ADA Surges 6.76% to Five-Month High as Whale Buys, Grayscale ETF, and $71M Grant Fuel Rally

Cardano (ADAUSDT) experienced a 6.76% price increase over the last 24 hours, rising from 0.8741 to 0.9332, driven primarily by significant whale accumulation (200 million ADA purchased), increased futures open interest ($1.43 billion), and the registration of a Cardano Trust ETF by Grayscale, which signals growing institutional interest. Additional bullish momentum was supported by the Cardano community's approval of a $71 million grant for network upgrades and technical indicators such as a breakout from a long-term descending channel and the formation of a double bottom pattern. The market saw elevated trading activity, with 24-hour volume surging and liquidations totaling $3.35 million, mainly from short positions, as ADA reached a five-month high and fluctuated between 0.8616 and 1.0193.