Cardano (ADA) has surged over 19% this week, propelled by its transition to the Dijkstra development era, making it the first blockchain to fund core development directly from its community treasury. The altcoin broke through the key $0.20 resistance level, a barrier that had capped all recovery attempts this year. Concurrently, the network’s Nakamoto coefficient reached a new peak of 16, positioning Cardano as one of the most decentralized chains. Whale accumulation has been significant, with data showing over 240 million ADA tokens purchased by large holders. Daily trading volume jumped 78% to approximately $747 million, while total value locked (TVL) rose 3% to $88 million.
Cardano is among the top global blockchains, having recently hit a new peak in the Nakamoto coefficient of 16. The altcoin has surged by more than 19% this week with daily gains averaging over 6%.
These gains resulted from Cardano transitioning to the Dijkstra development era. This newly approved roadmap made Cardano the first chain to fund core development directly from its treasury.
According to data, Cardano came a distant second among the largest weekly gainers. The ecosystem is expanding, connecting with Injective (INJ) via The Inter-Blockchain Communication Protocol (IBC), which is on testnet, making both INJ and ADA usable across the two ecosystems.
The daily trading volume jumped by more than 78%, recording about $747 million and a 7-day sum of $3.50 billion. Total Value Locked (TVL) rose by around 3%, reaching $88 million.
The chain’s weekly DEX volume also increased by 17%, reaching $13 million. Whale accumulation data shows large holders have accumulated over 240 million ADA in the past few days.
Cardano’s price broke above the $0.20 resistance level, but lagged at this zone. The altcoin price has ranged between $0.14 and $0.20 since July, following a 41% sharp drop from $0.24 to $0.14.
The Bull/Bear Power indicator turned green, and the CVD showed traders on Binance’s spot market bought more than 40 million ADA tokens. With the token clearing the $0.20 resistance, it exposed $0.24 and $0.30 as the next target areas.
