News

Cardano (ADA) Price Skyrockets 30% On This

The Cardano (ADA) price has skyrocketed 30% as a slew of bullish factors invited traders back into the heavily sold token.
Published by
Cardano (ADA) Price Skyrockets 30% On This

The Cardano (ADA) price has skyrocketed 30% amid the market-wide recovery in the crypto space.

ADA has flipped XRP to become the 6th largest cryptocurrency as transaction volume jumped to 3 times those of Ethereum. In fact, several factors including prices hitting the bottom level, the Cardano-Ethereum USDC bridge, all-time high development activity on GitHub, and the upcoming Vasil Hard Fork in June have influenced the massive rally.

Advertisement

Cardano (ADA) Price Rebounds from bottom levels

The Cardano (ADA) price rose nearly 50% in the last 2 days, making a high of $0.67. The price bottomed out at the $0.45 level, bringing in investors and whales to buy the dip. Moreover, the number of transactions and total value locked (TVL) have increased enormously in the last two days. Thus, it is pushing prices to skyrocket. The number of NFTs minted on the Cardano network has now surpassed 5 million.

In fact, Cardano’s team has been working on numerous projects as prices continue to dip. The development activity on GitHub has hit an all-time high and the price jumped after a loss spike was witnessed on the Cardano network, reported Santiment in a tweet on May 31.

Cardano (ADA) Development Activity and Network Profit/Loss. Source: Santiment

“Cardano is one of many altcoins that have enjoyed a great start to the week, currently +13% in the past 24 hours. Development activity has hit All-Time High levels, as ADA‘s team worked on innovating while prices were suppressed.”

The launch of Iagon’s Cardano-Ethereum bridge for USDC has also brought hype to the crypto community. The second-largest stablecoin can now be migrated from Ethereum to the Cardano blockchain. It is a major interoperability milestone for Cardano. Support for other tokens will be introduced soon.

Advertisement

Community Awaits the Vasil Hard Fork

Cardano does not seem likely to stop making progress in its bid to attract more users to the network. The Cardano community is eagerly awaiting the launch of Vasil Hard Fork in June-end.

Charles Hoskinson claims more developers will switch to the blockchain once the hard fork is implemented. Thus, boosting the price of ADA as well as the total value locked (TVL) across various protocols.

Advertisement
Share
Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Michael Saylor’s Strategy Eyes S&P 500 Spot Amid Bitcoin-Backed Credit Products Launch

Michael Saylor’s Strategy is setting its sights on the S&P 500 as it pushes forward…

October 31, 2025
  • News

Bitcoin White Paper Turns 17 Today as Satoshi’s $120B Fortune Climbs $2.8 Billion

Seventeen years ago today, Satoshi Nakamoto emailed a nine-page document that changed the world. It…

October 31, 2025
  • News

Will Crypto Market Rebound or Crash Ahead as 10X Research Tips Shorting Ethereum?

Bitcoin, Ethereum, XRP, and other altcoins tumbled amid the latest crypto market crash. Over $1.2…

October 31, 2025
  • News

Sam Bankman-Fried Says FTX Was “Never Bankrupt,” Crypto Community Reacts

Sam Bankman-Fried (SBF) team on Friday revealed an estimated $136 billion in petition-date holdings of…

October 31, 2025
  • News

XRP ETF Coming This November 13 As Canary Capital Submits Updated S-1 By Removing Roadblocks

Asset manager Canary Capital has submitted an updated S-1 filing to bring its spot XRP…

October 31, 2025
  • News

Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch

Canary Funds has filed an updated S-1 registration for its XRP spot exchange-traded fund (ETF).…

October 31, 2025