Cardano (ADA) has seen a remarkable 88.8% price surge, hitting $1.33, its highest in nearly three years. This spike mirrors a broader altcoin market rally, which peaked at $1.52 trillion. ADA's futures open interest also climbed by 37%, reaching $1.2 billion, surpassing previous highs. Despite this, the futures market remains balanced, with a healthy 17% premium, suggesting no immediate risk of liquidations. Cardano's total value locked (TVL) remains modest at $685 million, indicating room for growth in the decentralized applications space.