TL;DR

• Cardano’s price soared to as high as $1.17, with market cap surpassing $40 billion amid bullish network indicators.
• 73% of ADA investors are now in profit, a sharp recovery from August’s lows when the majority of the token’s holders were underwater.

ADA Heads North

The cryptocurrency market experienced a notable recovery in the past 24 hours, with multiple leading digital assets charting impressive gains. Bitcoin (BTC), for instance, jumped above $100,000 again, while Ethereum (ETH) is inching toward the $4K level. 

Cardano’s ADA is also one of the best performers, with its price pumping by almost 15% on a daily scale. At one point, the valuation reached $1.17 before stabilizing at its current $1.14 (per CoinGecko’s data). Meanwhile, ADA’s market capitalization surged above $40 billion, solidifying the asset’s presence among the top 10 biggest cryptocurrencies.

Its most recent resurgence aligns with three bullish indicators. The first one is “Net Network Growth,” which, according to IntoTheBlock, has risen by 0.26% daily. The platform explains that the metric is a momentum signal “that gives a pulse of the true growth of the token’s underlying network.”

Next on the list is “Concentration” (an indicator that measures daily changes in the positions of whales