The ground-breaking announcement of a mixed crypto federal reserve in the making has transcended into double-digit rebound rallies for the altcoins in question. With Solana (SOL) and Ripple (XRP) recovering their major support territories, Cardano (ADA) stands out as the largest gainer with a 65% uptick all the way to $1.13, minutes after midnight UTC time on March 3, 2025.
Claiming a new monthly peak, Cardano (ADA) was just 10 cents away from the yearly high of $1.23, registered on December 7, 2024. However, the popular Layer-1 altcoin retraced back below $1 after hitting new monthly highs, bolstered by a hefty 24-hour trading volume of $9.6B on Spot markets.
Sponsored
Now, the crypto community is looking forward to the inaugural White House crypto summit, which is scheduled for this Friday, March 7, 2025. In a late February press release, the White House disclosed that prominent crypto industry figures will be visiting the event, as well as Donald Trumpโs own Working Group on Digital Assets crew.
One of the key figures in the guest list is expected to be Charles Hoskinson, the founder of Cardano (ADA) Layer-1 blockchain. On top of that, a previous business meeting in Florida attendee pledged on social media that Mr. Hoskinson might be on track for a crypto-related role in the White House.
Is Cardano Price Regaining Bull Power?
Todayโs 65% upswing for ADA on the surprise move by Donald Trumpโs U.S. government came off with a soft market correction, but bounced off from the intra-day lows of $0.94 to $0.9734 at the time of publication.
Based on technical fundamentals, Cardano (ADA) price is seeing record-high levels of crypto bull power since November 23, 2024. With the Bull Bear Power (BBP) index pointing above 0.51 on March 3, 2025, this indicator confirms a bullish breakout with a formula of smoothed out moving averages (MA).
Aside from the recovered bull strength, largest Cardano (ADA) holders, otherwise known as whales, provided a large inflow of money yesterday, pushing the Chaikin Money Flow (CMF) index to 0.37, a buying power unprecedented on Cardanoโs price since November, 2023. Today, the inflows continued at a slower pace, as the CMF index flashed 0.20 at the time of this publication.
On The Flipside
- Cardano’s founder downplayed the possibility of a crypto-related position at the White House, stating that โmeetings do not imply endorsementโ.
Why This Matters
Donald Trumpโs team is trying to follow up on the plans to establish a U.S. Bitcoin reserve with the addition of a selection of alternative currencies, marking a breakthrough in altcoin adoption.
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