Cardano (ADA) has experienced a surge in price, reaching an 18-month high of $0.80, even as the broader cryptocurrency market declined. This rally is attributed to increased whale activity, with large transactions of ADA reaching a five-month high. Additionally, the total open interest for Cardano surpassed $400 million for the first time since August, indicating heightened interest from derivatives traders. However, long-term holders of ADA with positive returns have decreased, suggesting a potential cooling off of the profit-taking trend. The increasing trading volume, whale transactions, and open interest could also contribute to higher market volatility for Cardano.



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