Cardano Price Prediction Amid Crucial 11M ADA Treasury Withdrawal Vote

Cardano (ADA) price is up by 7.7% today, September 18, to trade at $0.213 at the time of writing. These gains come ahead of a governance vote on the Cardano network looking to withdraw $2.5 million worth of Cardano from Treasury.

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Cardano Treasury Proposal Opens Voting Until October 11

The Cardano community has until October 11 to vote for the OpenZeppelin Stack proposal. This proposal looks to withdraw 11.8 million ADA from the shared Cardano treasury.

If this proposal passes, the 11.8 million ADA will be used to get the OpenZeppelin open-source development stack for Cardano. This will bring audited building blocks to Cardano that could bring more institutions and DeFi players to the network.

However, the 11.8 million ADA will not be released to OpenZeppelin all at once. Instead, 20% of the ADA will be released after the legal contract is signed, and the other 80% will be going out in four equal batches.

Still, some users are criticizing the proposal, saying that it is the sae as the ongoing Developer Experience on Cardano. One user even questioned whether what Cardano will get out of this is worth 11.8M ADA.

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Cardano Price Outperforms Bitcoin and Ethereum as Rounded Bottom Emerges

Cardano price has jumped by nearly 8% today, outperforming Bitcoin (BTC) and Ethereum (ETH), which were up by 1.9% and 2%, respectively, at the time of writing.

The gains have pushed Cardano value today above the resistance of a rounded bottom pattern at $0.212.

The RSI reading of 65 supports a bullish long-term Cardano price prediction. This RSI reading also suggests that ADA price is still not overbought despite moving from $0.19 to $0.21 within two days.

If Cardano now holds $0,.212 as support, the price could gain by 11% and reach $0.235. The ADX line that is tipping north suggests that the uptrend is strong, and this move to $0.235 could occur.

Still, concerns about the Fed hiking rates again in 2026 could increase the selling pressure. If this occurs, Cardano price could drop to retest the support at $0.19.

ADA Futures Activity Heats Up as CME Volumes Hit 3-Week High

Data from CME shows that Cardano’s volumes have risen to 7 million ADA, with this being the highest volume numbers seen since August 26.

The CME open interest has also jumped to 178 ADA contracts, with this also being the highest CME reading in September.

The rising CME volumes and open interest suggest that speculative demand for Cardano by institutional players is rising

Cardano’s open interest on CoinGlass had also risen by 9% to $466 million at the time of writing. The weighted funding rate had also jumped to 0.0098%. This suggests that long buyers are paying more to keep their positions open.