Cardano’s native cryptocurrency ADA has seen a significant surge in market activity, with daily trading volume nearing $900 million for six straight days according to data from CoinGecko. In the last 24-hour period, volume reached $824.8 million, pushing the asset’s market capitalization to $10 billion. This increased activity coincides with the Cardano blockchain processing over 119 million mainnet transactions and a recent 2% price increase, though ADA remains below the $0.30 mark.
Cardano’s ADA has recorded close to $900 million in daily trading volume for six consecutive days, according to data from CoinGecko. Early this week, the daily trading volume stood at a record high of $990 million.
“The trading volume of Cardano (ADA) is $824,844,856 in the last 24 hours, representing a 3.00% increase from one day ago and signalling a recent rise in market activity,” wrote Coingecko. This robust buying and selling activity led to its market cap touching $10 billion this month.
The surge made ADA turn green on Thursday as it spiked by 2% in the charts. It moved from a low of $0.266 to a high of $0.284 in a few hours.
On the heels of this heightened trading activity, the Cardano blockchain completed processing over 119 million mainnet transactions on Thursday. This occurred after the eUTxO model update, which made the blockchain more efficient.
While many of these are positive developments, ADA is yet to pick up significant steam from them. The 2% surge is minimal and can be generated even on a normal trading day.
