Cardano (ADA) has recently experienced significant fluctuations. On March 3rd, after Donald Trump announced the creation of a crypto strategic reserve including ADA and other cryptocurrencies, Cardano’s price soared to over $1.10. However, this growth was short-lived as its price dropped to less than $0.80 the next day. Nevertheless, in the past 24 hours, Cardano has surged by 20% again and is currently trading around $0.96. One of the factors contributing to this price increase is the overall growth of the digital currency market, which has approached a total value of nearly $3 trillion. Another factor boosting Cardano is Tyler Winklevoss, a co-founder of Gemini exchange, mentioning the possibility of ADA being listed on their platform. However, he believes that this token is not suitable for Trump’s proposed strategic reserve. Charles Hoskinson, Cardano’s founder, also responded positively to this possibility. Gemini is one of the few exchanges that still does not support ADA, while exchanges like Binance, Coinbase, OKEx, Kraken, KuCoin, Bitget, and BitBit have listed this cryptocurrency. Another factor driving ADA’s price growth is the potential launch of its spot ETF in the US, allowing investors to invest in this asset without the need to buy directly from exchanges. Earlier this year, Grayscale, the largest digital asset management company, submitted a request for the creation of this product to the US Securities and Exchange Commission (SEC). The SEC began reviewing this request in late February, which usually takes 240 days. According to Polymarket data, the likelihood of this ETF approval by the end of the year is over 70%. You can track the prices of all tokens and cryptocurrencies live on the digital currency prices page.
