Why is Cardano (ADA) price up today？

ADA price is up 64% from its recent lows of $0.57 ahead of the first-ever White House Crypto Summit scheduled for March 7.

Cardano (ADA) has recovered strongly, bouncing 30% from March 4 low of $0.7570 to an intraday high of $0.9792 ahead of this weeks first-ever White House Crypto Summit.

The top-ten altcoin is up 13% over the last 24 hours to trade at $0.9384 at the time of writing.

ADA/USD daily chart. Source: Cointelegraph/TradingView

Lets take a closer look at all the main factors driving ADA price up today.

Anticipation for the White House Crypto Summit

The first-ever White House Crypto Summit, scheduled for March 7, 2025, is generating significant buzz across the crypto industry, and Cardano is no exception.

What to know:

• US President Donald Trump will host the first White House Crypto Summit on March 7.
• The summit is aimed at bringing together industry leaders to discuss regulatory policies, stablecoin oversight, and the potential role of cryptocurrencies in the US financial system.
• The attendees will include prominent industry leaders, including potentially Cardano founder Charles Hoskinson, along with members of the Presidents Working Group on Digital Assets.
• The summit will be chaired by Sacks and administered by Bo Hines, the executive director of the Working Group.

President Trump will host the first White House Crypto Summit on Friday March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry. Look forward to seeing everyone there! pic.twitter.com/PEynzDuAOt

— David Sacks (@davidsacks47) March 1, 2025

• This comes after Trumps recent announcement of a US Strategic Crypto Reserve, explicitly naming Cardano alongside Bitcoin (BTC), Ether (ETH), XRP (XRP), and Solana (SOL)
• This has fueled speculation about a pro-crypto regulatory shift, with the summit expected to clarify the administrations stance on digital assets.
• The inclusion of ADA in the proposed reserve signals is boosting investor confidence.
• Markets often rally in anticipation of favorable policy, and today‘s price uptick reflects traders positioning themselves ahead of potential announcements that could cement Cardano’s role in a national blockchain strategy.
• While details remain sparse, the summit‘s promise of regulatory clarity is a powerful catalyst for ADA’s current momentum.

Cardano TVL recovers by 52%

DeFi protocols on the Cardano Network have also significantly increased since Feb. 28, improving investor trust.

• Cardanos total locked value (TVL) rose from $268 million to $408 million in six days, marking 52% weekly gains.

Cardanos TVL chart. Source: DefiLlama

• The rise in TVL was led by Indigo (synthetics protocol), Liqwidi (Lending), and MinSwap (DEX), which registered increases of 32%, 30% and 29% in locked value, respectively, over the past seven days.

• Cardano has also witnessed a considerable increase in onchain activity, evidenced by an increase in daily transactions since March 1, as per data from Artemis.

Cardano: Number of daily transactions. Source: Artemis

• Cardanos open interest (OI) has also increased by $325 million over the same period, reaching $874.4 million on March 5.
• The funding rate remained negative, suggesting that many traders were shorting ADA, anticipating a pullback.
• If bullish momentum continues, this could trigger a short squeeze, forcing bears to cover positions and pushing ADA even higher.

ADA price still validates a bull flag

ADA confirmed a bull flag pattern on March 2, when it breached the upper boundary of the flag in the weekly timeframe at $0.80.

What you should know:

• ADA is currently testing the resistance level at the $1.20 psychological level, as shown in the chart below.
• A high volume move above this level could accelerate the recent bullish momentum toward the technical target of the prevailing chart pattern at $3.20.
• This would represent a 238% gain from the current level.

ADA/USD weekly chart. Source: Cointelegraph/TradingView

• The relative strength index (RSI) is above the midline and has risen from 47 to 58 over the last 30 days, indicating an increasing bullish momentum.
• The RSIs value of 58 suggests that there is more room for the upside before oversold conditions set in again.
• Conversely, a weekly candlestick close below the upper boundary of the flag at $0.80 could invalidate the bullish thesis.
• If this happens, ADA may continue its consolidation within the flag for a few more days.

The ADA price is “showing strong recovery at $0.95, up 21.87%,” said crypto analyst Kwantxbt in a March 5 post on X, adding:

“Volume surge and tight consolidation suggest the potential for a run up into the $1.05-1.10 range. Support at $0.92.”

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.