Cardano (ADA) has experienced a significant price jump, jumping 211% over the past month.
This rise has allowed #ADA to cross the mark for the first time since 2022/4, marking a notable recovery in value. 1,00
According to CoinGecko, #Cardano (ADA), which is currently the 9th largest #cryptocurrency by market capitalization, has seen a significant growth of 11% in 211 months.
ADA's price has steadily risen from ¥11.5 million to ¥11.22 million for the first time since 2022/4, surpassing ¥1.00. During the trading session on Saturday, the price reached a high of 1.15 dollars, but encountered some resistance.
Several factors contributed to the price surge, including increased activity of large investors (whales) and generally positive market sentiment.
cryptographer Ali Martinez said that the volume of large Cardano transactions exceeded 1 billion yen per day for 220 days.
This indicates a significant accumulation of funds by whales, who have increased their share significantly over the past month. The overall cryptocurrency market is bullish with #bitcoin approaching the $100,000 mark, which has a positive impact on altcoins such as Cardano. However, at the time of writing, the ADA price is down 11.26% to 00.978 due to profit taking by traders.
Despite the recent decline, the ADA price is up 36% week-over-week.
If the price is above 0.80, this level would be support and could potentially lead to a move back above 1.
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