Story
Cardano Surges Over 10% for Biggest Daily Gain Since February
Summary
Cardano (ADA) experienced its largest single-day percentage gain since February 25, rising over 10% and pushing its market capitalization above $6.3 billion amid a broader, but more modest, crypto market uptrend.
Cardano (ADA) rallied significantly on Friday, posting its largest single-day percentage gain in over four months. The cryptocurrency was trading at $0.1762 by 1:07 PM ET (17:07 GMT), an increase of 10.80% for the day, according to data from the Investing.com Index.
Price Action and Market Metrics
The upward move boosted Cardano's market capitalization to $6.3269 billion, representing about 0.29% of the total cryptocurrency market value. The surge came on the back of elevated trading activity.
Key figures for Cardano over the past 24 hours include:
- Trading Range: $0.1607 to $0.1762
- 7-Day Gain: 17.56%
- 24-Hour Volume: $564.7388 million, or 0.85% of the total crypto market volume
AdThis marks the digital asset's most substantial daily percentage increase since February 25, as cited by Investing.com.
Broader Market Context
Despite the strong weekly performance, Cardano remains significantly below its peak. At its current price, the token is still down 94.31% from its all-time high of $3.10, which was set on September 2, 2021. The asset's highest-ever market cap was recorded at $94.8001 billion.
Cardano's gains outpaced those of the market leaders on Friday. Bitcoin (BTC) was up a modest 0.93% to trade at $62,225.6, while Ethereum (ETH) saw a 2.40% gain to $1,736.52, per the Investing.com Index. Bitcoin and Ethereum maintained their dominant positions, with market caps of approximately $1.24 trillion and $209 billion, respectively.