Cardano (ADA) has posted a modest 0.74% gain in the past 24 hours, pushing its price to $0.5862 as of the latest reading. The increase, while seemingly small, comes alongside a notable 16.49% jump in 24-hour trading volume, now standing at $622.8 million. This uptick in volume suggests heightened investor interest despite broader market uncertainty.
ADA Fluctuates Within Tight Band, Shows Resilience
The price chart shows ADA traded between a low of $0.5735 and a high of $0.5888 within the 24-hour window. Although volatility was present, Cardano appeared to maintain upward momentum throughout most of the day, finishing near the higher end of its range. Earlier dips were aggressively bought up, hinting at bullish undercurrents.
24-hour price chart CoinMarketCap
The price spiked momentarily above $0.5876 before pulling back slightly, but managed to recover steadily through early July 8. As seen in the trendline, ADA’s late-morning rally helped it recover nearly all intraday losses, closing in on the $0.59 mark.
Market Cap and Supply Stats
Cardano’s market capitalisation rose in tandem with its price, reaching $20.74 billion. The fully diluted valuation (FDV) is now estimated at $26.37 billion. ADA remains the 10th-largest cryptocurrency by market cap, with 35.38 billion tokens in circulation out of a max supply of 45 billion.
Related article: Cardano Price Recovery: Can ADA Break $0.70 This Month? Key Levels and Analyst Predictions
The current price gives ADA a modest volume-to-market cap ratio of 3%, indicating decent liquidity without suggesting overheated speculation. ADA’s total supply sits at approximately 44.99 billion coins.
ADA remains 81.11% below its all-time high of $3.10, recorded on September 2, 2021. However, it has maintained a staggering 3,273.57% gain since its all-time low of $0.01735 on October 1, 2017. This context shows ADA is far from its peak but still holds massive long-term ROI for early adopters.
What’s Next for ADA?
With Cardano pushing against short-term resistance near $0.59, traders will be watching for a clean breakout toward $0.60. The rising volume suggests growing interest, but ADA needs sustained buying pressure to confirm a bullish trend.
Related article: Cardano Whales Accumulate ADA While Retail Investors Retreat
If current momentum continues and Bitcoin stays stable, ADA may test the $0.60–$0.61 range. However, failure to maintain above $0.585 could open the door to a short-term pullback.
