Cardano News Today – Here’s Why Cardano ADA Price Spiked By 16% Yesterday 

  • Cardano ADA Price Moved Up by 16% Yesterday After Breaking a Key Ascending Trendline 
  • Will PwC Use Cardano ADA With The New Partnership?  

Cardano News Today – In our Cardano News Update yesterday, we talked about how the price of Cardano ADA moved up by 16% against the USD and over 10% against the price of Bitcoin within a few hours. This price surge was amazing and it brought back hope to the Cardano community. Since the price of Cardano ADA has fallen significantly over the last two years irrespective of the Cardano Shelley upgrade and Cardano staking, the daily gain was a breath of fresh air. Analysts believe that the Cardano ADA Price surge has paved the way for significant recovery for the rest of the year.

Cardano Price Prediction – The 16% Surge In The Price of Cardano ADA is Just the Beginning

As the price of Cardano ADA increased yesterday, Bitcoin was lagging. ADA surged by more than 10% against BTC reaching 588 sats. This is the highest high the ADA/BTC trading pair has experienced in the last 8 months. The surge pushed the pair closer to the long term technical resistance level that has kept ADA and BTC in an overstretched consolidation period.

The rise in the price of Cardano ADA came shortly after its CEO Charles Hoskinson announced that Cardano was partnering with PwC. PwC is one of the top professional services firms in the world with a global valuation of $42.4 billion. Per his announcement, this partnership will allow PwC to use the Cardano blockchain to execute its services which range from tax, insurance, and consulting for 420 Fortune 500 companies. It’s not a surprise that this Cardano News led to a surge in the price of the Cardano ADA token.

Cardano News Today – Will PwC Use Cardano ADA?

It’s important to note that the partnership doesn’t involve direct use of the Cardano ADA token. However, the fact that the company is interested in the Cardano blockchain alone is going to lead to an increase in exposure for the ADA token. This is what got the community excited and led to a surge in the price of Cardano ADA. By the end of the day yesterday, the price of Cardano ADA had gained by 13.75% within 24 hours.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.111

At the time of writing, the price of Cardano ADA was correcting lower but still green. It was $0.055507. This indicates an 8.24% rise against the USD and 5.78% against the price of Bitcoin BTC. The trading volume over a 24 hour period is $232,215,675 and the market capitalization is $1,439,129,003. The technical indicators show that the price of the Cardano ADA is going to keep moving upward.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

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