Cardano's ADA Surges 0.94% Amid ETF Approval Hopes, Remittix Gains Traction

Cardano's latest price was $0.7494, up 0.943% in the last 24 hours. The cryptocurrency is on the verge of a bullish resurgence as ETF approval nears. This development could shake up the market, leaving room for a newcomer called Remittix in the cross-border payment sector. Remittix’s PayFi protocol is already gaining traction among those who have raised over $15 million with predictions of a 3,000% uptick upon launch. Some of the bullish developments propelling ADA’s uptick include a recent report by Polymarket revealing a 55% chance of Cardano’s ETF approval. This marks a 45% jump in odds, sparking increased confidence in ADA, leading to a rise in bullish sentiment.

As discussions around Cardano’s ADA redemption voucher are taking a new turn. Prominent figures from the Cardano startup ecosystem are stepping in to clarify misinformation. Michael Yagi, CEO of Ikigai Technologies, and Daniel Friedman, Founder & CEO of zenGate Global, have both addressed this issue. They defended the integrity of the redemption process. Their insights not only correct misconceptions but also highlight the challenges Cardano entrepreneurs face due to persistent FUD (Fear, Uncertainty, Doubt).

Michael Yagi emphasized that while he wasn’t directly involved in the voucher process, those truly investigating the matter should have easily found the facts. According to Yagi, Input Output Global (IOG), the organization behind Cardano, went above and beyond to ensure all participants could access and complete their ADA claim process. He clarified that the ADA redemption voucher worked similarly to a digital gift card. Yagi said, “From what I’ve been told, it was one-time use, very much like a Robux gift card.” These vouchers were never meant to provide access to a private key or wallet. They were simply codes used to redeem ADA tokens through the official wallet, Daedalus. This process was explained clearly at the time. Hence, any assumptions show a major oversight due to false claims.

Yagi also voiced frustration over how misinformation damages not just reputations but the broader Cardano startup ecosystem. As a Cardano entrepreneur, he shared that building a company on this blockchain comes with additional responsibilities. It’s like defending against FUD that is often beyond the founder’s control. He added, “It’s damaging to founders like us. I wish people would realize FUD affects more than just the personal beef people may have. It impacts trust in our platforms, discourages new users, and distracts us from focusing on innovation.” The ripple effect of this negativity slows down progress, especially for early-stage startups trying to gain traction in a competitive market.

Daniel Friedman, supporting Yagi’s perspective, directly called out those circulating an image suggesting that resale participants received private keys. He explained that the Japanese text in the image does not reference private keys at all. Instead, it mentions the issuance of an “ADA redemption code,”. Which is exactly what was needed to complete the ADA claim process. Friedman said, “My suggestion is to learn some Japanese before you embarrass yourself.” He stated that this continued misinterpretation shows confirmation bias and willful ignorance, not objective criticism. According to Friedman, people spreading these claims have repeatedly shifted their narratives. Therefore, showing a lack of genuine intent to understand or report the facts.

Yagi and Friedman’s responses call for a more responsible conversation around Cardano-related developments. They believe focus should return to building and improving the ecosystem instead of engaging in baseless accusations. Yagi concluded, “We’re not just building products, we’re also stuck explaining things outside our expertise just to protect the ecosystem’s credibility. That takes time away from innovation.” His message serves as a reminder that Cardano entrepreneurs deserve support and fair treatment. In a space where FUD affects progress, clarity and truth are essential. With ongoing legal processes expected to shed more light soon. The community must avoid jumping to conclusions and instead focus on verifiable facts.

Cardano continues to expand. According to the most recent information published by Input Output, Cardano continues to show steady growth across ecosystem metrics. The number of projects underway has risen to 1,999, with delegated wallets remaining steady at 1.33 million. On-chain activity also increased, with 109.37 million transactions completed and native assets reaching 10.79 million under 214,832 token policies. Smart contract deployment is strong, with 133,417 Plutus scripts and 6,640 Aiken scripts, representing a 0.49% increase in script activity over the previous week. Governance engagement has increased as well, with 1,305 DReps, 954 of which are active, up 1% from the previous figure. The 224 GitHub commits represent developer enthusiasm and indicate ongoing contributions across Cardano's codebase.

Cardano [ADA] is back in the spotlight, not for explosive price action, but for what’s happening under the hood. On-chain data and volume profiles hint at stealth accumulation by smart money during this extended consolidation phase. Whales are nibbling, and exchange outflows are quietly ticking up. The price action? Still chopping in a tight range, setting up what looks like a textbook volatility squeeze. In other words, ADA has all the hallmarks of a market gearing up for expansion. However, ADA’s a repeat offender when it comes to fake breakouts. So, is this another fakeout waiting to happen, or is ADA “genuinely” loading for launch this time? Cardano’s no stranger to liquidity-driven fakeouts. As flagged by AMBCrypto on multiple occasions, whale bids during local lows often trigger a short squeeze, sweeping out leveraged bears and giving ADA a quick boost. But without follow-through in volume or structural demand, the rallies stall – textbook bull traps. So, are Cardano bulls gearing up for yet another fakeout? It certainly looks that way. Ali Martinez flagged that whales have gobbled up 80 million+ ADA over the past 48 hours, perfectly timed with the dip to $0.78. This whale accumulation near a key value zone hints we might be seeing real structural reaccumulation instead of another pump-and-dump. Typically, such accumulation primes the market for a FOMO-driven bid surge. Yet, the Spot Taker CVD (90-day) remains stubbornly neutral. In other words, spot buyers aren’t aggressively lifting offers, sellers aren’t dumping hard. Consequently, the cycle’s rinse-and-repeat: A modest lift sparks longs to chase, but volume fails to punch through, triggering long liquidity sweeps that keep Cardano range-bound. And the liquidation tape backs it up. In just the last 24 hours, $2.37 million in long positions got wiped out, accounting for 82% of total liquidations — a clean sweep of late bid chasers who mistook a lackluster bounce for breakout energy. The key tell? Watch Cardano’s Spot Taker CVD ratio. A bullish tilt would signal actual demand absorption and possibly the start of a sustained leg. Until then, this looks like just another engineered squeeze – perhaps a liquidity trap in disguise.