Fans of Cardano (ADA) may celebrate since this February was the most significant performance of the native cryptocurrency of the blockchain platform since 2021. ADA surged impressively. ADA’s price surged by a startling 25% due to the overall momentum in the cryptocurrency market.
This spike was accompanied by an amazing upward trend in the whole cryptocurrency space. The price of the most popular cryptocurrency, Bitcoin, has increased by an astounding 33.3% since the beginning of February and is currently trading at $57,000. Another big contender, Ethereum, had a huge increase as well, rising by 42.8% and breaking beyond the $3,000 mark once more.
According to the Total 3 index, the altcoin market as a whole grew by 21%, which added to a roughly $100 billion gain in total capitalization. Of this growth, ADA received a hefty $4.8 billion.
March has much more potential for Cardano going ahead. According to historical statistics, ADA has had particularly good growth in the first two months of spring, with percentages of 18.9% and 13.3% in 2022 and 2023, respectively. Forecasts for March indicate a less muted picture, with average and median ADA returns of 0.02% and 2.25%, respectively. Nevertheless, this still represents a good historical trend.
Investors are expecting big things from Cardano in March, and they are waiting impatiently for those things to happen. With ADA fans closely monitoring the direction of their prized coin, the stage is set for another exciting month in the cryptocurrency markets.
