Market statistics indicate that two specific crypto assets among the top 20 in market capitalization, avalanche and cardano, have experienced substantial gains this past week. Avalanche has surged 48.7% and cardano has increased by 50.4% against the U.S. dollar in the previous seven days.
Top Performers of the Week: Cardano and Avalanche Record Substantial Rises
Currently, the 11,380 crypto assets listed on 940 crypto exchanges hold a collective value of $1.71 trillion. Among the top 20 tokens, bitcoin (BTC) rose 10.2% this week, and ethereum (ETH) saw an 8.3% increase. It was cardano (ADA) and avalanche (AVAX) that stood out, as both coins recorded double-digit gains against the U.S. dollar.
ADA is up 50.4% after reaching a high of 63 cents on Dec. 9, 2023. Over the past month, ADA has climbed 60.4%, and in the last year, the token has increased 89.1% against the dollar. Cardano’s market capitalization is approximately $20.75 billion, placing it ninth among the top ten cryptocurrencies.
In the last day, ADA has seen $1.39 billion in 24-hour trade volume. While ADA is up 89.1% for the year, the crypto asset is still down more than 80% from its all-time high. On Sept. 2, 2021, it reached $3.09 per coin, and today, it is trading at 59 cents per unit. Cardano is up 2,964% from its price of about 1.9 cents recorded three years ago.
Avalanche (AVAX) has increased 48.7% against the dollar this week, and with a market capitalization of $12 billion, it is the 11th largest crypto asset in terms of overall valuation. It is down from the recent high of $33.98 recorded on Dec. 9, 2023, currently exchanging hands at $33.15 per AVAX. The crypto asset has seen significantly larger gains than ADA over a 30-day timeline, jumping 149%.
Over the past year, AVAX is up 146.5% against the dollar. Meanwhile, AVAX is still down more than 77% from its all-time high price recorded on Nov. 21, 2021. At that time, AVAX was trading at $144.96 per unit. AVAX is up 1,067% from its all-time low of $2.80 on Dec. 31, 2020. In the past 24 hours, avalanche has seen around $1.13 billion in global trading volume.
What do you think about the gains ADA and AVAX have seen? Share your thoughts and opinions about this subject in the comments section below.
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