Cardano (ADA) hits 3-week high amid flurry of activity

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.

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