ADA Surges 14% Weekly Amid ETF Speculation, Nasdaq ETP Launch, and On-Chain Activity Spike

Cardano (ADA) is currently trading at $0.7424, with a 24-hour price decrease of 3.28% and a 7-day gain of 14.22%, supported by a circulating supply of approximately 35.68 billion ADA and a market capitalization trending above $17.4 billion. The recent price decline over the last 24 hours is primarily attributed to profit-taking after a strong weekly rally and cautious sentiment ahead of the U.S. SEC's pending decision on Grayscale's spot ADA ETF application, which has heightened market volatility and speculative trading; additional drivers include increased institutional accumulation, notable ecosystem developments such as the launch of a staked Cardano ETP on Nasdaq Helsinki, and a substantial rise in on-chain transaction activity, all contributing to increased attention and trading volume for ADA.