Daily trading volumes with Cardano exceeded 100%

According to CoinGlass, the trading volume with the native Cardano blockchain token ADA $0.81 Cardano -0.85% Market capitalization $28.87 billion VOL. 24 hours $0.38 billion exceeded 100% per day. The surge in trading activity with the cryptocurrency has led to the total turnover of the coin exceeding $ 900 million.

According to the analytical tracker CoinMarketCap, on January 9, ADA showed an increase of almost 8% and traded at $ 0.53. The total amount of coins circulating on the market is $ 18.8 billion. Traders made daily trading deals worth $ 597.6 million.

The increase in trading volume coincides with a noticeable movement in the price of ADA. Over the past 24 hours, ADA has experienced a significant drop of 10.88%, reaching its lowest value since early December at $ 0.4643. However, the token quickly bounced back, recovering most of its losses.

As Cardano’s trading volume has increased sharply and the ADA price is showing signs of recovery, market participants are closely monitoring the situation.

Two months ago, crypto experts predicted that the Cardano digital token would grow by 10,000% - the most bullish ADA forecast was made by an analyst known as FieryTrading. In his opinion, the token could soar to $ 35 over the next two years (most likely in 2025).