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Cardano (ADA) Surges Over 12% in Weekend Rally, Outpacing Major Cryptos
Cardano (ADA) experienced a significant rally on Saturday, with its price surging 12.11% to trade at $0.1971 by 1:07 PM ET (17:07 GMT), according to data from the Investing.com Index. The move marked the cryptocurrency's largest single-day percentage gain since February 25.
Key Price Action
The upward price movement pushed Cardano's market capitalization to $7.069 billion, representing approximately 0.32% of the total cryptocurrency market cap. Over the preceding 24 hours, the digital asset traded within a range of $0.1750 to $0.1984.
The rally extends a period of positive momentum for the token. Over the past seven days, Cardano has gained 30.81% in value. Despite this recent strength, the asset remains significantly below its peak; at its current price, ADA is still down 93.64% from its all-time high of $3.10, set on September 2, 2021.
Broader Market Context
AdCardano's double-digit gain notably outpaced the performance of the market's leading cryptocurrencies. During the same period, the broader market saw more modest increases:
- Bitcoin (BTC) was up 1.17% to trade at $62,908.8.
- Ethereum (ETH) registered a gain of 2.55%, reaching a price of $1,782.25.
Trading volume for Cardano in the 24 hours leading up to the report was $852.54 million, accounting for 1.55% of the total volume across all cryptocurrencies, as per the Investing.com Index.