ADA Token Surges 15.93% on Binance as Cardano Hits Weekly Golden Cross and Investor Demand Rises

Cardano (ADA) has experienced a notable price increase in the last 24 hours, with the ADAUSDT pair on Binance rising 15.93% from an open of 0.6303 to a current price of 0.7307. This surge is primarily attributed to a combination of factors: a broader market rally led by Bitcoin reaching new all-time highs, Cardano achieving its first-ever weekly golden cross (a bullish technical indicator), and increased accumulation by large investors holding between 1 and 10 million ADA. Additional positive sentiment stems from the Cardano Foundation’s recently released financial report and optimism around potential regulatory clarity in the US, as highlighted by Cardano’s founder.

Currently, ADA trades at 0.7307 USDT on Binance, with 24-hour trading volume and market capitalization both significantly elevated, reflecting strong investor interest and a 29.55% price increase over the past seven days.