Cardano (ADA) price is making headlines this week as traders and analysts look for signs of a major breakout.
The coin is trading at $0.70, which is nearly 40% higher than its low in April. This steady climb has put Cardano’ native token ADA above a key support level, and many believe a rally in May could be coming.
Meanwhile, Cardano’s spot trading volume hit $700 million on Thursday, according to Coinglass.
This builds on a trend that started late last month, where daily trading volume on weekdays regularly crossed $700 million. On April 25, it even surged past $1 billion, a signal that buyers are active.
Volume matters because it tells us how much people are trading. When prices rise and the volume goes up too, it usually means more people are buying than selling. It’s a simple sign of strong interest.
At the same time, futures market activity is also picking up. According to data from Coinglass, Open interest reached $782…
