A digital currency that upsets the scales, topples the adults, 3 green signs By Investing.com


Investing.com – Not that it is the biggest gainer during those Sunday trading moments among the major cryptocurrencies, but the best among the big cryptocurrencies.

The Cardano coin got three green marks with distinction, strong daily rises, excellent weekly performance, and monthly rise despite the strikes of China and the United States.

3 green marks

Cardano rises during those moments of trading on Sunday by more than 11% at levels of $1.65.

While Cardano increased by more than 30% during the trading days of the past 7 days, while it increased by more than 21% during the trading days.

However, Cardano is still far from the May 16th peak when it reached all-time highs above $2.3 per coin.

Cardano increased from its lowest level during 2021 at a price of $ 0.178 to levels of $2.35, an increase of 1220%.

the third

Cardano was not satisfied with being the only one among the major cryptocurrencies that achieved 3 green marks this May.

Indeed, the coin, which is one of the betting knights for crypto bulls and among the most prominent black horses, succeeded in toppling the Binance Coin.

The Binance Coin rose to become the third largest digital currency by market capitalization, with a capital approaching $100 billion.

However, with the accumulation of losses following Elon Musk’s tweets and the attack of China and the United States on the digital currency market and other central banks.

The market value of Binance Coin has fallen to levels near $50 billion, specifically $51 billion.

While Cardano has a market capitalization of around $52.5 billion, it ranks third among cryptocurrencies.

Despite now rising about 2% and rising in a week by 33%, Binance Coin, which is trading at $333 levels, is still down more than 46% in thirty days.

Expectations

In early May, FX Street cryptocurrency analyst Sheldon McIntyre said the cryptocurrency price chart is pointing to a new high soon.

Less optimistic forecasts are that the ADA could rise to $2.24 or $2,275, both targets preceded by the 161.8% Fibonacci Extension.

But in a more optimistic scenario, McIntyre believes that investors could see the cryptocurrency rise 75% from the current price to $2.96.

Cryptocurrency expert Lark Davis said on Twitter that he expects Cardanon to launch after the launch of the smart contract in August.

Lark Davis added that users will likely see the price double in the lead-up to the event.

Catalysts

Cardano was launched in 2015 by former Ethereum co-founder Charles Hoskinson.

It is an open source public blockchain platform, and after years of development, the project started to revive in 2021 with several partnerships and milestones.

This May, Cardano celebrated its growing presence in Africa, announcing several partnerships in neighboring countries.

Cardano has partnered with the Ethiopian Ministry of Education to create blockchain-based identification systems.

It announced its partnership with Tanzania to provide access to social, digital and financial services across its network.

The cryptocurrency has been adopted by many organizations, adding Coinbase Cardano trading platform on their platform.

Coinbase said Cardano has a flexible, sustainable design and is one of the most scalable blockchain platforms.

Simplex also allowed direct purchases using Cardano, with Kraken listing the Cardano token for betting with a return of up to 6%.

The article does not express a recommendation or nomination, but merely a monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.

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