Here's Why Cardano's Token Is Jumping Today

Cardano's (CRYPTO: ADA) ADA token is gaining ground amid rebound momentum for the broader cryptocurrency market. ADA was up roughly 7.3% over the previous 24 hours as of 3 p.m. ET.  Bitcoin was up roughly 5.6%, while Ethereum's ether token had climbed 6.5%.

The cryptocurrency market got hit hard last week as investors focused on the emergence of a new coronavirus variant dubbed omicron, but market sentiment appears to be shifting again. Many major crypto tokens are posting big gains on Monday, and Cardano's ADA token is participating in the pricing rebound. 

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Source Fool.com