ADA Surges 6.89% After ETF Approval, Outpaces Market With $1B+ Trading Volume

ADAUSDT experienced a 6.89% price increase over the past 24 hours, rising from 0.6223 to 0.6652 USDT. This upward movement is primarily attributed to the US SEC's approval of the Grayscale Digital Large Cap Fund (GDLC), which includes Cardano (ADA), for conversion into an ETF, boosting investor confidence and driving increased trading activity. Additional factors supporting the price rise include a 13.66% increase in open interest in ADA derivatives and strong trading volume, with 24-hour volume reported between $982 million and $1.07 billion. Cardano's market capitalization stands at approximately $22.27 billion to $23.58 billion, and the asset has outperformed the broader crypto market in recent days, reflecting a robust bullish sentiment.