Cardano (ADA) Price Skyrocket as the Market Turns Green

• Cardano (ADA) has increased by nearly 20.11% during the past 24 hours. 
• Cardano dApps completed 16 million transactions earlier this week.

Cardano (ADA), the native cryptocurrency of the Cardano blockchain, is currently experiencing positive price momentum amid the markets’ surprising “green turn.” According to CoinMarketCap (CMC), the 8th largest cryptocurrency is now trending in the global crypto market after attaining a significant price surge of 20.11% during the past 24 hours.

At the time of writing, Cardano is trading around $0.3312 with a one-day trading volume of $840,247,007. ADA has increased by nearly 32.69% during the past 7 days. 

Cardano (ADA) Surges Up

The price of Cardano has provided a very typical illustration of a consistent downward trend over the last few months. However, the ongoing uplift of the Cardano ecosystem has been attributed to several key factors, including user trust. Cardano dApps achieved a new milestone earlier this week by completing 16 million transactions. Further, ADA joined the top ten most used cryptocurrencies list for the first time in 2022, according to a recent survey. 

Moreover, as a result of the recent upward movement, Cardano’s market cap increased to $10.2953 billion, or 1.23% of the entire market capitalization of cryptocurrencies. Cardano had a market cap of $94.8001 billion at its peak. However, Cardano is currently 89.30% down from its all-time high of $3.10, according to CMC. 

In addition, as the market is quickly gaining bullish momentum, the leading cryptocurrencies have experienced a considerable price increase. At the time of writing, Bitcoin (1.78%), Ethereum (3.83%), Binance Coin (7.06%), XRP (3.61%), Dogecoin (5.19%), Polygon (7.50%), and Solana (23.17%) have obtained a major price surge in the past 24 hours.