Cardano ADA Soars 7.76% as $71M Development Fund Ignites Bullish Momentum

Cardano's native token, ADA, experienced a significant surge of 7.76%, reaching $0.79, following a historic governance decision. The Cardano community approved a $71 million allocation from its treasury for core protocol upgrades, marking the first direct funding of development in the blockchain's history. This move has sparked Optimism among investors, with whale accumulation patterns indicating strong institutional confidence. Analysts are now eyeing a $1.00 price target for ADA, as bullish momentum builds. The rally coincides with founder Charles Hoskinson's renewed commitment to advancing the Cardano ecosystem, further fueling positive sentiment in the market.

Cardano (ADA) Surges 7.76% as Community Approves $71M Development Package

Cardano's ADA token rallied 7.76% to $0.79 following a landmark governance decision. The community voted to allocate $71 million from its treasury for Core protocol upgrades—the first direct funding of development in Cardano's history.

Whale accumulation patterns suggest institutional confidence, with analysts eyeing a $1.00 price target. The bullish momentum coincides with founder Charles Hoskinson's pledge to release an audit report on IOG's ADA holdings, adding transparency to ecosystem governance.

Technical indicators show neutral RSI at 56.78, leaving room for further upside. The MOVE demonstrates decentralized governance in action, with 96 million ADA tokens now earmarked for infrastructure improvements.

Cardano (ADA) Gains Momentum Amid Treasury Approval and ETF Speculation

Cardano's ADA token surged 5% to $0.7265 after its community overwhelmingly approved a treasury funding proposal, marking a pivotal shift toward decentralized governance. Over 73% of voters backed the plan on August 3, unlocking development resources for technical upgrades aimed at scalability and infrastructure improvements.

Trading volume spiked as analysts flagged potential breakout patterns, compounded by market speculation about a possible ADA-based ETF. The rally lifted Cardano's market capitalization to $25.65 billion, recovering from recent weakness below the $0.70 support level.

This milestone represents Cardano's first direct community-controlled treasury allocation, replacing previous indirect funding mechanisms. Developers anticipate the upgrades will expand use cases and attract new users to the blockchain ecosystem.

Midnight's NIGHT Token Poised to Reshape Cardano's Ecosystem

Charles Hoskinson, founder of Input Output Global, has positioned Midnight—a privacy-centric blockchain built on Cardano—as a transformative force for the network. During a livestream, Hoskinson revealed that Midnight's native token, NIGHT, is expected to dominate trading activity among Cardano Native Tokens (CNTs) post-integration. The announcement follows the launch of Midnight's Glacier Drop portal, which facilitates NIGHT token claims across eight blockchain ecosystems.

With a total supply capped at 24 billion, NIGHT's cross-chain distribution strategy aims to drive adoption beyond Cardano's native community. Hoskinson argues this approach could elevate NIGHT to the top of Cardano's token liquidity hierarchy while stress-testing the network's scalability during peak demand. "This isn't just about privacy—it's about creating a new liquidity standard for the ecosystem," he noted during the stream.

The deep technical integration between Midnight and cardano underscores Hoskinson's broader vision: leveraging privacy protocols to onboard institutional capital. Market observers are now watching whether NIGHT's multi-chain appeal can translate into sustained volume—a potential inflection point for Cardano's DeFi ambitions.

Cardano (ADA) Holds Strong Above $0.80 as Bulls Eye Next Resistance Level

Cardano's ADA continues its upward trajectory, trading at $0.80 with a 0.68% daily gain. Technical indicators suggest sustained bullish momentum, reinforced by a recent 11.80% weekly surge. The cryptocurrency successfully defended the $0.80 threshold, a key psychological barrier, after breaking through it yesterday with a 6.22% rally.

Market sentiment received a significant boost from the community's approval of a $71 million upgrade package—one of Cardano's largest community-driven investments to date. Trading volume on Binance spot reached $91.7 million in the past 24 hours, reflecting growing investor confidence in the ecosystem's governance and development roadmap.