Cardano Surges 18% Amid Dijkstra Era Planning and Growing Open Interest

Cardano has been one of the strongest performers among large-cap altcoins over the past week, rallying by 18.26% in just seven days.

This price surge comes after the network shifted its focus from the completed van Rossem upgrade to the Dijkstra era, a major development phase for Cardano that is now being planned.

The growing Open Interest behind Cardano has also contributed to the altcoin's bullish momentum, increasing by 40% since July 29th from $369 million to $519 million.

Despite shrinking wallet activity, big whale orders have been observed in the market, and reclaiming the $0.18 level can be seen as a short-term signal of bullish dominance.