Cardano ADA News: Price Jumps 15% in a Week, Potential Trend Shift Observed

Cardano (ADA) has experienced a significant price surge, jumping 15% in just one week, hinting at a possible change in market trend. Despite stable whale activity, technical indicators such as the ADX are pointing towards a strengthening upward momentum. Read on to learn more about this exciting development in the Cardano market.

Cardano (ADA) Price Jumps 15% In a Week

Cardano's price has jumped 15% in a week, indicating a potential shift in trend. However, whale activity remains stable, suggesting that large holders are not yet aggressively accumulating. The ADX (Average Directional Index) has risen to 21.7 from 16.2 in just one day, signaling a strengthening trend. If ADA maintains its momentum and forms a golden cross, it could push toward $1.16. Despite the rebound, failure to hold support may trigger another downturn.

Cardano Founder Supports Elon Musk's D.O.G.E. Investigation into the SEC

Charles Hoskinson, the founder of Cardano, has expressed strong support for Elon Musk's Department of Government Efficiency (D.O.G.E.) investigation into the practices of the Securities and Exchange Commission (SEC). The probe, announced on February 18, 2025, aims to uncover potential waste, fraud, and abuse within the securities agency. Hoskinson's enthusiasm for the investigation has catalyzed major cryptocurrency developments, with numerous crypto leaders jumping in to support it. The D.O.G.E.'s audit initiative, under Musk's close direction, has created several key initiatives targeting efficiency and transparency in government operations.

Cardano (ADA) Price Prediction and Recent Market Performance

The entire cryptocurrency market has been experiencing significant losses, with Cardano (ADA) among the affected assets. Over the past 24 hours, ADA has dropped by more than 4%, currently trading at $0.7748. The asset has also encountered major declines over the past week and month, with a nearly 30% drop in the last 30 days. Despite this, ADA recorded a 21% rise last year, trading at a low of $0.2799 before jumping to a high of $1.32.

Cardano Market Cap Surges Nearly 130%, Climbing to 9th Place

Cardano has experienced a significant surge in market capitalization, increasing nearly 130% to reach $30 billion and ranking 9th in the market. This growth is attributed to multiple factors, including major protocol improvements and a steady rise in the adoption of decentralized apps (dApps). The Ouroboros Peras protocol has been influential in blockchain governance and scalability, enhancing transaction speeds, easing network congestion, and boosting DeFi engagement. The recent Chang Hard Fork has further strengthened Cardano’s ecosystem functionality.