Cardano has just broken a strong critical support level of $0.15 amid a buying spree seen by crypto investors, thereby pushing ADA in gaining 10% for the day.
- Cardano was trading at $0.169425 01:11 GMT on Thursday, up 10.08% in the last 24 hours. It was Cardano’s largest one-day percentage surge since Nov. 28.
- Impressive gains seen lately in Cardano pushed its market capitalization up to $5.2 Billion or 0.84% of the total cryptocurrency market value. At its highest, Cardano’s market value stood at $23.9 Billion.
- In the past one week, Cardano has appreciated by 13.63%. The volume of Cardano traded in for the day to the time of writing this publication was $990million or 0.54% of the total volume of all crypto market. Cardano traded in a range of $0.1349 to $0.1706 in the past one week.
- However, at the present price, Cardano has lost about 87.45% from its all-time high of $1.35 set on January 4, 2018.
What this means
Cardano (ADA) lately has been tipped to outperform on the bias that it’s headed towards its smart contract launch last month, leading to a significant amount of applications built on Cardano by this time 2021. This means that more developers will see it as an attractive medium for building their desired apps.
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What you should know
- Cardano is a type of blockchain that permits people to receive and send funds.
- ADA coin is the name is the cryptocurrency.
- It uses the Cardano blockchain and it also allows people to design smart contracts just like Ethereum.