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.
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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.