Cardano price has seen a strong rally in the past 24 hours, reaching a high of $0.44 before stabilizing around $0.43. This price surge propels Cardano’s market cap past $15 billion, allowing ADA to surpass Tron (TRX) as the 10th-largest cryptocurrency.
Several factors appear to be driving ADA’s upward momentum. A primary influence is the overall bullish crypto market, which has gained traction since Donald Trump’s recent U.S. election victory. Bitcoin (BTC) achieved a new all-time high, topping $76,800, adding confidence to the market. Additionally, the Federal Reserve’s recent 0.25% interest rate cut may have contributed to the sector’s resurgence by making borrowing cheaper, potentially driving demand for risk-on assets like cryptocurrencies.
ADA’s gains align with positive on-chain indicators, including a notable increase in the “In the Money” metric, reflecting a 13% boost in profitable Cardano holders. Currently, 36% of ADA investors are in profit, contrasting sharply with August when profitability for ADA holders dropped to nearly zero as the asset fell below $0.30.
High-value transactions have also surged, with ADA transactions over $100,000 reaching $8.5 billion on November 8—a 13% increase within 24 hours. This growth suggests rising institutional interest, which could further support ADA’s price.
The market platform Santiment highlighted ADA’s momentum, hinting at potential “retail FOMO” (Fear of Missing Out) as more investors join the rally. FOMO buying can drive further price increases but often introduces volatility as early investors take profits, leading to rapid price shifts.
