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Cardano (ADA) Adds $2 Billion in 24 Hours Amid 62% Volume Surge.
Cardano (ADA) enthusiasts are rejoicing as the cryptocurrency witnessed an astonishing surge in price over the past 24 hours, adding a staggering $2 billion to its market value. The cryptocurrency market was taken by storm as ADA soared by over 12%, propelling its market cap to a whopping $18.88 billion.
The surge in price was accompanied by a
remarkable surge in trading volume, which
skyrocketed by an impressive 62% within
the same period. This surge in trading
activity has firmly established Cardano as one of the market leaders among the
largest cryptocurrencies in terms of returns
over the past day, ranking fifth in this
regard.
Cardano upsets bears.
Data provided by CoinGlass reveals a significant development in market dynamics, with ADA bears suffering a brutal blow. A total of 1.3 million liquidations were recorded with the Cardano token, of which a staggering 1.03 million were short positions - a clear indication of sellers' plight in the face of ADA's bullish momentum.
The increased trading activity on Cardano was anticipated, highlighting the heightened interest in ADA as early as yesterday. However, the extent of ADA's surge caught many off guard, particularly investors with bearish sentiments.
As of now, Cardano is trading at $0.53 per ADA, marking its highest value since the end of January. The burning question on everyone's mind is whether this momentum will sustain itself in the days to come.
While the future remains uncertain, there is no denying that ADA has undeniably seized the headlines today, leaving Cardano enthusiasts alike eagerly awaiting what the future holds for this dynamic cryptocurrency.
#Write2Earn
Cardano (ADA) enthusiasts are rejoicing as the cryptocurrency witnessed an astonishing surge in price over the past 24 hours, adding a staggering $2 billion to its market value. The cryptocurrency market was taken by storm as ADA soared by over 12%, propelling its market cap to a whopping $18.88 billion.
The surge in price was accompanied by a
remarkable surge in trading volume, which
skyrocketed by an impressive 62% within
the same period. This surge in trading
activity has firmly established Cardano as one of the market leaders among the
largest cryptocurrencies in terms of returns
over the past day, ranking fifth in this
regard.
Cardano upsets bears.
Data provided by CoinGlass reveals a significant development in market dynamics, with ADA bears suffering a brutal blow. A total of 1.3 million liquidations were recorded with the Cardano token, of which a staggering 1.03 million were short positions - a clear indication of sellers' plight in the face of ADA's bullish momentum.
The increased trading activity on Cardano was anticipated, highlighting the heightened interest in ADA as early as yesterday. However, the extent of ADA's surge caught many off guard, particularly investors with bearish sentiments.
As of now, Cardano is trading at $0.53 per ADA, marking its highest value since the end of January. The burning question on everyone's mind is whether this momentum will sustain itself in the days to come.
While the future remains uncertain, there is no denying that ADA has undeniably seized the headlines today, leaving Cardano enthusiasts alike eagerly awaiting what the future holds for this dynamic cryptocurrency.
#Write2Earn
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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