- Cardano ADA enters bullish rally moving by up by 16% within a few hours.
- How long will the bullish wave in the price of Cardano ADA last?
Cardano News Today – The price of Cardano ADA failed to meet all the expectations and predictions that were made last year. Ahead of the Cardano Shelley update and Cardano staking, predictions revealed that the price of the ADA token will rise significantly after the Cardano Shelley update was completed. Unfortunately, this didn’t happen. While the price of the token surged a few months before the Shelley incentivized testnet, it started falling again. Apart from the fact that the bearish pressure in the market contributed to the fall, many Cardano investors sold their tokens because they are not certain of what will happen after the Cardano Shelley upgrade.
Cardano News Today – Cardano Price Surges Against The USD Making The Community Members Excited
This morning, according to Cardano News Today, the price of Cardano ADA surged by more than 16% against the USD. As the price started to rise, the Cardano community rejoiced to anticipate a bullish wave. Even if the Cardano ADA coin didn’t do as well as expected last year, it has managed to reclaim the 10th position on CoinMarketCap after losing it in the bearish market last year. This is probably due to the strong community effort, Cardano staking, adoption efforts by the Cardano Foundation, and positive feedback from Weiss. A while ago, Weiss released a report revealing that Cardano is better than EOS as a decentralized blockchain.
As the price of Cardano ADA started to rise, this morning, or surged by more than 16%. At the time of writing, it was trading at $0.051617 indicating a 15.62% rise against the USD and a 10 34% rise against the price of Bitcoin BTC. This is the most significant surge that Cardano has seen this year. The trading volume is about $166,389,663 while the market capitalization is $1,338,283,457. While the price of Cardano ADA is now higher than it was at the beginning of January, it is important to note that it’s still far from its all-time high of $1.23. The token has struggled between $0.7 and $0.4 for several months forming what appears to be an uneven flatline on the price charts.
Cardano (ADA) Price Today – ADA / USD
As the price of Cardano ADA started to surge, traders in the cryptocurrency community suggested that the token has entered a new bullish cycle which is going to last for a long time. The fact that Cardano is outperforming Bitcoin BTC is amazing and it’s only a matter of time until other altcoins join making the start of the long-awaited altcoin season. However, given the nature of the cryptocurrency industry, it’s difficult to determine how long the price surge will last.