Cardano Jumps Over 10% in Largest Daily Gain Since February

Cardano (ADA) experienced a significant price surge on Friday, climbing 10.80% to trade at $0.1762 by 1:07 PM ET (17:07 GMT), according to data from the Investing.com Index. The move marked the digital asset's largest single-day percentage gain since February 25.

Price Action and Market Cap

The rally pushed Cardano's market capitalization to $6.3269 billion, representing approximately 0.29% of the total cryptocurrency market value. Throughout the preceding 24 hours, the token traded in a range between $0.1607 and its high of $0.1762.

Trading volume for Cardano over the 24-hour period reached $564.7388 million, accounting for 0.85% of the total volume across all cryptocurrencies, as per the source. The token has seen a positive trend over the last week, gaining 17.56%.

Broader Context

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Despite the recent gains, Cardano's current price remains significantly below its peak. The cryptocurrency is still down 94.31% from its all-time high of $3.10, which was set on September 2, 2021. At its highest point, Cardano's market cap reached $94.8 billion.

Wider Crypto Market Moves

Cardano's sharp increase outperformed the broader cryptocurrency market, which saw more modest gains on the day. The two largest digital assets recorded smaller advances during the same period:

• Bitcoin (BTC) was up 0.93% to trade at $62,225.6, holding a market dominance of 57.89%.
• Ethereum (ETH) gained 2.40% to reach $1,736.52, with its market cap accounting for 9.73% of the total market.