ADA (Cardano) up 13.93% in 24 hours

According to Gate News Bot on December 3, citing CoinMarketCap data, as of press time, ADA (Cardano) is trading at $0.44, up 13.93% in the past 24 hours, reaching a high of $0.45 and a low of $0.37. The current market capitalization is approximately $15.965 billion, an increase of $1.952 billion from yesterday, ranking 10th by market cap.

Cardano is a blockchain platform developed based on peer-reviewed research and evidence-based methods, aiming to provide changemakers, innovators, and visionaries with the tools and technologies needed to create possibilities for the masses and drive positive global change. As the first blockchain platform based on peer-reviewed research, Cardano combines pioneering technology to offer unparalleled security and sustainability for decentralized applications, systems, and societies.

Recent important news about ADA:

1️⃣ Overall Crypto Market Rebounds, ADA Posts Significant Gains In the past 24 hours, the cryptocurrency market has seen a strong rebound. As one of the major tokens, ADA recorded a gain of over 12%. This surge has partially recovered losses from previous market declines. The derivatives market saw large-scale short liquidations totaling $457 million, significantly deleveraging and providing room for the price rebound.

2️⃣ Franklin Crypto Index ETF Adds ADA Franklin Templeton Digital Assets announced that its Franklin Crypto Index ETF has added ADA and five other tokens. This move is expected to bring more institutional investor attention to ADA and increase its exposure in mainstream financial markets.

3️⃣ Cardano Plans to Invest $30 Million in Core Infrastructure Cardano plans to inject key liquidity into its DeFi infrastructure through a fund worth about $30 million. The initiative aims to introduce top stablecoins, custodians, cross-chain bridges, pricing oracles, and institutional-grade analytics tools, establishing a real economic foundation for the network by 2026. This move is expected to significantly enhance the competitiveness of the Cardano ecosystem.

From a technical perspective, ADA is currently testing multi-year trendline support, with the $0.37–$0.41 range forming the current support zone. If the price can hold this range, it may retest higher levels; otherwise, it could face further downside risk. The Cardano Midnight sidechain and its token NIGHT will launch on December 8, which could be a key short-term factor influencing ADA’s price action.

This information is not investment advice. Please be aware of market volatility risks when investing.