Cardano ADA's Green Rally in 2024: Eyeing Double-Digit Gains

• Cardano ADA Experiences Significant Trading Volume Increase
• Continuous Growth since December 2023
• Rising Trading Volumes Indicate Ongoing Interest
• Investor Watch

Cardano ADA Experiences Significant Trading Volume Increase

The last 24 hours has seen Cardano ADA achieve a notable surge in trading volume. This has resulted in the cryptocurrency starting 2024 in the green. CoinGlass reports that the key turnover metric for the Cardano token has risen impressively, showing a 49.07% increase to reach $631.41 million.

Continuous Growth since December 2023

ADA has witnessed an upward trend since mid-December 2023, hence its ongoing growth in 2024 does not come as a surprise. Over the recent weeks, ADA has exhibited periodic price spikes, increasing by an additional 50%. Trading volumes have also taken a leap from the average $120 million to $400 million. Moreover, the coin's value has swelled by over 180% in under three months.

Rising Trading Volumes Indicate Ongoing Interest

The escalating trading volumes of ADA hint at increased liquidity and ongoing interest in the token. The current levels of trading activity for Cardano have not been seen since the summer of 2022. According to data from CoinGlass, the Cardano token shows signs of accumulation on its price chart. This is similar to a pattern seen in November, when the token traded flat for 23 days preceding a growth spurt of 75%.

Investor Watch

Investors are keenly observing the activity of ADA in the coming days to see if the price will keep surging. As per CoinMarketCap, the trade price for Cardano ADA is currently at $0.6073.

Edited by Jonathan Stoker