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Cardano Surges Over 10% in Largest Daily Gain Since February
Cardano (ADA) posted a significant rally on Friday, gaining 10.80% to trade at $0.1762 by 13:07 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 Metrics
The sharp upward move boosted Cardano's market capitalization to $6.3269 billion, representing approximately 0.29% of the total cryptocurrency market value. The token traded within a 24-hour range of $0.1607 to $0.1762.
Trading volume for Cardano in the preceding 24 hours reached $564.7388 million, which accounted for 0.85% of the total volume across all cryptocurrencies, as per the source. The rally extends a positive trend for the asset, which has gained 17.56% over the past seven days.
AdBroader Context
Despite the recent gains, Cardano remains significantly below its peak valuation. At its current price, ADA is still down 94.31% from its all-time high of $3.10, which was set on September 2, 2021. The token's highest-ever market capitalization was recorded at $94.8 billion.
Cardano's performance occurred within a generally positive cryptocurrency market. Bitcoin (BTC), the market leader, was up 0.93% to trade at $62,225.6, while Ethereum (ETH) gained 2.40% to reach $1,736.52, according to the Investing.com Index. Bitcoin's market cap stood at $1.244 trillion, commanding 57.89% of the market, with Ethereum's at $209.07 billion, or 9.73% of the total.