ADA Surges 2% as Grayscale ETF Approval Boosts Institutional Exposure and Trading Volumes

Cardano (ADAUSDT) has risen by 2.06% over the past 24 hours, currently trading at $0.6001 on Binance, with a 24-hour open of $0.5880. The price increase is primarily attributed to the SEC’s approval of Grayscale’s Digital Large Cap Fund as a spot ETF, which now includes Cardano and provides it with increased institutional exposure and passive market inflows. Additional contributing factors include a broader bullish trend in the cryptocurrency market, a surge in trading activity linked to short position liquidations, and renewed investor optimism following strong on-chain development activity and rising user engagement. ADA’s market capitalization is around $21.2 billion, with a circulating supply of approximately 35.38 billion and 24-hour trading volume ranging from $726 million to $1.15 billion, reflecting heightened interest and participation in the asset.