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Cardano’s ADA gained more than 19% this week as stronger trading activity, whale accumulation, and network developments supported its rebound. ADA also moved above $0.20 during the rally. The blockchain also reached a Nakamoto coefficient of 16, marking a new peak for its decentralization measure. Meanwhile, Cardano entered the Dijkstra development era after July’s Van Rossem hard fork.
According to CoinMarketCap data cited in the provided information, Cardano ranked second among the largest weekly gainers. SKYAI led with a 261% gain.
Cardano’s move into the Dijkstra development era helped drive renewed market attention. The approved roadmap allows the blockchain to fund core development directly through its treasury. At the same time, developers continue work on Ouroboros Leios. The planned upgrade aims to increase Cardano’s transaction capacity and support higher network throughput.
A proposed 2.5 million ADA development fund also added to expectations around future development. Meanwhile, Cardano expanded its cross-chain reach through a testnet connection with Injective. The connection uses the Inter-Blockchain Communication Protocol, or IBC. Once available across the ecosystems, ADA and INJ could operate between the two blockchain environments.
Market activity strengthened alongside the network developments. Daily trading volume increased by more than 78%, rising from about $412.8 million to roughly $747 million. The seven-day trading total reached about $3.50 billion. Meanwhile, Cardano’s weekly decentralized exchange volume increased 17% to approximately $13 million.
Large holders also increased their exposure. Santiment data cited in the provided information showed whales accumulated more than 240 million ADA during the days surrounding the breakout. Futures activity also climbed sharply. Weekly futures trading volume reportedly increased from around $150 million to nearly $650 million as ADA moved through $0.20.
Still, derivatives indicators remained mixed. Open interest reportedly declined, while funding rates turned slightly negative, suggesting some traders continued betting against further price gains.
Read More: Cardano Price Defends $0.163 as ADA Eyes a Crucial $0.20 Break
Cardano’s decentralized finance activity also improved, although its overall size remained limited. One set of figures placed total value locked near $88 million after a roughly 3% increase. Another figure in the provided data placed Cardano’s DeFi TVL around $68 million. Both measurements leave the network behind larger layer-1 blockchain ecosystems.
Beyond network activity, expectations for future Federal Reserve rate cuts remain part of the broader market backdrop for U.S. traders. Cardano also faces an October 23 regulatory deadline connected with a proposed spot ADA exchange-traded fund. That date could keep institutional access and U.S. regulatory developments in focus.
ADA now needs to hold $0.195 to preserve its four-hour upward structure. A close above $0.21 would strengthen the path toward $0.22 and potentially $0.25. By contrast, a break below $0.195 could expose ADA to a deeper pullback toward $0.184 as traders assess whether recent buying momentum can continue.
Cardano’s 19% weekly rally followed the Dijkstra transition, stronger trading activity, whale accumulation, and broader cross-chain development. ADA now faces an important technical test near $0.21, while traders also watch DeFi activity, derivatives positioning, and the October 23 ETF deadline.
