Cardano Hits 1M Transactions but is ADA’s Price Finally About to Break $1?

Cardano (ADA) slipped from 9th to 10th in terms of circulating market cap by the end of Q3, underperforming its Layer 1 peers. However, the blockchain has maintained stable usage, as engagement from users and developers alike continued to ￰0￱ a significant milestone, the Cardano network has processed over 1 million transactions in the past 30 days alone. $0.90 Break Could Trigger New Rally The steady on-chain activity comes as ADA gained almost 10% in the past week alone, which briefly pushed the crypto asset’s price to $0.875. Amid this uptick, crypto analyst Ali Martinez noted that $0.90 is a critical point to watch for ￰1￱ to Martinez, a break above this threshold could attract increased buying interest and set the stage for further upside, potentially targeting $1.10 in the near ￰2￱ analyst AV Sebastian echoed similar bullish sentiments for Cardano after identifying a potential W-shaped pattern forming on ADA’s chart since October ￰3￱ technical setup is expected to push the price above the critical $0.90 level, a threshold already noted by other ￰4￱ added that the next key resistance to watch is around $0.94, and if ADA manages to break through this level, it could open the door for a rally past $1.

AV Sebastian had previously observed that ADA sits just 17% below $1 and 252% from $3, and framed these levels as realistic targets in a parabolic bull market ￰5￱ suggested that, when momentum aligns, such milestones could be reached within ￰6￱ Capital Influx Beyond technical momentum, institutional investors are increasingly exploring ways to gain exposure to ADA as several spot ETFs are currently under ￰7￱ October 3, Rex & Osprey, a registered investment adviser and ETF issuer, filed Form N-1A registration statements with the US Securities and Exchange Commission (SEC) for 21 digital asset ETFs, including one focused on ADA with staking ￰8￱ approved, these products would allow institutional and retail investors to gain exposure to ADA through regulated financial instruments, and potentially boost liquidity and visibility for ADA alongside other major digital ￰9￱ has also made its way into corporate treasury ￰10￱ last month, Reliance Global Group, an Insurance Tech Company, announced its first acquisition of ADA for its Digital Asset Treasury (DAT).