Cardano (ADA) Price: Trump’s Endorsement Triggers Explosive 25% Rally

TLDR

• ADA price surged nearly 25% in 24 hours, reaching around $1
• Trump’s announcement to include ADA in crypto reserve sparked the price rally
• ADA is up 46.97% over the past week while Ethereum and Solana declined
• White House Crypto Summit scheduled for March 7, 2025, with possible attendance by Cardano founder Charles Hoskinson
• Whale addresses have accumulated over 420 million ADA since Trump’s strategic reserve announcement

Cardano’s ADA has experienced dramatic price growth over the past several days, riding a wave of positive news and market sentiment.

The token has reached the $1 mark after jumping nearly 25% in a single day, bringing its market capitalization to $35.27 billion with a daily trading volume of $5.53 billion.

The price rally comes following U.S. President Donald Trump’s announcement that ADA would be included in the country’s crypto reserve. This news pushed ADA past the $1 barrier, briefly touching $1.10 on March 3 before pulling back to $0.80 the next day.

While other major cryptocurrencies are facing downward pressure, ADA has shown remarkable strength. Over the past week, ADA has gained 46.97%, in stark contrast to Ethereum’s 14% decline and Solana’s 1.7% drop during the same period.

Market watchers point to President Trump’s crypto reserve plan as the primary catalyst for ADA’s impressive performance. The inclusion of Cardano among the selected cryptocurrencies has generated much excitement within the crypto community.

Adding to the positive momentum is the upcoming White House Crypto Summit scheduled for March 7, 2025. This first-of-its-kind event will bring together key figures from the cryptocurrency industry to discuss regulations, stablecoins, and the future role of digital assets in the American economy.

Rumors suggest that Charles Hoskinson, the founder of Cardano, may attend the summit. The event is being organized by Sacks and Bo Hines from the President’s Working Group on Digital Assets, and could have major implications for the future of cryptocurrency in the United States.

Beyond these news events, market data reveals interesting patterns in ADA trading. Whale addresses holding between 100 million and 1 billion ADA tokens have been actively accumulating, adding over 420 million ADA to their holdings since Trump’s strategic reserve announcement.

This whale accumulation suggests growing confidence in Cardano’s future prospects. Large investors often make moves based on long-term outlooks rather than short-term price fluctuations.

Technical Analysis

Technical analysts note that ADA’s price action shows promising signs. The cryptocurrency briefly broke out of a descending parallel channel before pulling back. However, bullish indicators including positive divergences in the Chaikin Money Flow (CMF) and On-Balance Volume (OBV) suggest increasing strength among buyers.

These technical signals point to the potential for continued upward momentum. Some analysts believe ADA could soon reclaim and exceed the $1 level, with potential targets around $1.20 in the near term.

More ambitious price projections suggest ADA could reach new yearly highs above $1.50 if current trends continue. This would represent a major recovery from recent market volatility.

Charles Hoskinson’s potential involvement with the U.S. administration has also boosted market sentiment. His participation could give Cardano greater visibility and influence in shaping future cryptocurrency regulations.

For ADA holders, the recent price action provides welcome relief after periods of market uncertainty. The token’s ability to outperform other major cryptocurrencies during a challenging market environment has renewed interest in Cardano’s ecosystem.

Trading volume has increased substantially as more investors turn their attention to ADA. The $5.53 billion in 24-hour trading volume reflects heightened market activity and interest.

ADA briefly touched $1.10 on March 3, showing the potential for higher prices when market conditions align. Though it subsequently pulled back, the quick recovery demonstrates underlying support.