The price of ADA, the native cryptocurrency of the Cardano blockchain, surged to a daily high of $1.56 on Monday, its highest point since December 27, according to CoinGecko.
Since then, the token has slightly backtracked, changing hands at $1.54 by press time. It is, however, still up 8.2% over the day, and an impressive 30.4% in the last week.
With a market capitalization of just over $49 billion, Cardano is currently the industry’s fifth-most valuable network.
The price action follows a flurry of activity around the blockchain, including the launch of Pavia, the first-ever metaverse project in the Cardano ecosystem.
