Cardano (ADA) has made a strong comeback, reaching a 14-week high after surging double digits in a day. 📈
- In the past 24 hours, the price of ADA has increased by about 20%, surpassing $0.44, the highest since July. Currently, ADA is trading around $0.43 with a market capitalization over $15 billion, surpassing Tron (TRX) to become the 10th largest cryptocurrency.
- The overall market is on an upward trend, which may be a driving factor behind ADA's recovery. The Federal Reserve's decision to cut interest rates by 0.25% may also contribute to this revival.
- On-chain indicators show positive signals, with 36% of ADA investors currently in profit. The large trading volume reached $8.5 billion on November 8, a 13% increase in 24 hours.
- The Santiment platform predicts a likelihood of FOMO emergence, as many investors fear missing out on the opportunity, which could drive asset values up significantly. However, this may also lead to significant price volatility. 🚀