Cardano’s native token, ADA, has been experiencing a strong surge, trading at 90 cents as of Friday, marking a 10% rise in the last 24 hours. This increase brings ADA to its highest level since May 2022, reflecting a broader market rally. Over the past week, ADA has gained 22%, and its month-to-date performance shows an impressive 152% gain. These price increases have elevated Cardano’s market capitalization to $30.85 billion, securing its position as the 10th-largest cryptocurrency by market cap.
The rise in ADA’s price is further supported by institutional interest, with large investors, or “whales,” now holding over $12 billion in ADA, according to Tagus Capital. This growing participation from institutional players is also reflected in on-chain activity, which has seen a 300% increase in large transactions involving ADA in just the past two weeks, according to IntoTheBlock.
In addition to these market movements, Cardano’s founder, Charles Hoskinson, has sparked speculation about potential collaborations with the incoming Trump administration, which has generated optimism around a more favorable regulatory environment for cryptocurrencies. These factors together suggest that ADA’s current rally could have significant staying power, with a solid base of institutional support and an increasingly bullish outlook for the token.
