Cardano (ADA) Surges 14% in Largest Daily Gain Since November 2024
Overview of Cardano's Price Movement
Cardano (ADA) saw a significant surge on Sunday, trading at $0.7236 by 10:26 (15:26 GMT) on the Investing.com Index. This marked a 13.94% increase, its largest one-day gain since November 22, 2024. The upward momentum pushed ADA's market cap to $22.8122 billion, representing 0.81% of the total cryptocurrency market cap.
Despite the rally, Cardano's price remains 76.65% below its all-time high of $3.10, recorded on September 2, 2021. Over the past 24 hours, ADA traded within a range of $0.6450 to $0.7236.
Performance Analysis
Over the past seven days, Cardano has experienced a 16.04% decline in value, despite Sunday's rebound. The 24-hour trading volume for ADA reached $557.1576 million, accounting for 0.84% of the total cryptocurrency volume.
Meanwhile, Bitcoin and Ethereum also saw gains. Bitcoin rose 1.17% to $85,797.4, while Ethereum climbed 2.65% to $2,231.54. Bitcoin's market cap dominated at $1,689.8413 billion (60.08% of the total crypto market), followed by Ethereum at $265.8447 billion (9.45%).
Price Perspective
Cardano's recent surge highlights short-term volatility, but the cryptocurrency remains far from its historic peak. Investors should monitor ADA's performance as the broader crypto market continues to evolve.
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