Crypto
Cardano DEX Volume Explodes 1551% Week-on-Week
Cardano's decentralized exchange (DEX) volume has seen a significant surge in recent days. According to blockchain news, Cardano DEXs processed $151.01 million in volume over the past seven days, representing a 1551% increase from the previous week.
The highest daily total on record was August 22, with 245.31 million ADA transacted. This has been accompanied by accelerating on-chain activity within the ecosystem.
Looking at the price action of ADA, it is currently testing upper Bollinger resistance at $0.22, with an RSI(14) value of 43.82 and MACD in death cross territory. This setup suggests a likely retracement toward EMA50 support at $0.21 before any sustained move higher.