ADA Surges 7.65% After Grayscale ETF Approval and Cardano Ecosystem Developments Boost Market Optimism

Cardano (ADAUSDT) experienced a 7.65% price increase over the last 24 hours, rising from a 24h open of 0.5610 to a current price of 0.6039 on Binance. This upward movement is primarily attributed to the SEC’s approval of Grayscale’s Digital Large Cap Fund as a spot ETF on NYSE Arca, which includes ADA among its holdings, boosting market sentiment and attracting increased trading activity. Additional optimism stems from ongoing development within the Cardano ecosystem, such as the proposal to integrate the RLUSD stablecoin, which may further enhance liquidity and user engagement.

ADA’s market capitalization is estimated between $21 billion and $22 billion, with 24-hour trading volume exceeding $840 million, reflecting heightened investor interest. Despite a monthly decline of over 13%, recent momentum and positive news have driven a notable short-term recovery.