"ADA Surges 70% After Trump's Crypto Reserve Announcement"
1min read Cardano's ADA token has experienced a remarkable surge in price, climbing from $0.57 to reach $1.19, marking a 70% increase following President Donald Trump's announcement of a Strategic Crypto Reserve initiative. The cryptocurrency's price movement comes in direct response to the administration's new policy direction for digital assets.
On March 2, President Trump shared via Truth Social that he had instructed the President's Working Group on Digital Assets to incorporate several cryptocurrencies, including Cardano, into the planned Strategic Crypto Reserve. The directive also included other major cryptocurrencies such as XRP, Solana, Bitcoin, and Ethereum.
The market response was swift and decisive, with ADA's price showing immediate upward momentum. Trading data indicates that the token achieved a 12-week high, breaking through several key resistance levels in the process.
Market activity shows increased participation from large-scale investors, commonly known as whales. Data from market intelligence firm Santiment reveals that investors holding between 10 million and 100 million ADA tokens have been actively accumulating more holdings. Over a three-day period, these large investors added more than 130 million ADA tokens to their portfolios.
The network's operational metrics have also shown substantial improvement. DappRadar reports a 157% increase in unique active wallets, reaching 3,720 over a 24-hour period. Daily transactions have seen even more dramatic growth, with a 200% increase to 17,120 transactions in the same timeframe.
Total Value Locked (TVL) on the Cardano network has experienced notable growth, rising from $323 million to $499 million between March 2 and March 3, representing a 54% increase. This metric serves as an important indicator of the network's overall usage and adoption.
Technical analysis shows ADA's price maintaining position above key moving averages and the psychological $1.00 mark. Current trading data places ADA at $1.05, with market watchers noting the formation of a consolidation pattern at these levels.
Crypto analyst Arvid Crypto observed the high-volatility breakout, noting ADA's movement through important liquidity zones. The analyst emphasized the importance of maintaining the $1.00 support 