Cardano soars 30% on a weekly basis with its impressive run continuing on a daily scale while Bitcoin remains stable at $42,000 as we are reading more in our latest Cardano ADA news.
After the unsuccessful attempt to overcome the $44,000 price range, BTC retraced once again and dipped below $43,000 with most other altcoins being in the red on a daily scale while Cardano continues to make some impressive gains following the double-digit surge. Ahead of the weekend, the primary cryptocurrency dropped to a $2000 to a low below $42,000 after failing to reclaim $44,000 so the bears were trying to bring some more pain as the bulls came out to play next.
In just a few hours, they drove the asset north to above $43,000 over the weekend and the landscape seemed even more positive on Sunday morning with a huge jump to just shy of $44,000. As it happened during the previous few attempts to overcome the line but BTC failed. It dropped by a few thousand dollars and remained below $43,000. While Cardano soars 30% on a weekly basis, Ethereum mimicked BTC’s performance to a larger extent including a $3000 dip on Monday. In the next few days, the second biggest crypto jumped by more than $400 before the sentiment brought it south once again.
In the past 24 hours alone, ETH dropped by 1.6% and it now stands around $3250. The Majority of the larger-cap altcoins are in a similar situation and Binance Coin even dropped by 2.3% and Ripple dropped by 2%, Polkadot dropped by 4.5%, Avalanche dropped by 4.5% and SHIB dropped by 4%. Dogecoin declined even more gains by 6.5% and DOGE continued its downtrend since the Friday hype when Tesla enabled payments with the meme coin for the products. In contrast, Cardano made some strong gains. ADA has been on a roll in the past week as it increased by 30% while on a daily scale ADA increased by 13% and stands above $1.5. Despite the major decline, the crypto market remained above $2 trillion.
As we saw a few days back, The bears came to play and didn’t have further increases. The BTC price started to lose value and dumped by $2500 In a few hours which resulted in breaking below the $42,000 for the third time in less than a week. The asset reacted well at this point and increased by over $1000 to reclaim $43,000 but then it dipped below that line once more in the next few hours before it started another leg up which resulted in near the $44,000 price level but to no avail.
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