Cardano (ADA), the ninth-largest digital currency by valuation, saw a notable uptick in November, showing more than a 200% increase in value over the previous 30 days.
As a result of this increase, Cardano's market capitalization tripled and, for the very first time ever since April 2022, surpassed $1.00. On November 5, the cryptocurrency started to rise, and on November 22, it hit $1, an achievement it hadn't reached in years.
Why Cardano (ADA) Is Moving Higher?
There are a number of reasons for the recent surge in Cardano's price, including increased whale activity and optimistic market sentiment.
The network's daily amount of huge Cardano trades topped $22 billion, indicating substantial institutional and whale engagement. High buildup levels are associated with such large dealings; in the last month, whales holding $1 million to more than $10 million in ADA increased their holdings by over 100 per cent.
With more than 2,600 days of continuous operation, the Cardano (ADA) distributed ledger has achieved a noteworthy milestone. This milestone distinguishes Cardano and sets a high standard for blockchain stability.
