Cardano Surges Over 12% in Biggest Daily Gain Since February

Cardano (ADA) experienced a significant rally on Saturday, surging over 12% in its largest single-day percentage gain since late February. The price jump pushed the cryptocurrency's market capitalization back above the $7 billion mark, according to data from the Investing.com Index.

Price Action

The token was trading at $0.1971 as of 13:07 GMT, marking a 12.11% increase for the day. This move represented Cardano's most substantial daily gain since February 25. The rally lifted its market cap to $7.0692 billion, accounting for approximately 0.32% of the total cryptocurrency market.

During the preceding 24-hour period, Cardano traded within a range of $0.1750 to $0.1984. Trading volume reached $852.54 million, representing 1.55% of the total volume across all cryptocurrencies, as reported by Investing.com.

Weekly Trend and Historical Context

The daily surge is part of a strong weekly performance for the asset, which has gained 30.81% over the past seven days. This recent positive momentum provides some relief for investors, though the token remains significantly below its peak valuation.

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Despite the rally, Cardano's current price is still 93.64% lower than its all-time high of $3.10, which was recorded on September 2, 2021. At its peak, the cryptocurrency's market cap stood at $94.8 billion.

Broader Market Movement

Cardano's sharp increase outpaced the more modest gains of the two largest cryptocurrencies. During the same period, Bitcoin (BTC) was up 1.17% to trade at $62,908.8, while Ethereum (ETH) gained 2.55% to reach $1,782.25.

According to the Investing.com Index, Bitcoin continues to dominate the market with a 57.73% share, while Ethereum holds 9.87% of the total cryptocurrency market value.