ADA (Cardano) rises 12.85% in 24 hours.

Gate News Bot news, on July 18, according to CoinMarketCap, as of the time of writing, ADA (Cardano) is currently priced at 0.85 USD, with a rise of 12.85% in the last 24 hours, reaching a high of 0.86 USD and a low of 0.69 USD. The current market capitalization is approximately 30.071 billion USD, an increase of 3.424 billion USD compared to yesterday. Currently, ADA ranks 10th in the Crypto Assets market capitalization leaderboard.

Cardano is a blockchain platform based on peer-reviewed research and developed through empirical methods. It combines advanced technologies to provide unparalleled security and sustainability for decentralized applications, systems, and societies. Cardano aims to redistribute power from irresponsible structures to individuals, becoming a driving force for positive change and progress.

Important news about ADA recently:

1️⃣ The clarification of U.S. regulatory policies boosts market confidence The United States is about to pass the GENIUS stablecoin bill and the digital asset market structure (CLARITY) bill, which is expected to bring a clearer regulatory framework to the crypto assets market. The advancement of these bills will bring greater institutional capital inflow to the crypto market, thereby driving the rise in the prices of crypto assets, including ADA.

2️⃣ The Cardano Foundation's asset scale has significantly risen The total assets of the Cardano Foundation increased significantly from $478.24 million at the end of 2023 to $659.1 million in 2024. Among them, ADA accounts for 76.7% of the foundation's assets, approximately 599.2 million coins, while Bitcoin accounts for 15%, roughly $99 million. The expansion of the asset scale provides strong support for the continuous development of the Cardano ecosystem.

3️⃣ The Reeve system launches to enhance financial transparency The Cardano Foundation officially launched the enterprise-level financial reporting system Reeve based on the Cardano blockchain on July 8. This system aims to enhance the transparency and security of financial data by recording financial data on the Cardano blockchain, ensuring that the data is immutable and verifiable. This initiative helps to strengthen investor confidence in the Cardano project.

From a technical perspective, after ADA broke through the key resistance level of 0.7 USD, it is expected to test 0.9 USD in the short term. The current strong upward momentum indicates robust buying demand, but investors should remain cautious of potential pullback risks.

This message is not to be taken as investment advice; investors should be aware of market volatility risks.