Cardano Surges 11% Amid Growing Investor Confidence
Cardano’s Impressive Rally
Cardano soared to $0.7927 by 02:05 (07:05 GMT) on Monday, registering an 11.28% surge, the largest single-day increase since December 13, 2023. This surge instilled confidence in investors, signaling a positive trend in the market.
Market Cap Movement
The upward momentum pushed Cardano’s market cap to $27.9940B, representing 1.17% of the total cryptocurrency market cap. This marked a significant increase from its highest market cap of $94.8001B.
Trading Performance
Cardano traded in a range of $0.7236 to $0.7928 in the past twenty-four hours, showcasing its volatility and potential for gains. Over the past week, Cardano has witnessed a remarkable 33.68% surge in value, indicating a positive sentiment among traders.
Volume and Price Fluctuations
The volume of Cardano traded in the last twenty-four hours stood at $1.2410B, accounting for 1.11% of the total cryptocurrency volume. Despite its recent gains, Cardano remains 74.42% below its all-time high of $3.10 achieved on September 2, 2021.
Cryptocurrency Landscape
Bitcoin recorded a price of $63,627.9 on the Investing.com Index, marking a 2.84% increase, while Ethereum traded at $3,470.23, up by 1.68%. Bitcoin’s dominance in the market cap reached $1,251.0564B, representing 52.27% of the total cryptocurrency market cap, with Ethereum trailing at $417.2733B, accounting for 17.43% of the market value.
