Monday, March 20, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News ADA

What’s Making Cardano (ADA) Price Rally Over The Likes Of Dogecoin & XRP?

news by news
January 4, 2023
in ADA, ADA price analysis, Altcoin News, Cardano (ADA), News
0
What’s Making Cardano (ADA) Price Rally Over The Likes Of Dogecoin & XRP?
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Arbitrum Futures Trading Is Live On BitMEX, Hints At $ARB Listing Price?

Breaking: Republic Of China Announces Crypto Regulatory Body

Cardano (ADA) Price

In terms of value, the cryptocurrency market as a whole, including Cardano (ADA), had a turbulent year in 2022. However, in the past twenty-four hours, the trade volume for ADA has reached around $250 million, while the Cardano (ADA) price has increased by almost 7% in a day. This is mostly attributable to the purchase of enormous quantities of ADA by whales as well as the project attracting the majority of development activity last year.

Cardano (ADA) Price Soars

The price of Cardano’s native token, ADA, has finally risen from a two-year low of $0.24, where it arrived after a prolonged four-week slide. ADA recovered a little over a third of its value in January of the new year after losing more than 25% of its value at the start of December 2022.

It’s possible that the expansion of the Cardano DeFi ecosystem was responsible for some of the positive movements in the price of ADA. According to data provided by DeFiLlama, Total Value Locked (TVL) has increased from its previous low point of $48.95 million on January 1 to its current level of $52.53 million.

Massive Whale Activity

The participation of larger ADA investors could be another factor contributing to the price increase. According to the statistics provided by WhaleStats, large BSC whales also have a significant interest in purchasing Cardano (ADA) tokens.

The 4,000 largest BSC whale purchases in the previous 24 hours have been attributed to ADA purchases, and therefore ranks within the top 10 list of mass whale activities. In addition, the top BSC whales have a combined total of 19.9 million ADA in their wallets, which is equivalent to $5.19 million at the current market price and accounts for 0.68% of the total supply.

JUST IN: $ADA @CardanoStiftung now on top 10 purchased tokens among 4000 biggest #BSC whales in the last 24hrs ?

Peep the top 100 whales here: https://t.co/CnPsLVmRmh

(and hodl $BBW to see data for the top 4000!)#ADA #whalestats #babywhale #BBW pic.twitter.com/3GdW9PeU5T

— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 4, 2023

Cardano With Most Dev Activity

According to a report that was published by Santiment, a behavior analysis platform, Cardano ranked as the most active protocol in terms of the development activity. This was followed by Polkadot (DOT) and Cosmos (ATOM), which were ranked as the second and third most active protocols, respectively.

Read More: Coinbase Exchange To Pay $100 Million Fine In New York

Given that the development activity rates in Cardano’s public GitHub repositories in November were 18% higher than those of the next-ranked asset, which recorded 572.67 produced events, the most recent data are a confirmation of its prior performance.

As things stand, the Cardano (ADA) price is currently being traded at $0.28. This represents an increase of 0.2% in the past 1 hour, in contrast to a whopping 7.3% during the last 24 hours as per crypto market tracker CoinMarketCap.

Also Read: Top 10 DeFi Lending Platforms In 2023

The post What’s Making Cardano (ADA) Price Rally Over The Likes Of Dogecoin & XRP? appeared first on CoinGape.

Related Posts

Arbitrum Futures Trading Is Live On BitMEX, Hints At $ARB Listing Price?
24/7 Cryptocurrency News

Arbitrum Futures Trading Is Live On BitMEX, Hints At $ARB Listing Price?

March 20, 2023
Breaking: Republic Of China Announces Crypto Regulatory Body
24/7 Cryptocurrency News

Breaking: Republic Of China Announces Crypto Regulatory Body

March 20, 2023
Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason
24/7 Cryptocurrency News

Just-In: Bitcoin Ready To Hit $1 Million; Arthur Hayes Bullish Over This Reason

March 20, 2023
Bitcoin Rallies As UBS Group Acquires Troubled Lender Credit Suisse In $3.2 Billion Deal
24/7 Cryptocurrency News

Bitcoin Rallies As UBS Group Acquires Troubled Lender Credit Suisse In $3.2 Billion Deal

March 20, 2023
Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?
24/7 Cryptocurrency News

Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?

March 20, 2023
Breaking: Credit Suisse (CS) Gets $1 Billion Buyout Offer From UBS; But There’s A Catch
24/7 Cryptocurrency News

Breaking: Credit Suisse (CS) Gets $1 Billion Buyout Offer From UBS; But There’s A Catch

March 19, 2023
Next Post
Polygon-Based Streaming App Partners With Samsung To Empower Web3 Users

Polygon-Based Streaming App Partners With Samsung To Empower Web3 Users

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

Shiba Inu Burn Rate Skyrockets Ahead Of Shibarium Launch This Week

Shiba Inu Burn Rate Skyrockets Ahead Of Shibarium Launch This Week

March 9, 2023
Crypto News Live Updates Dec 29: Crypto Market Remains Under $800 Billion; Bitcoin Stays At $16.5K

Crypto News Live Updates Dec 29: Crypto Market Remains Under $800 Billion; Bitcoin Stays At $16.5K

December 29, 2022
The Pokemon Company Sues Aussie Studio Over Fake NFTs

The Pokemon Company Sues Aussie Studio Over Fake NFTs

December 22, 2022
Hedera Onboards Top Coinbase Official To Drive Growth; HBAR Price Poised For Bull Run?

Hedera Onboards Top Coinbase Official To Drive Growth; HBAR Price Poised For Bull Run?

March 1, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In