ADA Surges 2.75% as Grayscale ETF Filing and U.S. Crypto Bills Spark Bullish Breakout

Cardano (ADAUSDT) has experienced a 2.75% price increase over the past 24 hours, with the current price at 0.8335 USDT on Binance. The recent price surge is primarily attributed to heightened optimism following Grayscale's filing for a potential spot Cardano ETF with the NYSE, as well as positive regulatory developments in the U.S., including the passage of several crypto-related bills by the House of Representatives. These factors have driven increased trading activity and bullish sentiment, resulting in a notable rise in trading volume and a technical breakout above key resistance levels.

In the latest 24-hour trading session, ADAUSDT showed significant volatility, with prices ranging from 0.80 to 0.89 USDT and trading volumes between $1.08 billion and $1.38 billion. Cardano's market capitalization stands at approximately $29 billion, supported by a circulating supply of 35.40 billion ADA tokens.