The price of Cardano's cryptocurrency, ADA, has been increasing despite a bearish market. While the overall crypto market cap has decreased, ADA has gained over 11% this week and is currently trading at around 76 cents. The altcoin's fully diluted valuation has surpassed $34.4 billion, with a daily trading volume of $1.4 billion. Demand from institutional investors has increased due to network developments and decentralized governance initiatives. Additionally, Grayscale Investment has filed for a spot ADA ETF with the US SEC. ADA's price is currently in a short-term correction mode, testing support between $0.68 and $0.76. However, it has rebounded above a falling logarithmic trend and is poised to rally towards its all-time high.



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