Cardano Surges 11% as ETF Inflows Fuel Crypto Rally

The Cardano (ADA) price has surged by 11% to $0.220, largely driven by a wave of institutional capital into crypto ETFs and a macro-induced short squeeze.

This rally, which saw the total market cap increase by 5.54% in 24 hours, was primarily fueled by record ETF inflows and a Treasury buyback-induced short squeeze.

The U.S. spot Bitcoin ETFs saw a four-day inflow streak totaling approximately $1.61 billion, with a single-day intake of $606.29 million on August 20, the largest since May 1.

Cardano's move was largely a beta play, riding this powerful wave of institutional capital and macro-driven liquidity flooding back into crypto.