Cardano (ADA) Surpasses Dogecoin After 55% Surge

TL;DR

Cardano's ADA token experienced a dramatic price surge, jumping from $0.65 to nearly $1 in minutes, fueled by news surrounding a potential US crypto reserve. This propelled ADA to become the eighth-largest cryptocurrency by market capitalization, surpassing Dogecoin.

ADAUSD. Source: TradingView

Following a recent market downturn that saw ADA fall from over $0.82 to under $0.60 (a roughly 30% drop), the token rebounded to $0.65 during a weekend market rally. However, a significant price increase occurred following President Trump's announcement of a potential US crypto reserve, reportedly including XRP, SOL, and ADA. While XRP and SOL saw gains of 15-20%, ADA surged by an impressive 55%, reaching its highest price point in over a month. This surge boosted ADA's market capitalization to over $35 billion, surpassing Dogecoin to claim the eighth position among cryptocurrencies.

The post Cardano (ADA) Surpasses Dogecoin After 55% Surge appeared first on CryptoPotato.