ADA Surges 4.53% as TVL Hits $333M and ETF Optimism Fuels $14M Net Buys

Cardano (ADA) has experienced a 4.53% price increase over the past 24 hours, with the ADAUSDT pair currently trading at 0.8576 on Binance. This upward movement is primarily attributed to several factors: increased trading volumes, a surge in Cardano’s Total Value Locked (TVL) to $333 million, heightened institutional and derivatives market interest (with open interest rising by $48 million to $1.21 billion), and optimism surrounding the potential approval of a Cardano ETF, which has reportedly boosted market sentiment. Technical breakouts above key resistance levels and strong net spot market buys ($14 million in the past week) have further supported the bullish momentum.

Currently, ADA’s 24-hour trading volume is approximately $3.2 billion, with a market capitalization near $30.76 billion. The asset has shown robust performance over the past week and month, reflecting sustained investor interest and positive market dynamics.