Cardano Defies Market Slump, Surges 18% in Weeklong Rally

• Cardano (ADA) rallied 18% in the past week, bucking the crypto market downturn.
• ADA is currently trading at $0.3559, up 2.2% in the last 24 hours.
• ADA’s 24-hour trading volume increased by 56.48% to over $323 million.

Cardano (ADA) has bucked the broader crypto market downturn over the last week, rallying 18%. At press time, ADA was trading at $0.3559, up 2.2% in the last 24 hours. Besides a drop to $0.288 on November 1, the asset has seen a sustained uptrend over the past month, recovering losses across key metrics like profitability.

According to CoinMarketCap, ADA’s 24-hour trading volume has surged 56.48% to over $323 million, indicating growing capital inflows from both retail and institutional investors. Whale ADA accumulations have notably aligned with those of Bitcoin and Ethereum over the last quarter.

Cardano ecosystem expanded significantly

Beyond price, Cardano’s ecosystem has expanded significantly this year with new products like privacy protocol Midnight, which promises to play a key role in Web3 systems. Rumors of an upcoming midnight (DUST) airdrop for ADA holders point to further ecosystem activity.

With positive technical and fundamental factors aligned, Cardano looks poised to close November on a bullish note for the first time in three years. However, sustaining upside momentum remains contingent on broader crypto market conditions.

Still, Cardano’s recent resilience shows the project’s ongoing development continues to attract investor interest during periods of volatility. With more ecosystem launches ahead, ADA seems well-positioned to capitalize on any broader crypto recovery.