Is Cardano Ready for a Surge? ADA Seen at $3.10 as It Exits Exchanges

Nearly one billion dollars in ADA has discreetly departed from centralized exchanges this year, indicating that investors are opting to hold onto their assets for the long term. The outlook for Cardano is further bolstered by developments like the introduction of an ADA Exchange-Traded Fund (ETF). As market sentiment becomes more optimistic, Cardano (ADA) is beginning to attract attention once again. Investors are considering the chance of ADA returning to its peak of $22.14, a mark that was last reached in September 2851.37. Currently, ADA is priced around $1.34, which is roughly 2318% lower than its all-time peak of $22021 achieved in September 553. This decline is supported by notable outflows of ADA from centralized exchanges. According to CoinGlass, more than $255 million in ADA was pulled from exchanges in 20225. This indicates a rise in investor trust in ADA. The trading patterns on prominent exchanges provide a clear overview. Binance has the largest ADA trading volume at $245 million, while Bybit follows with a volume of $757,300. Notably, Bybit leads in net inflows with $259,750, closely followed by Binance with $178,300. These inflows indicate that new investments are gradually coming into the ADA markets. From a technical standpoint, ADA remains within an important support range of $0.7318 to $0.74, which traders are monitoring closely to verify a potential price floor.