At the moment, almost all the main cryptocurrencies are doing wonderfully. All this thanks to bitcoin, which surprised crypto traders on October 24 with a spectacular increase of 20%. In this excitement, other altcoins are also experiencing happy days. This is the case of Cardano’s ADA crypto which is currently showing good performance.
The ADA is doing (very) well!
So far, no cryptocurrency comes close to SOL in terms of performance since bitcoin’s new ATH last week. The native crypto of Solana in fact gained +50% of its value in October and added an additional 6 billion dollars to its market cap.
“ Cardano made headlines on Thursday, its market capitalization increasing by +9% over the last 24 hours and now by 36% over 2 weeks. As usual, the activity, onchain gave a glimpse of this bullish action with ADA address activity and whale trading at their highest level in over 3 months. »
In a recent publication, Crypto Potato highlighted a 5% jump in the price of ADA over a period of 24 hours, 30% over two weeks.
You have certainly noticed the discrepancy between Santiment’s figures and the crypto media. But note that the latter borrowed these figures from CoinGecko, another crypto analysis platform. When we looked around, we decided on this price for ADA: $0.317281.
Why is ADA crypto on the rise right now? Some analysts put forward the following reasons:
- 23% increase in activity from ADA addresses during the last three weeks;
- increase in Cardano whale transactions valued at 32% over the same period;
- etc.
CoinTurk also mentioned an HODL of ADA over one year by 61% of traders in the eponymous crypto. In other words, these people did not part with their favorite altcoin in order to form a solid base of long-term investors for Cardano.
Note that blockchain currently has nearly 30% institutional crypto investors.
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