Cardano’s ADA token advanced 10.2% over 24 hours to $0.2047 at 21:53 GMT on August 20, marking its largest single-day gain since July 3. The price swing lifted ADA’s market capitalization to $7.31 billion, accounting for 0.29% of the total cryptocurrency market.
The token traded in a range of $0.1986 to $0.2047 during the session, extending a seven-day rally that has pushed ADA up 9.78% from $0.1715. Despite the recent gains, ADA remains 93.39% below its all-time high of $3.10, reached on September 2, 2021. Trading volume over the past day totaled $707.5 million, equivalent to 0.54% of the broader crypto market’s turnover.
Bitcoin climbed 6.29% to $73,711.80, maintaining its 59.32% share of the total cryptocurrency market capitalization at $1.48 trillion. Ethereum rose 3.72% to $2,342.83, with its market cap at $281.8 billion, representing 11.33% of digital asset investments.
The gains across major tokens follow a period of heightened volatility, with Cardano’s latest move attributed to a reported return of investor confidence. The surge contrasts with ADA’s broader downtrend from its 2021 peak, underscoring the token’s sensitivity to market sentiment shifts.
