Cardano (ADA) is experiencing its strongest price surge in two years, with the token surpassing the $1 mark.
ADA, the native token of the Cardano blockchain, made a significant price breakthrough today, crossing the $1 threshold for the first time in two years.
As of this writing, ADA continues its strong upward momentum, with the token’s price increasing by over 27% in the past 24 hours, reaching $1.1. Trading volume has also surged by 130% during the same period.
Experts suggest that with rising buying pressure and positive impacts from the overall cryptocurrency market, this price rally could likely continue in the short term.
Cardano Holders Begin to See Profits
The rise in Cardano’s price above $1 has brought profits to many investors holding the token. According to IntoTheBlock’s Global In/Out of the Money indicator, 3.15 million addresses, accounting for 71% of all ADA holders, are currently recording positive profits.
Conversely, 715,230 addresses, representing 16% of ADA holders, are still incurring losses if they were to sell at the current price. Most of these investors acquired their tokens when ADA was trading above $1.4.
