Cardano surpassed 1.3 million staking addresses this week, confirming its position as one of the most actively staked blockchains. Staking activity is expected to increase further with the upcoming launch of $NIGHT token rewards, which will be issued alongside regular ADA staking returns.
Meanwhile, Charles Hoskinson’s $100M ADA treasury reallocation proposal continues to draw debate. The proposal aims to mint native stablecoins (USDM, USDA, iUSD), generate treasury yield, and bolster DeFi liquidity.
This potentially transforming Cardano’s treasury into a decentralized sovereign wealth fund. Though ambitious, the plan has sparked division within the community.
On-chain volume has dropped over 45% since June 1, with ADA slipping from $0.69 to $0.63. This contraction reflects a possible consolidation phase, especially as traders wait for a macro or governance catalyst.
Derivatives data shows ADA futures open interest holding around $752M, while the long/short ratio remains elevated at 2.65 on Binance and 2.43 on OKX. This suggests that speculative traders expect a bullish outcome.
However, shrinking futures volume and stagnant spot flows signal that conviction remains weak.
Coinbase saw minor inflows (~$367K), while OKX and Kraken registered outflows exceeding $700K each.
Cardano’s fundamentals—staked address growth, treasury innovation, and DeFi integrations—continue to strengthen. But technicals remain pressured. A sustained breakout above the $0.68–$0.72 EMA cluster is needed to confirm trend reversal and attract fresh liquidity.
Until then, ADA remains trapped between speculative long bias and structural fragility. Traders are watching $0.60 closely. If it holds, accumulation continues. If it breaks, downside targets shift to $0.50 and lower.
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