Binance’s Growing Influence as Cardano (ADA) Surges: Institutional Interest Sparks Bullish Momentum

Cardano's ADA has demonstrated significant bullish momentum, breaking through key resistance levels to surge 60% over the past month, currently trading above $0.85. This rally is supported by record-high futures open interest of $1.66 billion, indicating strong institutional participation. Technical analysis suggests a potential rise to $1.03 if the current trend continues. Network activity further reinforces the positive outlook, with weekly trading volume increasing by 27% to $10.3 billion. Binance's staking services have also played a role in this growth, highlighting the exchange's expanding influence in the cryptocurrency market. As of July 23, 2025, Cardano's performance and institutional interest position it as a standout asset in the evolving digital finance landscape.

Cardano Price Shows Bullish Pattern Amid Rising Institutional Interest

Cardano's ADA has broken through key resistance levels, surging 60% over the past month to trade above $0.85. The rally comes as futures open interest hits a record $1.66 billion, signaling strong institutional participation. Technical charts suggest a path toward $1.03 if current momentum holds.

Network activity reinforces the bullish case, with weekly trading volume jumping 27% to $10.3 billion. Binance's staking derivatives are seeing renewed inflows as yields top 5%, indicating growing confidence in ADA's fundamentals.

While Cardano builds steady momentum, newcomer Remittix (RTX) is capturing attention with explosive presale growth. The PayFi project's rapid ascent highlights the competitive pressures facing established layer-1 protocols.

BNB Retreats After Failed Breakout as Institutional Activity Intensifies

BNB's price dipped 1.5% to $765 amid volatile trading, retreating from a weekly high NEAR $780. The token carved out a $34.87 range during intense institutional selling, with liquidation spikes observed near the $760 psychological level. Hourly trading volume surged to 12,000 tokens during the sell-off.

Solana's SOL overtook BNB in market capitalization after gaining 3.5%, now valued at $109.3 billion versus BNB's $106.6 billion. Traders noted rejection candles at the $770 resistance level, signaling large position unwinding, though bulls successfully defended support at $745.75.

Binance announced a 30-minute maintenance pause for BNB Smart Chain withdrawals on July 23. Meanwhile, Nano Labs disclosed accumulating 120,000 BNB tokens worth $90 million, underscoring growing corporate interest despite recent price weakness.

BONK Holds Key Support Amid Market Volatility

BONK exhibited notable resilience despite a 4% decline, defending its $0.000033 support level with heavy trading volume signaling strong buyer interest. The Solana-based meme token fluctuated within an 8% range, peaking at $0.0000358 before settling at $0.00003494.

Institutional confidence grew as Galaxy Digital transferred $11.4 million worth of BONK to Binance after accumulating a $30 million position. Binance's removal of its 'Seed Tag' risk label further underscored this sentiment. Meanwhile, the BonkFun platform solidified its dominance in the memecoin launchpad space, generating $19.3 million in fees for the second consecutive week.

Technical indicators reveal robust activity, with volume spikes exceeding 100 billion tokens during key support tests. The token's ability to maintain critical levels suggests underlying strength as it attracts both retail and institutional participants.

Nano Labs Accelerates Web3 Push with Massive 120K BNB Acquisition

Nano Labs has significantly bolstered its position in the blockchain space by acquiring 120,000 BNB tokens, now valued at approximately $90 million. This strategic MOVE underscores the company's pivot from chip development to Web3 infrastructure, with BNB serving as the cornerstone of its digital reserves.

The acquisition, executed through over-the-counter purchases at an average cost of $707 per token, signals Nano Labs' commitment to the BNB ecosystem. Recent transactions totaling 45,684.9862 BNB were secured at around $764 per token, reflecting both market confidence and the company's long-term vision for decentralized technologies.

While maintaining its hardware operations, Nano Labs is clearly positioning itself as a major player in the blockchain economy. The $90 million reserve establishes a formidable foundation for its Web3 ambitions, potentially influencing broader institutional adoption of digital assets.