title: Cardano (ADA) Jumps 10.9% to $0.7691, Reaching Its Highest Daily Close Since Early March 2025

On May 8, Cardano (ADA) jumped 10.9% in 24 hours, closing at $0.7691. It was the highest daily close since early March 2025. The rally also pushed ADA above its 50-day Exponential Moving Average (EMA) of $0.6935, aligning with broader market gains.

Cardano price shot up 10.9% on Monday, closing at $0.7691. This was the highest daily close for the token since early March.

Cardano price shot up 10.9% on Monday, closing at $0.7691. This was the highest daily close for the token since early March.

The move also saw ADA break above its 50-day EMA at $0.6935, joining other tokens in the broader crypto market that also moved above their respective 50-day EMAs.

Chart: TradingView

As seen above, trading volume also soared during the sharp move, which saw ADA break out of its previous range and reach a multi-week high.

Top 3 Price Movers (24hr)

The gains saw ADA among the best performers of the day. The token’s short-term recovery also saw traders looking at some on-chain and futures metrics for ADA.

74% Of ADA Supply Now Holding At Profit

According to on-chain data from Santiment, 74.14% of Cardano’s circulating supply, which totals 26.91 billion ADA, is currently being held at a profit.

This metric calculates the percentage of tokens whose current market value is higher than the price at which they were last sold.

A spike in profit supply usually shows that a good portion of investors are in a positive position and may also suggest an increase in accumulation. When more holders are in profit, they may choose to hold for longer or reduce selling pressure.

Historically, we’ve seen that a rising profit supply often corresponds with positive market sentiment. However, it may also increase the risk of profit-taking during future price increases.

As seen in the chart above from Santiment, this is the highest level of profit supply that ADA has seen in several weeks, which suggests that most recent buyers are now above their breakeven levels.

ADA Funding Rate Remains Positive In Derivatives Market

Data from CoinGlass shows that ADA’s funding rate currently stands at 0.0099%.

Funding rates on perpetual futures contracts are payments made between traders holding opposite positions to keep the futures price aligned with the underlying spot market.

A positive funding rate means that traders holding long positions are paying those with short positions. This dynamic suggests that more traders expect prices to rise than fall, and it also indicates a greater proportion of long contracts in the market.

When funding rates stay in positive territory for a sustained period, it usually reflects an imbalance favoring buyers, which often occurs during periods of strong bullish positioning.

The data shows that traders in the derivatives market are continuing to build long exposure to ADA. While the funding rate is still relatively low at 0.0099%, its consistency over the past few days may signal confidence among futures participants.