Cardano (ADA) has sent shockwaves through the crypto market, rallying 15.62% in the past 24 hours to reach $0.8119. This surge comes after weeks of consolidation, igniting speculation about ADA’s next move. The momentum was fueled by a sharp increase in trading volume, which skyrocketed 56.47% to $1.21 billion.
A Massive Breakout After Weeks of Stagnation
The rally wasn’t immediate. For most of the day, ADA traded sideways, even dipping to a low of $0.6947. However, bulls took control late into the night, pushing the price past key resistance levels. This upward momentum saw ADA peak at $0.808, marking one of its strongest single-day performances in recent months.
24 hours price chart- source: CoinMarketCap
The broader crypto market’s bullish sentiment also played a role. With Bitcoin and Ethereum showing strength, Cardano rode the wave, attracting heavy buy pressure. Cardano’s market capitalization surged to $28.57 billion, a 15.47% increase. With a circulating supply of 35.19 billion ADA, this places Cardano firmly within the top 10 cryptocurrencies.
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Investors are now eyeing its fully diluted valuation (FDV) of $36.5 billion, which suggests further upside if momentum sustains. ADA’s liquidity remains strong, with a 4.24% volume-to-market cap ratio, reinforcing the bullish outlook.
Can ADA Reclaim Its All-Time High?
Despite the recent pump, ADA still sits 73.96% below its all-time high of $3.10 from September 2021. However, long-term holders remain optimistic. The recent rally is reminiscent of past breakouts, and if sustained, Cardano could be primed for a run toward $1 and beyond.
Another key factor is ADA’s resilience over time. Its all-time low of $0.01735 in October 2017 means it has surged over 4,549% since inception, making it one of the most profitable altcoins for early investors
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If ADA maintains its bullish trajectory, breaking past $0.85 could be the next milestone. However, traders should watch for profit-taking around current levels. If Bitcoin and Ethereum continue their uptrend, ADA could easily follow, setting the stage for a return above $1.
The next few days will be crucial in determining whether Cardano’s latest surge is just a spike or the beginning of a sustained rally. Either way, the market is watching closely, and ADA holders have reasons to be excited.
