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In a surprising turn of events, Cardano (ADA) is experiencing an extraordinary surge in its price performance, marking its best December in the seven years since its inception.
Within the first eight days of December 2023, ADA soared by an impressive 39%, reaching a peak value of $0.53.
This surge places ADA at its highest valuation since September 2022, but the distinction lies in the fact that, this time, the token is breaking records with a significant upward trajectory, illustrated by a substantial green candle on its price chart.
Analyzing the historical price data provided by CryptoRank's infographic, the last time Cardano exhibited such remarkable December performance was in 2017, when ADA closed the month with an astounding gain of 517.1%.
Such a feat seems almost unimaginable in the current crypto market landscape, particularly for a well-established asset like Cardano.
Quarter of year
If ADA can sustain its current price momentum throughout December, it is poised to conclude the fourth quarter of 2023 with a remarkable gain of 105.4%.
This would not only be a celebratory note for Cardano enthusiasts but could also mark the most successful quarter for ADA since the first quarter of 2021, when it achieved an outstanding three-month price performance equivalent to a 558.7% gain.
Undoubtedly, Cardano has become one of the most captivating assets on the crypto market, drawing attention as investors eagerly anticipate whether the current bullish trend will persist or if a surprising disappointment awaits them.
The ongoing festival of green candles for ADA has positioned it as a standout performer among the major cryptocurrencies, creating an air of anticipation for what lies ahead in the coming weeks.