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Cardano (ADA) is riding a bullish wave in the wake of recent developments.
As on-chain activity ramps up, the price of ADA is rising to new highs.
ADA pricing anticipates a strong climb in the next days.
The cryptocurrency market capitalization is rapidly approaching the $2 trillion threshold, due to an 8.15 percent increase in 24 hours. The two most valued cryptocurrencies, Bitcoin and Ethereum, are up 9.31 percent and 10.50 percent, respectively, in the previous day. Cardano has been on a downward trend for the previous six months, and the community’s major focus has been on it.
Cardano’s price is now rising to new highs as on-chain activity accelerates. To put it another way, according to crypto exchange Kraken, the present price movement of ADA in relation to its daily transaction volume may be a bullish indicator for the cryptocurrency.
Bullish Momentum in the Coming Days
At the moment, there is a favorable divergence between the price of ADA and the amount of transactions. The report’s summary was “Buy the hype, sell the news.”
On January 17th, the ADA pricing was rejected at $1.59 and fell to $1.05. As demand for cryptocurrencies develops, the price has climbed to $1.10, yielding 5.50 percent daily profits. If the Bitcoin price breaks…
