ADA Surges 3.2% Amid High Volume and Strong Technical Momentum, Market Cap Hits $28 Billion

Cardano (ADA) demonstrated notable strength over the past 24 hours, with its price rising by approximately 3.2% and trading within a range of $0.48 to $0.79, supported by high trading volumes and increased market activity. The asset’s market capitalization reached up to $28 billion, and circulating supply stood at around 35.31 billion ADA, reflecting strong liquidity and investor engagement.

The recent price increase is primarily attributed to positive technical momentum, a broader rally in both crypto and equity markets, and heightened social media activity, including a 12% rise in daily active on-chain addresses. No significant fundamental news or project announcements directly impacted ADA’s price; instead, technical factors such as rebounds from support zones and bullish indicators like MACD and RSI, along with increased risk appetite among investors, played key roles. Notable on-chain activity included a large transfer of nearly 70 million ADA between unidentified wallets, though this did not coincide with any major news events. A recent social media post regarding ADA’s inclusion in a U.S. crypto reserve was not substantiated and resulted in the removal of the post’s author from a government position. Overall, ADA’s recent performance has been driven by technical trading dynamics and positive market sentiment.