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Cardano (ADA) Surges Over 10% in Largest Daily Gain Since February
Cardano (ADA) experienced a significant surge on Friday, climbing over 10% for its largest single-day percentage gain in several months. The move pushed the cryptocurrency's price to $0.1762 and its market capitalization above $6.3 billion, according to data from the Investing.com Index.
Price Action and Volume
By 13:07 (17:07 GMT), Cardano was trading at $0.1762, representing a 10.80% increase on the day. The source noted this was the most substantial one-day percentage rise for the digital asset since February 25. The rally occurred on significant trading activity, with 24-hour volume reaching $564.7388 million.
Over the past week, Cardano has gained 17.56%. Key trading ranges for the period include:
- 24-hour range: $0.1607 to $0.1762
- 7-day range: $0.1416 to $0.1762
Market Capitalization and Context
AdThe upward price movement boosted Cardano's market capitalization to $6.3269 billion, which constitutes 0.29% of the total cryptocurrency market cap. This figure remains a fraction of its peak market cap of $94.8 billion.
Despite the recent positive performance, the asset remains significantly below its peak. Cardano's current price is still down 94.31% from its all-time high of $3.10, a level set on September 2, 2021.
Broader Crypto Market Moves
Cardano's rally outpaced the broader cryptocurrency market, which also saw modest gains on Friday. For comparison, the two largest cryptocurrencies by market cap posted smaller increases during the same period.
According to the Investing.com Index, Bitcoin (BTC) was last trading at $62,225.6, up 0.93% on the day, while Ethereum (ETH) was at $1,736.52, a gain of 2.40%. Bitcoin's market dominance stood at 57.89%, with Ethereum at 9.73% of the total crypto market value.