Cardano: Why ADA remains far from profitable despite the 25% value surge

January 9, 2023

By Abiodun Oladokun

The surge in Cardano’s [ADA] trading volume in the last 24 hours pushed the price of the layer 1 coin to its mid-November levels, data from Santiment revealed.

Trading at $0.331 at press time, ADA exchanged hands at a price index last seen on 14 November. Furthermore, ADA tokens worth $824.41 million traded in the last 24 hours. This was the altcoin’s daily trading volume and was its highest position in the last two months.

Following a tumultuous close to the 2022 trading year, the year so far has been marked by a general recovery in the cryptocurrency ecosystem. This could be considered in the form of a growing market capitalization. 

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