ADA Surges 12% as Cardano ETF Optimism, DeFi TVL, and Trading Volume Hit New Highs

Cardano (ADAUSDT) has experienced a notable price increase of 12.19% over the past 24 hours, with the current price at 0.8587 USDT on Binance. This surge is primarily attributed to strong bullish momentum driven by technical breakouts above key resistance levels, increased institutional interest, and optimism surrounding a potential Cardano ETF approval, which has reportedly reached an 84% likelihood. Additional factors supporting the price rise include a significant increase in Cardano’s Total Value Locked (TVL) in DeFi protocols, now at $333 million, and robust derivatives market activity, with open interest nearing all-time highs.

In the last 24 hours, ADA’s trading volume reached approximately $2.7 billion, and its market capitalization stands at around $29.62 billion. The price has fluctuated between 0.7654 and 0.8587 USDT, reflecting heightened market participation and renewed investor interest in the Cardano ecosystem.