玖的粉丝群
ADA has surged more than 20% recently over the past 7 days, and the trend looks quite strong—yet on-chain data shows a very clear contrast. Cardano’s DEX trading volume dropped from $56 million on August 22 to about $965,000 in just 5 days, a decrease of as much as 98%! 😳
Not only that, Cardano’s TVL has continued to decline as well. Derivatives open interest fell from $582 million to $485 million, suggesting that market participation may be weakening. This raises an important question: when prices rise, is it truly because funds are flowing back—or is it just a rebound driven by overall market sentiment? 🤔
Some analysts even believe that, without any obvious improvement in fundamentals, this kind of rally may be prone to a pullback. Currently, ADA is still within an upward channel. In the short term, the market is focused on resistance around $0.24, while $0.19 is becoming an important support zone.
Next, the most critical factor for ADA isn’t just whether it can keep rising—it’s whether network activity can return. After all, if prices rise but on-chain data keeps weakening, this divergence is something the market should take seriously. 👀
Click the profile picture to watch the live stream + join the chat group to get daily strategies 🚀
#ADA #Cardano
