ADA (Cardano) rose by 4.82% in the last 24 hours.

Gate News Bot news, July 14, according to CoinMarketCap data, as of the time of writing, ADA (Cardano) is currently priced at $0.74, having risen 4.82% in the last 24 hours, reaching a high of $0.77 and a low of $0.57. The current market capitalization is approximately $26.33 billion, an increase of $1.211 billion compared to yesterday. Currently, ADA ranks 10th in the crypto assets market capitalization leaderboard.

Cardano is the first blockchain platform built on peer-reviewed research, aimed at providing secure and reliable data protection for billions of people worldwide, with sufficient scalability to accommodate global systems and enough robustness to support foundational change. Cardano uses proof of stake and the Ouroboros protocol, making it one of the most environmentally sustainable blockchain protocols. The platform is committed to rebuilding trust in global systems through science, providing a more secure, transparent, and sustainable foundation for personal transactions and exchanges, system governance, and business development.

Important news about ADA recently:

1️⃣ The weekly golden cross appears, which may indicate a long-term trend reversal Cardano experienced 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 the long-term price trend of ADA. Weekly golden crosses are often seen as a strong bullish signal, indicating that buyers are starting to gain the upper hand after months of sideways movement.

2️⃣ Whales continue to accumulate, showing increased confidence from institutional investors In the past two weeks, whale addresses holding between 1 million to 10 million ADA have cumulatively increased their holdings by approximately 120 million ADA. Currently, these large holders have a total of about 5.5 billion ADA, valued at around 3.3 billion USD. Continuous accumulation by whales is often seen as a market confidence indicator, suggesting that substantial 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 Crypto Assets 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 ADA's share 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 has broken through the 50-day moving average (0.66 USD) and the 200-day moving average (0.64 USD). This breakthrough may attract more buyers into the market, driving the price further up.

This message is not an investment advice; investment should take market volatility risks into account.