ADA Surges 9.74% as Whale Accumulation and Grayscale Trust Filing Drive $2.3B Volume

Cardano (ADA) has seen a notable price increase of 9.74% in the last 24 hours, with the ADAUSDT pair currently trading at 0.9190, up from a 24-hour open of 0.8374. This surge is primarily attributed to significant whale accumulation, with 200 million ADA acquired recently, and heightened market optimism following Grayscale Investments’ filing for Cardano statutory trusts, which has fueled speculation about a potential ETF. Additional bullish momentum is supported by strong technical indicators, increased open interest in ADA futures, and substantial short position liquidations totaling $2.4 million, indicating traders are adjusting to the upward trend. Cardano’s trading volume exceeded $2.3 billion in the past day, and its market capitalization now stands above $31 billion, reflecting robust market activity and positive sentiment.