Cardano
Cardano Records Double-Digit Gain as On-Chain Treasury Vote Draws Low Approval
ADA advanced nearly eleven percent amid a broader market rally, while an active governance proposal to withdraw treasury funds faces minimal support.
Cardano gained 10.8% over a 24-hour period to reach $0.2245 on September 18, 2026, bringing its seven-day increase to 10.6% and monthly gain to 19.0%. The asset recorded a 24-hour trading volume of $707.34 million against a market capitalization of $8.42 billion, placing it as the 18th largest cryptocurrency by market value.
While some market commentary attributed the price increase to an ongoing governance vote concerning an 11,787,063 ADA withdrawal from the Cardano treasury, on-chain records show the measure had garnered only 2.14% approval from representatives, far short of the 67% required threshold. The proposal, which runs until October 11, 2026, includes provisions to convert the bulk of the requested funds into a US dollar stablecoin upon approval.
Market data suggests the price movement coincided with a wider cryptocurrency recovery rather than an asset-specific catalyst. During the same period, Bitcoin climbed 5.9% to $80,874 and Ethereum rose 6.7% to $2,610.94, indicating that Cardano's advance mirrored a market-wide upward adjustment.
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