The post Why is Cardano (ADA) price up today? appeared on BitcoinEthereumNews.com.

Cardano (ADA) has recovered strongly, bouncing 60% from a low of $0.64 on March 2 to reach a 12-week high of $1.19. The rebound comes after President Donald Trump directed a working group to “move forward” with establishing a Crypto Strategic Reserve including Solana (SOL), XRP (XRP) and ADA. ADA/USD daily chart. Source: TradingView Let’s take a closer look at all the main factors driving ADA price up today. President Donald Trump’s Strategic Crypto Reserve The most immediate catalyst for Cardano’s price surge today is US President Donald Trump’s executive order on the establishment of a Strategic Crypto Reserve. What to know: In a March 2 post on Truth Social media platform, President Trump revealed that he had directed the President’s Working Group on Digital Assets to include XRP, Solana and Cardano in the Crypto Strategic Reserve. Later, Trump added Bitcoin (BTC) and Ether (ETH) to the list of crypto assets to be included, emphasizing that they would be at the “heart of the reserve.” Source: Donald J. Trump This announcement marks a historic shift in US policy toward digital assets, signaling government endorsement of cryptocurrencies as a strategic asset class.  Trump emphasized that this reserve aims to bolster the crypto industry after what he described as years of regulatory hostility under the previous administration.  The market reacted swiftly, with ADA experiencing a reported 70% price increase within hours of the announcement, reaching approximately $1.20.  Whale accumulation boosts ADA price ADA’s rally on March 3 was preceded by notable accumulation among large investors, often referred to as whales, according to data from market intelligence firm Santiment. Key points: Large investors, holding between 10 million and 100 million ADA, have been steadily acquiring more tokens following the latest crash to $0.57. Over the last three days, these whales have added more…

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Filed under: News - @ March 3, 2025 8:22 am