Cardano Price Hits One-Month High on Market Cap Surge

Cardano's price has reached a one-month high of $0.195, driven by a significant increase in its market capitalization over the past week.

The ADA token saw its market cap rise 24% during this period, despite a decline in the number of non-empty ADA wallets over the last two months.

This trend suggests that larger investors are absorbing supply while retail participation remains subdued, supporting the rally in Cardano's price.

Ongoing ecosystem developments, including Leios testnet progress and Hydra scaling upgrades, are also contributing to the uptick in the cryptocurrency's value.