Cardano's ADA surged over 4% in 24 hours, reaching $0.419, with trading volume also soaring 68% to $967.4 million. The rally was driven by Germany's central bank (DZ Bank) receiving MiCAR approval, which simplifies access for European institutional investors, as well as Grayscale increasing its ADA allocation in its smart contract fund. Analysts noted that open interest has risen to $841 million, indicating traders are preparing for a breakout above the resistance level of $0.434.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Cardano's ADA surged over 4% in 24 hours, reaching $0.419, with trading volume also soaring 68% to $967.4 million. The rally was driven by Germany's central bank (DZ Bank) receiving MiCAR approval, which simplifies access for European institutional investors, as well as Grayscale increasing its ADA allocation in its smart contract fund. Analysts noted that open interest has risen to $841 million, indicating traders are preparing for a breakout above the resistance level of $0.434.