The price of the Cardano blockchain’s native token $ADA has surpassed $1 for the first time in two years. At the time of writing, the altcoin is trading around $1.09, a level it last reached in April 2022.
In the last 24 hours, the price of ADA has risen 24%, while trading volume has increased by 131%. Given this surge in interest, Cardano is likely to continue its rally.
Cardano holders are in the money again
Cardano’s recent rally has been profitable for many holders: according to IntoTheBlock’s Global In/Out of the Money indicator, 3.15 million addresses, or 71% of all ADA investors, are “in the money.”
At the same time, 715,230 addresses, or 16% of all ADA holders, are “in the money.” According to IntoTheBlock, they bought the coins when Cardano's native token was worth more than $1.40.
