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Cardano Price Forecast: Trading volume increases by 10,654% overnight. Is there a violent movement coming for ADA?

Cardano saw a massive 10,654% increase in trading volume on derivatives platform Bitmex overnight, drawing attention to the continuation of Cardano’s price predictions.

Speculative demand for the altcoin rose sharply, with more than $40.04 million in ADA derivatives traded at the start of the weekend, according to Coinglass data.

The move follows a major milestone in traditional finance for Cardano, with the ADA token set to debut on leading derivatives exchange CME Group, pending regulatory approval.

This not only represents increased exposure, but also widespread acceptance, as CME Group is the first traditional derivatives exchange outside of native cryptocurrency platforms to introduce ADA-linked contracts.

The increase in futures trading volume is evident as leverage is readjusted and capital is selectively directed into the market. Risk appetite appears to be centered around ADA, which reinforces the positive outlook for Cardano price.

Cardano Price Forecast: Interest in traditional finance could lead to a rise in its price

Institutionally open positions in traditional financial markets can help strengthen bullish momentum and highlight a one-year downtrend channel – a setup that traders can bet on.

ADA/USD 1-day chart, bearish channel setup. Source: TradingView.

With the latest faltering bullish push without sustained support, its lower bounds once again served as a launching pad.

Momentum indicators remain in good shape. Although the RSI has fallen below the breakeven line of 50, it has yet to break the uptrend it has been following since November.

A bearish MACD crossover below the signal line could be short-lived, rather than a complete reversal of bullish momentum.

The $0.70 historical demand zone is a key level to watch in anticipation of a confirmed uptrend. With this support, attention turns to a trend indicating a potential 260% upside targeting a 2024 high at around $1.25.

With ADA derivatives likely to see widespread adoption, strong capital inflows could fuel the push toward the $2 target for gains of 725%.

Bitcoin Hyper: This imminent update could bring attention to Bitcoin

As the capital cycle heads towards certain altcoins, Bitcoin should not be sidelined just yet as its ecosystem finally addresses its biggest limitation: scalability.

Bitcoin Hyper ($HYPER) bridges Bitcoin security with Solana technology, providing a Layer 2 network that enables faster and more efficient use cases that Bitcoin would not be able to support on its own.

This opens the door for Bitcoin to play a larger role in narratives like decentralized finance and real-world assets – where speed and efficiency are most important.

The project has already raised over $30 million in pre-sales, and after launch, even a small fraction of Bitcoin’s massive trading volume could significantly increase its value.

Bitcoin Hyper solves the problem of slow transactions, high fees, and limited programmability that have limited Bitcoin’s potential for a long time – at a time when the market is turning bullish.

Visit the official Bitcoin Hyper website here

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