TLDR
- Trump’s Strategic Reserve announcement triggered ADA’s rise from $0.57 to $1.19
- Five major cryptocurrencies selected for the reserve program
- Whale wallets added over 130M ADA in recent days
- Network activity shows 157% growth in active wallets
- TVL increased to $499M from $323M within 24 hours
Cardano’s native token ADA has recorded a remarkable price movement, pushing past $1.19 in response to President Donald Trump’s announcement of a new Strategic Crypto Reserve. The token’s value jumped 70% from its previous position at $0.57, marking one of its strongest rallies in recent months.
The catalyst for this market movement came through President Trump’s Truth Social platform, where he revealed plans for a government-backed cryptocurrency reserve. The announcement specified the inclusion of several major digital assets, with Cardano named among the selected cryptocurrencies.
Trading data reveals that ADA’s price trajectory began immediately following the news, with buyers pushing the token through multiple resistance levels. The upward momentum continued as market participants processed the implications of the announcement.
Market intelligence reveals a notable increase in large-scale buying activity. Data analytics firm Santiment reports that wallet addresses holding between 10 and 100 million ADA tokens have expanded their positions considerably, adding more than 130 million tokens to their holdings over three days.
The surge in buying activity coincides with broader network growth metrics. According to DappRadar’s data, the number of unique active wallets on the Cardano network rose by 157%, reaching 3,720 within a 24-hour window. Transaction volumes showed even stronger growth, with daily transactions increasing by 200% to reach 17,120.
Network value metrics demonstrate growing user engagement, with Total Value Locked (TVL) increasing from $323 million to $499 million between March 2 and March 3. This 54% rise indicates expanding usage of Cardano’s decentralized applications and services.
Markey Analysis
Price analysis shows ADA maintaining positions above several key technical indicators, including major moving averages. The token has established support above the psychologically important $1.00 level, currently trading around $1.05.
Market analysts have noted the formation of new trading patterns following the initial price surge. Crypto analyst Arvid Crypto highlighted ADA’s movement through key liquidity zones, emphasizing the importance of holding above $1.00 for continued momentum.
Trading specialist Kwantxbt observed consolidation activity near $1.06-1.07, noting that decreasing volume suggests an accumulation phase. The analyst identified key price points at $1.19 resistance and $1.05 support levels.
The price action has created new support structures, with previous resistance levels now serving as price floors. Market data shows sustained trading activity above the $1.00 threshold.
Traders are watching the $1.19 level as a potential breakout point for further upward movement. Current market behavior indicates a consolidation period following the sharp rise.
The federal initiative represents a new approach to cryptocurrency policy, with the administration taking steps to formally recognize digital assets as strategic reserves. This marks a contrast from earlier regulatory stances.
Recent market patterns indicate stabilizing prices following the initial uptick, suggesting a period of price discovery around current levels. Trading metrics point to ongoing interest from various market participants.
Technical indicators maintain bullish signals, with both momentum and relative strength measures supporting current price levels. Trading volumes reflect healthy market participation throughout the rally.
Latest market data shows ADA holding steady above critical support zones, with active trading continuing near the $1.05 mark. Chart analysts note emerging continuation patterns at present levels.
Market watchers highlight the possibility of further price discovery as traders digest the implications of the government initiative. Volume profiles suggest sustained interest from both retail and institutional participants.
Stay Ahead of the Market with Benzinga Pro!
Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders:
- Breaking market-moving stories before they hit mainstream media
- Live audio squawk for hands-free market updates
- Advanced stock scanner to spot promising trades
- Expert trade ideas and on-demand support
