ADA (Cardano) has risen 8.84% in the last 24 hours.

Gate News Bot message, July 11, according to CoinMarketCap, as of the time of writing, ADA (Cardano) is currently priced at 0.67 USD, rising 8.84% in the last 24 hours, reaching a high of 0.68 USD and a low of 0.56 USD. The current market capitalization is approximately 23.81 billion USD, an increase of 1.933 billion USD compared to yesterday. Currently, ADA ranks 10th in the market capitalization of Crypto Assets.

Cardano is a proof-of-stake blockchain platform that aims to provide the tools and technologies needed for changemakers, innovators, and visionaries to create possibilities for the masses and bring about positive global change. Cardano is the first blockchain platform built on peer-reviewed research and developed through an evidence-based approach. It combines groundbreaking technology to deliver unparalleled security and sustainability for decentralized applications, systems, and societies.

Important news about ADA recently:

1️⃣ The weekly golden cross has appeared, which may indicate a reversal of the long-term trend Cardano has seen its first weekly golden cross in history, with the 50-week moving average crossing above the 200-week moving average, which may indicate an important turning point in ADA's long-term price trend. A golden cross at the weekly level is typically regarded as a strong bullish signal, suggesting that buyers are starting to gain the upper hand after months of consolidation.

2️⃣ Whales continue to accumulate, indicating increased confidence among institutional investors In the past two weeks, whale addresses holding between 1 million and 10 million ADA have cumulatively increased their holdings by approximately 120 million ADA. Currently, these large holders collectively own about 5.5 billion ADA, worth approximately 3.3 billion dollars. Continuous accumulation by whales is often seen as an indicator of market confidence, suggesting that large funds are optimistic about the future trend of ADA.

3️⃣ The Cardano Foundation's asset scale expands, and the investment portfolio diversifies With the rise in cryptocurrency prices, the value of the crypto assets held by the Cardano Foundation has increased from $478.24 million to $659.1 million. Bitcoin accounts for about 15%, while the proportion of ADA has decreased from 83% to 77%, indicating a more diversified portfolio. The expansion of the Foundation's asset scale helps support the ongoing development of the Cardano ecosystem.

From a technical perspective, ADA's current trading price is still below the 50-day moving average (0.66 USD) and the 200-day moving average (0.64 USD). If it can break through these key resistance levels, it may attract more buying interest, pushing the price further up.

This message does not constitute investment advice; investors should be aware of market volatility risks.