Story
Cardano Surges Over 12% in Largest One-Day Gain Since February
Summary
The Cardano (ADA) cryptocurrency posted its largest single-day percentage increase since February 25, pushing its market capitalization above $7 billion amid a broader, but more modest, uptrend in digital assets.
Cardano (ADA) experienced a significant rally on Saturday, climbing 12.11% to trade at $0.1971 by 1:07 PM ET (17:07 GMT), according to data from the Investing.com Index. The move marked the digital asset's largest single-day percentage gain since February 25.
Rally Metrics
The price surge pushed Cardano's market capitalization up to $7.0692 billion, representing approximately 0.32% of the total cryptocurrency market value. During the preceding 24-hour period, Cardano traded within a range of $0.1750 to $0.1984.
Trading volume for Cardano over the same period reached $852.54 million, which accounted for 1.55% of the total volume across all cryptocurrencies, as reported by Investing.com.
Weekly Performance and Context
The daily rally extends a positive trend for the asset over the past week, during which it has gained 30.81%. The 7-day trading range for Cardano was between $0.1416 and $0.1984.
AdDespite the recent gains, Cardano remains significantly below its peak valuation. At its current price, the cryptocurrency is still down 93.64% from its all-time high of $3.10, which was set on September 2, 2021. At its highest, Cardano's market cap reached $94.8 billion.
Broader Crypto Market Moves
The broader cryptocurrency market also saw gains on Saturday, though more modest than Cardano's.
- Bitcoin (BTC) was up 1.17% to trade at $62,908.8.
- Ethereum (ETH) gained 2.55%, trading at $1,782.25.
Bitcoin's market cap stood at approximately $1.26 trillion, commanding 57.73% of the total market, while Ethereum's capitalization was $215.53 billion, or 9.87% of the market.