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Cardano Surges Over 12% in Largest Daily Gain Since February
Cardano (ADA) rallied significantly on Saturday, posting its largest single-day percentage gain since February 25. The digital asset was trading 12.11% higher at $0.1971 as of 1:07 PM ET (17:07 GMT), according to data from the Investing.com Index.
Rally Boosts Market Cap
The sharp upward movement pushed Cardano's total market capitalization to $7.0692 billion, representing approximately 0.32% of the entire cryptocurrency market's value. The day's trading saw the asset move within a range of $0.1750 to $0.1984.
Trading volume for Cardano in the preceding 24 hours reached $852.54 million, accounting for 1.55% of the total volume across all cryptocurrencies, as per the source. The surge contributes to a strong weekly performance for the token.
AdMarket Context and Performance
This daily jump is part of a broader positive trend for Cardano, which has seen its value increase by 30.81% over the past seven days. Despite these recent gains, the asset remains substantially below its peak valuation.
At its current price, Cardano is still down 93.64% from its all-time high of $3.10, a level reached on September 2, 2021. The broader cryptocurrency market also saw gains, with Bitcoin (BTC) up 1.17% and Ethereum (ETH) up 2.55% on the day, according to the Investing.com Index.