Cardano Price Prediction: ADA Soars 8% Adding $1 Billion to its Market Cap

Ada Crosses towards 0.6$, Can cross 1$ Soon

The Cardano price has increased more than 8% over the last 24 hours to trade at $0.447 as of 3:00 a.m. EST as its total market value draws closer to $16 billion.

ADA saw its market capitalization soar by over $1 billion in just 24 hours from a low of $14.87 billion on Dec. 6 to today’s intraday high of $15.89 billion. This signals a new wave of buying pressure.

At the time of writing, Cardano’s market cap was at $15.823, cementing its position 8th-largest cryptocurrency by valuation, on the CoinMarketCap ranking.

The latest rally saw the Layer 1 token rally from a low of $0.417 on Wednesday to a peak of $0.456 reached during the early Asian trading hours on Thursday, representing a 9% gain. The move has added further momentum to a revival that has now brought ADA more than 89% off its mid-October lows.

Trading volume for ADA has also surged over the past 24 hours soaring to $774 million—a staggering 38% increase, according to data from CoinMarketCap.

As markets pause to take a breath amidst the ecstatic run witnessed this past week, ADA appears poised to capitalize further on any pullback should traders maintain conviction during moments of hesitation.