Cardano and Avalanche Soar, Outperforming Top 20 Cryptos in Weekly Surge

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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