Cardano is up 17%, ending a streak of weak price action

On November 9, Cardano (ADA) ended its streak of weak price action by surging 17%. ADA coin went up from $2.10 to above $2.30.

The price jump comes after Cardano remained in the dark for almost 2 months. On November 9, Cardano finally shone again, adding 17% over the past 24 hours, according to CoinMarketCap.

The native digital currency of the proof-of-stake (PoS) blockchain is currently outperforming some of the biggest cryptocurrencies, surpassing Tether (USDT) and Solana (SOL) to settle for the 4th largest crypto by market cap.

While the 2 largest cryptos in the space, Bitcoin (BTC) and Ether (ETH) hit new all-time highs of $68,641 and $4,857, respectively on November 9, Cardano still has more than 23% to go before hitting its previous record high of $3.09 on September 2.

Despite its much-hyped smart contracts roll out in early September, Cardano momentum started to wane shortly after the new feature went live.