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Cardano Price Surges Over 12% in Saturday Rally
Summary
The cryptocurrency Cardano saw its largest single-day percentage gain since February, rising over 12% during Saturday trading. The rally boosted its market capitalization to over $7 billion amid broader, modest gains in the crypto market.
Cardano (ADA) experienced a significant price increase on Saturday, trading at $0.1971 by 1:07 PM EDT (17:07 GMT). The 12.11% rise marked the cryptocurrency's largest single-day percentage gain since February 25, according to data from the Investing.com Index.
The upward movement pushed Cardano's market capitalization to approximately $7.07 billion, which represents 0.32% of the total cryptocurrency market cap. At its peak, Cardano's market cap was recorded at $94.8 billion.
This daily rally is part of a broader positive trend for the asset over the past week, during which it has gained 30.81%. In the 24 hours leading up to the report, Cardano's trading volume was approximately $852.54 million, and it traded within a range of $0.1750 to $0.1984.
AdDespite the recent gains, Cardano's current price remains down 93.64% from its all-time high of $3.10, which was set on September 2, 2021.
Other major cryptocurrencies also saw gains during the same period. Bitcoin was up 1.17% to trade at $62,908.8, while Ethereum gained 2.55% to reach $1,782.25.