Cardano (ADA) Rides Bullish Momentum Amid Recent Developments

Altcoin News

• ADA price is now surging to new highs as on-chain activity picks up steam.
• ADA pricing is anticipating a positive surge over the next several days.

Crypto market capitalization is quickly reaching the $2 trillion milestones, thanks to 24 hours 8.15 percent rise. Bitcoin and Ethereum, the two most valuable cryptocurrencies, are up 9.31% and 10.50%, respectively, on the last day. For the last six months, Cardano has been in a negative trend, and the community’s primary attention has been on it.

Cardano’s price is now surging to new highs as on-chain activity picks up steam. To put it another way, the current price movement of ADA compared to its daily transaction volume might be a positive indication for the cryptocurrency as per crypto exchange Kraken.

Bullish Momentum Over Next Few Days

There is a positive divergence between ADA’s price and transaction volume at this time. “Buy the hype, sell the news” was the summary of the report.

ADA/USDT: Source: TradingView

On the 17th of January, the ADA price was rejected at $1.59 and plunged to $1.05. As the demand for altcoins grows, the price has risen to $1.10, generating daily earnings of 5.50 percent. A breakthrough over $1.49 would mean that the cryptocurrency price will quickly rise to $2.

Read More: Cardano Price Prediction

Cardano’s pricing is anticipating a positive surge over the next several days. A new milestone has been added to the list: 3 million wallets. As a result, ADA has high expectations for the future. According to CoinMarketCap, the Cardano price today is $1.16 USD with a 24-hour trading volume of $1,534,030,294 USD. Cardano is up 9.08% in the last 24 hours.

IOG, the firm behind Cardano blockchains development, announced that it plans to increase the block size of the Cardano blockchain by 11 percent to improve its scalability.