- Cardano (ADA) has surged by 75% following its inclusion in the U.S. Crypto Strategic Reserve, with technical indicators suggesting further gains if it holds above $1.05, potentially reaching $1.90.
- Additionally, Grayscale Investments has proposed a Cardano ETF, which, if approved, could attract institutional investors and boost long-term growth.
Cardano (ADA) has made headlines today with an impressive surge, leaving investors excited about its future prospects. The cryptocurrency has witnessed a significant price increase, mainly due to its inclusion in the U.S. Crypto Strategic Reserve. With technical indicators showing further potential gains, ADA seems poised for continued momentum in the coming weeks.
Massive Price Surge Following Key Announcement
The recent price jump in Cardano has been nothing short of remarkable. Over the last 24 hours, ADA surged by 60.6%, joining other cryptocurrencies like XRP and Solana, which also saw significant gains of 31.7% and 22.6%, respectively. This came after former President Trump confirmed that Bitcoin (BTC) and Ethereum (ETH) would also be part of the reserve, leading to price increases of 9.9% and 12.1% for these two leading assets.
ADA Hits 75% Growth in a Day
Following the announcement, Cardano’s price skyrocketed by 75%, climbing from $0.6461 to $1.13 in a single day. This rapid increase was fueled by a surge in trading volume, which rose by 1,450%, boosting ADA’s market capitalization close to $40 billion. Additionally, the entire cryptocurrency market experienced a nearly 10% increase, pushing the global market cap to $3.1 trillion, with trading volumes soaring 150% to $190 billion.
Adding to the bullish sentiment, on-chain analyst Ali Martinez revealed that whales have bought nearly 200 million ADA tokens within the past 24 hours. This large accumulation suggests strong confidence in Cardano’s future price action.
Technical Indicators Signal More Gains Ahead
ADA has recently broken past a bullish flag and pole pattern, a technical setup that has been forming since December 2024. With today’s price action, ADA successfully broke out of this pattern, indicating the potential for an additional 90% rally. Analysts believe that if ADA maintains a position above $1.05 by the end of the week, the next price target could be $1.90, marking a substantial gain from its current levels.
Another crucial technical milestone is ADA’s break above the 200 Exponential Moving Average (EMA) on the daily chart. This is a significant indicator that suggests bullish momentum and a potential continuation of the rally.
What’s Next for Cardano?
The key level to watch is $1.05. If ADA stays above this threshold, the cryptocurrency could aim for $1.90 in the near future. The inclusion in the U.S. Crypto Strategic Reserve has significantly boosted investor confidence, adding strong long-term potential to Cardano’s price movement.
Could an ADA ETF Be on the Horizon?
Another exciting development for Cardano is Grayscale Investments’ recent move to add ADA to its Smart Contract Fund, alongside other major blockchain projects like Ethereum, Solana, and Polkadot. This inclusion places Cardano among some of the most established blockchain networks.
Moreover, Grayscale Investments has filed a proposal with the U.S. Securities and Exchange Commission (SEC) to launch a spot Cardano (ADA) ETF. If approved, this would be the first standalone Cardano ETF in the U.S. market, further legitimizing the cryptocurrency and potentially attracting more institutional investors.
Final Thoughts
Cardano’s recent surge has caught the attention of investors worldwide, fueled by its inclusion in the U.S. Crypto Strategic Reserve and strong technical indicators. With the possibility of an ADA ETF on the horizon and increased whale accumulation, the future looks promising for Cardano. If ADA can hold above $1.05, we could see even greater price appreciation in the coming weeks. Investors are now watching closely as the next phase of Cardano’s growth unfolds.
