The cryptocurrency Cardano rises again as the ADA cryptocurrency recovers and is above the $0.084 mark with a new rally of 9%. The recent surge comes after the market-wide drop and shows that ADA is one of the best performing coins in the latest cryptocurrencies news.
While on Monday the price of Bitcoin sliced through $10,000, it later fell and has been trying to regain those levels ever since. Bitcoin is now trading at $9,600 while Cardano rises again and ADA went on to post even higher gains, being one of the coins that is now unaffected by the drop a few days ago.
Following the upswing of Cardano (ADA), some of the most prominent analysts in the industry said that the increasing rift between the US and China could propel BTC towards a new all-time high. However, we can safely say that the Bitcoin news for now are not that interesting – instead, Cardano is one of the coins to watch out for because of its newly high.
The so-called “Ethereum killer” named Cardano rises again and was able to recover from the bearish impulse quickly. This buying pressure behind it seems to be fueled by speculation about a major protocol upgrade that is scheduled to occur by the end of this month.
Regardless of the hype around this token, some on-chain metrics suggest that it is poised to retrace. The current picture shows that the ADA cryptocurrency is going upwards without a stop. Ever since the peak of May 31 when it rose to a new yearly high at $0.087, the on-chain volume appears to have leveled off. Since then, the metric has experienced a steady decline even though Cardano rises again and ADA is now consolidating between $0.080 and $0.090.
An image from LunarCrush via Santiment shows how this looks like in the rising curve of the coin.
Along these same lines, we can see that the chatter about Cardano (ADA) across all social network platforms is plummeting, according to the crypto insights provider LunarCRUSH. The firm even recorded a series of spikes on the fundamental metric which transitioned into lower highs.
The ADA cryptocurrency recovers and the Cardano news soon might show new gains by the end of the day.
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