Looking at the current prices of many cryptocurrencies, most investors should not be very happy. Not only Bitcoin (-1.5%) or Ethereum (-3.5%) have had to take a beating in the last 24 hours. Projects such as Solana (SOL), Terra (LUNA) or Avalanche (AVAX) have also all lost between six and seven percentage points. Cardano (ADA), however, is unimpressed by the current trend.

For a long time, things did not look good for ADA, the native cryptocurrency of the Cardano blockchain. While an all-time high of $3.10 had been set on September 2, the Ethereum competitor fell by up to 60% in the coming weeks and months. While such price movements are not unusual in the cryptocurrency sector, the price performance still made some ADA investors doubt its potential as direct competitors such as Solana, Polkadot, and Avalanche set new highs. Cardano even dropped from 3rd place among the most valuable cryptocurrencies to 7th place in the process.

Due to a price increase of ten percent within the last 24 hours and an overall very strong weekly performance (+35%), Cardano is back in 5th place among the most valuable cryptocurrencies with a price of $1.53 and an associated market capitalization of around $51 billion by a relatively large margin.