Cardano (ADA) has risen 5% in the last 24 hours, trading at $0.762 as of November 18, reaching a 30-month high of $0.820 earlier in the week. This positive momentum follows the Cardano Foundation's recent financial report for 2023, revealing expenditures totaling $19.22 million across adoption, education, and operational resilience. Investments in initiatives like Aiken, a new programming language for smart contracts, have aimed to enhance the network’s adoption and operational stability. Cardano's on-chain activity is also escalating, nearing 100 million transactions, reflecting robust demand and adoption, with significant growth in total value locked (TVL) reaching $470.7 million. The recent price action has formed a bullish bull flag pattern, with a potential target of $1.11 if the upper trendline is breached. Overall, Cardano's improvements in functionality and increased ecosystem participation appear to be key drivers of its price increase.

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