Alongside an overall bullish sentiment for the crypto market as a whole, Cardano (ADA) is up a remarkable 75% in just two weeks. Indeed, the token has risen over the last 14 days to currently trade for $0.63, and a 3% increase in the last 24 hours alone.
The overall global market cap for the entire digital asset sector has reached an astonishing $1.7 trillion this year. Subsequently, Bitcoin has exceeded the $44,000 mark for the first time in a year. Altogether, the market seems to be on an upward trajectory, and it is benefitting the ADA token exponentially.
Also Read: Cardano TVL Eyes $450M As ADA Surges 46%
Cardano Rally’s Over 70% in Just 14 Days
2023 has certainly been a positive year for the digital asset sector. Amid the hype surrounding a potential Spot Bitcoin ETF, and traditional finance’s involvement, assets across the board are seemingly thriving. Although 2024 could be poised to continue the momentum, one token has noted an astronomical jump over the last 14 days.
Specifically, Cardano (ADA) is up an impressive 75% over the last two weeks. Moreover, that increase is closely connected to an overall bullish perspective of the digital asset industry as a whole. Both due to the promising prospects for it in 2024, and the overall health that it is exhibiting right now.
Also Read: Cardano (ADA) Rally Sees $1.5B Surge in Whale Transactions
The on-chain metrics for the token show a stark upswing in both the total value locked, and the overall transaction volume. Additionally, IntoTheBlock data that a notable 56% of Cadano investors are currently holding those tokens in profit. Moreover, the figure for large-scale transactions has continued to show positive signs for its performance.
The same data shows that there are nearly $44 billion worth of large-scale transactions taking place over the last seven days alone. Additionally, figures denote a .78 correlation with Bitcoin (BTC) alongside a 34% concentration for large-scale holders. Altogether, the data shows a promising continuation for the asset alongside the greater digital asset market as we arrive at 2023’s end.