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Cardano Gains Over 12% in Saturday Trading
Summary
The cryptocurrency Cardano experienced its largest single-day percentage gain since late February, rising over 12% on Saturday. This rally increased Cardano's market capitalization to more than $7 billion.
On Saturday, Cardano (ADA) recorded a significant price increase, trading at $0.1971 by early afternoon GMT. This represented a 12.11% gain for the day, marking its largest single-day percentage increase since February 25.
The upward movement pushed Cardano’s market capitalization to approximately $7.07 billion, accounting for 0.32% of the total cryptocurrency market. This is a notable recovery, though its market cap was once as high as $94.8 billion.
Over the past seven days, Cardano has gained 30.81% in value, trading in a range of $0.1416 to $0.1984. The 24-hour trading volume at the time of the report was approximately $852.54 million, which constituted 1.55% of the total volume for all cryptocurrencies.
AdDespite the recent rally, Cardano's current price remains approximately 93.64% below its all-time high of $3.10, which was set on September 2, 2021.
The broader cryptocurrency market also saw modest gains on the day. According to the Investing.com Index, Bitcoin was up 1.17% to trade at $62,908.8, while Ethereum gained 2.55%, trading at $1,782.25.