Cardano
Why Cardano Price Jumped 17% After Breaking Resistance
Published
2 weeks agoon
By
adminCardano (ADA) price has emerged as a top performer in the latest crypto market surge, recording over 17% growth within 24 hours. This significant price increase aligns with gains seen across various cryptocurrencies, reflecting renewed interest and positive momentum in the crypto space. With ADA breaking key resistance levels, the altcoin shows potential for continued upward movement, signaling a favorable outlook in the evolving digital currency landscape.
Cardano Price Surges 17% After Breaking Key Resistance Level
The latest ADA price has surged 17% in the last 24 hours, reaching $0.4236 and hitting a four-month high. This jump followed a broader market rally, with Cardano rebounding over 23% in the past week after breaking through a multi-month downtrend. The crypto market gained momentum after Donald Trump’s victory in the 2024 U.S. presidential election, fueling optimism across digital assets.
Bitcoin, leading the charge, set a new all-time high of $76,943 on November 7, while Ethereum also rose above $2,900. Cardano’s strong performance highlights renewed investor interest, pushing it past key resistance levels and outperforming other top crypto markets in recent gains.
Address Activity and Whale Transactions Fueling the Surge
Data reveals that Cardano has hit notable milestones during this surge. A record-breaking 37,892 unique ADA addresses engaged in transfers in a single day, marking the highest address activity since early September.
Furthermore, substantial transactions of $100,000 or more reached 697 on the same day, indicating intensified activity from large investors, or “whales,” the highest count since early September.
The latest rally has pushed Cardano above the $0.43 mark for the first time since July, a promising sign for ADA enthusiasts. This sustained increase in address activity and whale transactions suggests heightened market confidence, with potential FOMO building among retail investors. As Cardano rides this bullish wave, the community watches closely to see if the momentum will continue.
🚀 Cardano has been one of the notable surprise altcoins taking flight during this crypto-wide pump. Now up over +25% in the past 3 days, we may be seeing some retail FOMO coming soon. This has been a long time coming for the patient ADA community. pic.twitter.com/Ph2ZFFKnIU
— Santiment (@santimentfeed) November 8, 2024
Analyst Eyes 100% Upside for ADA Price
Crypto analyst recently hinted at a promising potential for an ADA price surge. According to his analysis, ADA could witness a 100% upward movement, suggesting a major breakout is on the horizon. The analyst highlights a prolonged period of price consolidation, with ADA forming a consistent descending trendline.
Breaking this trendline could pave the way for significant gains, possibly doubling ADA’s current value. Technical indicators hint at a shift in momentum, adding weight to the analyst’s forecast. The volume profile also shows increased buying interest, indicating rising investor confidence.
#ADA: Watch out, 100% move possible. #Cardano pic.twitter.com/79qUqfAxnV
— Mind Trader (@mindandtrading) November 8, 2024
Cardano’s recent breakout, record address activity, and rising interest from major investors create a strong case for its growth. The top coin could maintain its momentum with favorable market conditions and potentially approach $1 soon.
Frequently Asked Questions (FAQs)
Cardano surged after breaking resistance and amid a crypto market rally.
Increased whale activity, high address engagement, and breaking resistance fueled it.
It indicates rising user engagement, which boosts confidence and interest in ADA.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
You may like
Jason "Spaceboi" Lowery's Bitcoin "Thesis" Is Incoherent Gibberish
Bankrupt Crypto Exchange FTX Set To Begin Paying Creditors and Customers in Early 2025, Says CEO
Top crypto traders’ picks for explosive growth by 2025
3 Tokens Ready to 100x After XRP ETF Gets Approval
Gary Gensler’s Departure Is No Triumph For Bitcoin
Magic Eden Token Airdrop Date Set as Pre-Market Value Hits $562 Million
24/7 Cryptocurrency News
Cardano (ADA) Whale Activity Jumps 145%, Mega Rally to $6 Ahead?
Published
2 days agoon
November 20, 2024By
adminThe Cardano (ADA) price has been outperforming the rest of the crypto market today with more than 12% gains while extending the rally to $0.83. This comes amid a staggering 145% surge in the Cardano whale accumulation over the past month. Over the last week, ADA has gained nearly 54% being among the top-performing altcoins, with investors soon eyeing a rally to the crucial milestone of $1.0.
Cardano (ADA) Whale Accumulation Triggers Price Rally?
Crypto analyst Ali Martinez pointed out a significant surge in the Cardano whale activity and accumulation. This shows growing confidence in Cardano’s native token ADA. According to Martinez, wallets holding over $10 million worth of ADA have increased their positions by an impressive 145.72% over the past month.
Furthermore, the Cardano blockchain has also witnessed a healthy uptick in decentralized finance (DeFi) activity on the network. Cardano’s Total Value Locked (TVL) has surged to $479.8 million, approaching its all-time high as the blockchain continues to gain traction, as per the data from DeFiLlama.
This growth comes amid ADA’s rising price and increased activity across decentralized exchanges (DEXes), lending platforms, and other protocols within the Cardano ecosystem. The momentum underscores the expanding utility and adoption of Cardano’s DeFi infrastructure.
This surge in the DeFi activity along with bullish Cardano on-chain metrics shows that the ADA price rally can continue further from here.
Is ADA Preparing for a Mega Rally to $6?
Blockchain analytics platform Santiment reported that ADA is already decoupling from the altcoin pack with the price approaching an 8-month high. The ADA-to-Bitcoin price ratio is also nearing an 8-month peak, reflecting growing strength against the leading cryptocurrency. Santiment noted that current ADA transaction and whale activity levels were last observed in June, just before a 26% surge in the ADA/BTC pair.
As of press time, the ADA price is trading at $0.786 with a market cap of $27.54 billion and daily trading volume surging by 25% to $2.27 billion.
On the other hand, crypto analyst Ali Martinez noted that the Cardano price is showing very similar patterns to the 2020 bull run. Sharing a chart earlier in November, he showed that ADA could be heading for a 2000% rally all the way to $6 while hitting a new ADA all-time high. Martinez wrote:
“I believe Cardano is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025”.
On the other hand, Cardano founder Charles Hoskinson is putting some focus on their partnership with XRP. Hoskinson recently engaged in a technical exchange with Ripple CTO David Schwartz, capturing the blockchain community’s attention.
The conversation delved into Midnight, Cardano’s privacy-focused blockchain initiative, and XRP, Ripple’s digital asset, sparking excitement about potential collaborations ahead.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Bitcoin
From Smuggling Gold Out of Africa to Bridging Bitcoin and Cardano
Published
4 weeks agoon
October 27, 2024By
adminA longtime regular on the crypto scene, Sovryn and BitcoinOS founder Edan Yago learned the importance of financial sovereignty at an early age.
Source link
24/7 Cryptocurrency News
Cardano founder Charles Hoskinson Has Change of Heart for Bitcoin, Here’s Why
Published
4 weeks agoon
October 26, 2024By
adminCardano founder Charles Hoskinson recently had a change of heart about Bitcoin and believes that the BTC DeFi market will be bigger than the Solana and Ethereum markets in the future. His recent comments come nearly two months after Hoskinson said that “we don’t necessary need Bitcoin” and “I don’t see how Bitcoin survives”. But what’s causing this change of heart for Hoskinson? Probably, it’s the recent integration of the Cardano blockchain with the BTC blockchain.
Cardano founder Charles Hoskinson Turns Bullish on Bitcoin
In a groundbreaking integration a day before, the Cardano blockchain joined the Bitcoin network as a BitcoinOS Grail bridge. This move will open the decentralized finance (DeFi) market for the world’s largest asset class.
Following this development, Hoskinson said that he would re-launch the Bitcoin Education Project in 2025. Additionally, he plans to introduce Aiken education for BTC developers with key resources hosted on GitHub’s Hyperledger Identus repository.
Furthermore, Charles Hoskinson shared that with the implementation of Babel fees, BTC developers will be able to create hybrid Cardano-Bitcoin applications using Aiken and pay transaction fees in Bitcoin.
The Cardano founder said that this marks the beginning of DeFi on Bitcoin, and believes that it could surpass the achievements of both Solana and Ethereum in the future.
From BTC Bashing to Praising
Two months before, the Cardano founder created a major uproar in the crypto industry while criticizing BTC’s role in the industry. In a video that surfaced on social media, Hoskinson said that the crypto sector no longer needs BTC. Interestingly, he also believes that Cardano can flip Bitcoin and Ethereum in the long run.
“Bitcoin needs the industry to survive… But the industry doesn’t need Bitcoin anymore. I just don’t see how that survives. It’s a religion, its not an ecosystem. So no, we don’t necessary need Bitcoin,” he said.
However, what Hoskinson was particularly pointing out is that BTC needs to adapt to change, or else it could lose the first-movers advantage. Now that Bitcoin is taking a move further towards DeFi, Hoskinson seems to be excited again about the BTC ecosystem growth.
The Cardano founder has been also sharing his opinion on the recent political developments in the US. Earlier this week, he slammed Kamala Harris for calling Donald Trump Hitler.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Jason "Spaceboi" Lowery's Bitcoin "Thesis" Is Incoherent Gibberish
Bankrupt Crypto Exchange FTX Set To Begin Paying Creditors and Customers in Early 2025, Says CEO
Top crypto traders’ picks for explosive growth by 2025
3 Tokens Ready to 100x After XRP ETF Gets Approval
Gary Gensler’s Departure Is No Triumph For Bitcoin
Magic Eden Token Airdrop Date Set as Pre-Market Value Hits $562 Million
Blockchain Association urges Trump to prioritize crypto during first 100 days
Pi Network Coin Price Surges As Key Deadline Nears
How Viable Are BitVM Based Pegs?
UK Government to Draft a Regulatory Framework for Crypto, Stablecoins, Staking in Early 2025
Bitcoin Cash eyes 18% rally
Rare Shiba Inu Price Patterns Hint SHIB Could Double Soon
The Bitcoin Pi Cycle Top Indicator: How to Accurately Time Market Cycle Peaks
Bitcoin Breakout At $93,257 Barrier Fuels Bullish Optimism
Bitcoin Approaches $100K; Retail Investors Stay Steady
182267361726451435
Top Crypto News Headlines of The Week
Why Did Trump Change His Mind on Bitcoin?
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Washington financial watchdog warns of scam involving fake crypto ‘professors’
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Trending
- 2 months ago
182267361726451435
- 24/7 Cryptocurrency News3 months ago
Top Crypto News Headlines of The Week
- Donald Trump4 months ago
Why Did Trump Change His Mind on Bitcoin?
- News3 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Bitcoin4 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion4 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Price analysis3 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
- Bitcoin4 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
✓ Share: