ADA Surges 6.25% as Cardano Sees Record TVL Growth, Bullish Technicals, and Governance Upgrades

Cardano (ADAUSDT) has experienced a 6.25% price increase over the past 24 hours, with the current price at $0.9039 according to Binance data. This upward movement is attributed to several factors, including renewed bullish sentiment following technical signals such as the breaking of a multi-month falling wedge and a "golden cross" pattern, as well as increased on-chain activity and a 14% rise in open interest. Additional drivers include heightened network engagement, evidenced by a 38% increase in active addresses and a 140% year-over-year growth in total value locked (TVL), alongside speculation about a potential Cardano ETF and positive developments in U.S. cryptocurrency legislation. The announcement of an independent audit of ADA holdings by Input Output Global and upcoming governance upgrades in the Voltaire era have also contributed to market optimism. Cardano's market capitalization stands at approximately $31.92 billion, with a 24-hour trading volume between $1.32 billion and $2.64 billion, reflecting strong trading activity and sustained investor interest.