Cardano and Avalanche Emerge as the Top Performers of the Week

Cardano and Avalanche Emerge as the Top Performers of the Week 

Cardano and Avalanche have emerged as the top performers of the week. Market data reveals the rise of Avalanche and Cardano among the top 20 cryptocurrencies in terms of market capitalization, with substantial growth in the last week. Avalanche has surged 48.7% and Cardano by 50.4% against the US dollar in the last seven days.

Cardano and Avalanche Stand Out With Double-Digit Gains 

The 11,380 crypto assets listed across 940 crypto exchanges hold a collective valuation of USD 1.71 trillion. Bitcoin (BTC) was up 10.2% this week, and Ethereum (ETH) climbed 8.3% among the top 20 tokens. Cardano (ADA) and Avalanche (AVAX) stand out, with both registering double-digit gains against the US dollar.

Cardano (ADA) climbed 50.4%, reaching a high of 63 cents on December 9, 2023. ADA has moved up 60.4% over the past month and 89.1% in the last year against the dollar. Cardano is placed ninth among the top ten cryptocurrencies, with a market capitalization estimated at USD 20.75 billion. 

The 24-hour trading volume for ADA on the last day was about USD 1.39 billion. Although ADA has gained 89.1% during the year, it continues to be down by more than 80% from its all-time high of USD 3.09 per token recorded on September 2, 2023. It is trading at 59 cents per token and has moved a long way up by 2,964% from its rock bottom price of about 1.9 cents recorded three years ago.

Avalanche Gains 146.5 % Against the US Dollar Over the Past Year 

Avalanche (AVAX) has increased 48.7% against the dollar this week. It is placed in 11th place, with a market capitalization estimated at USD 12 billion. It is down from the recent high of USD 33.98 recorded on December 9, 2023, and is currently trading at USD 33.15. AVAX has seen significant growth over ADA during the 30-day timeline, registering a rise of 149%.

AVAX is up 146.5% against the dollar over the past year. It is down by more than 77% from its all-time high of USD 144.96 per token registered on November 21, 2021. However, AVAX is up 1,067% from its all-time low of USD 2.80 recorded on December 31, 2020. Avalanche has witnessed about USD 1.13 billion in global trading volume in the past 24 hours.

What is your take on the gains recorded by ADA and AVAX? Please share your thoughts and opinions about this subject in the comments section below.