Cardano ADA Eyes Double Digit Gains as it Enters the Green in 2024

Cardano ADA has witnessed a surge in trading volume over the last 24 hours, seeing it enter the green at the start of 2024. Cardano token’s key turnover metric has experienced an impressive 49.07% increase, soaring to $631.41 million, according to CoinGlass.

ADA has been on the rise since mid-December 2023, so the continued growth in 2024 isn’t a shock. In recent weeks, ADA has had intermittent spikes of an additional 50% in price. Furthermore, trading volumes have skyrocketed from the usual $120 million to $400 million, and the coin has surged by over 180% in three months.

The growing volumes of ADA suggest mounting liquidity and sustained interest in the token. Cardano’s current levels of trading activity have not been witnessed in ADA since the summer of 2022. According to CoinGlass data, the Cardano token is displaying signs of accumulation on its price chart, reminiscent of a pattern observed in November, when the token traded flat for 23 days before experiencing a 75% growth spurt.

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Investors in Cardano are watching the activity of ADA over the next few days, observing if the price will continue to surge. At press time, Cardano ADA is trading at $0.6073, according to CoinMarketCap.