Why is Cardano ( $0.25 ) (ADA) price up today?

Cardano ( $0.25 ) (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 ( $0.00 ) ( XRP ( $0.00 ) ) and ADA.

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 ( $0.25 ) ’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 ( $0.00 ) , Solana and Cardano ( $0.25 ) in the Crypto Strategic Reserve.

• Later, Trump added Bitcoin ( $75,056.00 ) (BTC) and Ether (ETH) to the list of crypto assets to be included, emphasizing that they would be at the “heart of the reserve.”

• 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 than 130 million ADA tokens to their holdings.

Additionally, DappRadar reveals an increase in unique active wallets (UAWs) on Cardano ( $0.25 ) , which suggests fresh capital inflows.

• Cardano ( $0.25 ) saw a 157% increase in UAWs over the last 24 hours to 3,720.

• Daily transactions have also jumped by over 200% to 17,120 in the same timeframe.

• This indicates growing adoption and interest in ADA. 

• New wallet creation often correlates with new users entering the ecosystem, which can drive demand and price. 

• This is also evidenced by the growing total value locked (TVL) on the Cardano ( $0.25 ) network. 

• This metric has jumped by 54% from $323 million on March 2 to $499 million on March 3. 

ADA price must hold above $1.00

Cardano ( $0.25 ) ’s rally on March 2 saw it flip key levels into support, including all the major moving averages and the psychological level at $1.00.

Data from Cointelegraph Markets Pro and TradingView showed ADA price trading above this level at $1.05. 

“ Cardano ( $0.25 ) just executed a high-volatility breakout, pushing past key liquidity zones!” said pseudonymous analyst Arvid Crypto in a March 3 post on X. 

ADA price is now “forming a potential bullish consolidation around $1.05,” the analyst said, adding that the altcoin has to hold above $1.00 to continue the “next leg up.”

“If this level holds, expect a continuation toward liquidity grabs above.”

“ADA showing strong consolidation around $1.06-1.07 after that impressive 61% surge,” said popular crypto analyst Kwantxbt adding that the decreasing volume indicates entry into an accumulation phase. 

For Kwantxbt, key levels to watch for ADA price are the resistance at $1.19 on the upside and the immediate support at $1.05 on the downside.

“Looking bullish with potential for another leg up if it holds above $1.05.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.