Swiss cryptocurrency Cardano (ADA) witnessed a price surge of nearly 100 percent in seven days in early February 2021, amid high interest from investors. One reason for this interest is the digital coin's close relation to Ethereum (ETH), as mathematician Charles Hoskinson co-founded both virtual currencies. Also, like Ethereum, ADA has an open-source format, meaning anybody can develop this currency further. As of March 25, 2025, one ADA token was worth 0.75 U.S. dollars.

The market cap of Cardano (ADA) nearly doubled in nine days in February 2021, amidst a growing buying activity from investors during this time. Cardano stood out due to its close relation to Ethereum, as well as a detailed transaction history in its ledger - potentially making this digital coin more secure than others. Compared to both the Bitcoin market capitalization, as well as the Ethereum market cap, Cardano was not as popular.

The price of Cardano was especially volatile in May 2021 and peaked again in August 2021, although figures declined by more than half since then. The third-generation cryptocurrency gained heavily during those two months due to increasing popularity of NFTs - Cardano is an alternative to Ethereum, the most-used blockchain for NFTs and Decentralized Finance (DeFi). Measured in a metric called volatility, the percentage shown here reflects how much the price of Cardano in U.S. dollars changed historically over a preceding 10-day window. Changes can be either up or down, with a higher volatility reflecting that an asset is more risky, as price movements are less easy to predict and can swing in any direction.

By November 2021, over 33 billion Cardano tokens were issued and in active circulation - getting closer to the coin's maximum supply. Similar to Bitcoin but unlike Ethereum, the ADA token has a fixed supply limit with only 45 billion cryptocurrencies being able to ever exist in the coin's lifetime. Whilst this does not necessarily mean the Cardano price will go up, a limited supply could help to fuel demand whilst the tokens are still generally available.

Analysis of ‘Cardano Data’ provided by Analyst-2 (analyst-2.ai), based on source dataset retrieved from https://www.kaggle.com/varpit94/cardano-data on 13 November 2021.

--- Dataset description provided by original source is as follows ---

What is Cardano?

Cardano is a public blockchain platform. It is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, Ada. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson. The development of the project is overseen and supervised by the Cardano Foundation based in Zug, Switzerland. It is also the largest cryptocurrency to use a proof-of-stake blockchain, which is seen as a greener alternative to proof-of-work protocols.

Data Description

This dataset provides the history of daily prices of Cardano. The data starts from 01-Oct-2017. All the column descriptions are provided. Currency is USD.

--- Original source retains full ownership of the source dataset ---