Within 24 hours, ADA rose by 10.7%, briefly surpassing $1. In seven days, the accumulated increase reaches 26.8%, according to data from CoinGecko.
This progression propels ADA to the leading range among the 100 largest cryptocurrencies by market capitalization as of August 14. In a single session, no other major asset recorded such a significant rise. Throughout the week, ADA ranked fifth, only behind four other cryptos.
This increase occurred as Bitcoin reached a new all-time high of over $124,000, and Ethereum stands just 3.6% away from its all-time high. In this context, ADA also surpassed TRON (TRX) by Justin Sun, thereby reclaiming a spot in the top 10 cryptocurrencies by market capitalization.
An important event contributed to the activity in Cardano. This is the launch of the Glacier Drop. Indeed, Glacier Drop is a two-month airdrop that distributes NIGHT tokens across eight blockchains, including Cardano.
At the start of the operation, a software issue prevented Ledger wallet users from claiming tokens on Cardano. The Midnight Foundation quickly implemented a solution that allowed those users to participate normally.
Among the blockchains included in this airdrop, Cardano recorded the best weekly performance. Ethereum, in second place, advanced by 23.5% in the same period.
Additionally, in the global market, the evolution was more moderate. Outside of ADA and Ethereum, Solana gained 17.1%. Likewise, BNB advanced by 10.8% and Bitcoin by 3.9% during the week.