With remarkable bullish activity, the price of Cardano (ADA) is clearly defying gravity as it embarks on a solo journey. According to CoinMarketCap statistics, the currency is now up 9.3% to $0.4506 at the time of writing. Notably, Cardano is now trading at about $0.46, a level it hasn’t been able to surpass this year. However, as ADA is still essentially trading at its highest price of the year, this is hardly a reason for alarm.
Cardano has seen many miserable days, therefore this current bull market surge is remarkable. As evaluated on-chain, several underlying growth measures are now positive. Cardano’s daily volume is up 61.42% to $803,194,826. This indicates that traders are still quite interested in purchasing and disposing of Cardano.
According to IntoTheBlock, there has been an intriguing shift in Cardano’s performance: the whale transaction volume. This volume is estimated by the statistics to be $16.24 billion, an increase of 33.65%. The whale’s behaviour may suggest that Cardano is appealing, but the protocol’s overall health is demonstrated by the 22.24% increase in daily active addresses.
More than 55,600 addresses are already using Cardano, which is a significant accomplishment for the system.
Will Cardano’s (ADA) price breach $0.5?
During the cryptocurrency winter, Cardano undoubtedly sustained one of the largest losses, from which it is presently attempting to recover. Even if December has so far indicated favourable news for Cardano, it remains to be seen if ADA can rise beyond the $0.5 price threshold.
With December already off to a strong start, the price may reach this remarkable level for the first time since December 2022 if the positive trajectory is maintained.
This significant surge may be documented because to its wide range of creative decentralised apps (dApps), community involvement, and overall industry trends.
