Cardano Price Soars 25%, Hits $0.21 Before Retreating to $0.20

Cardano's price rallied 25% in the past week, touching $0.21 before sellers pushed it back toward the psychological support level of $0.20.

The recent surge coincided with renewed interest in Cardano's development roadmap, including a proposed 2.5 million ADA development fund and a Cardano IBC testnet connection with Injective.

Large holders accumulated around 240 million ADA before the breakout, while futures activity accelerated with weekly trading volume rising from $150 million to nearly $650 million.

However, despite the momentum, fundamental weaknesses remain, such as Cardano's decentralized finance ecosystem holding only about $68 million in total value locked, leaving it behind larger layer-1 networks.