- Cardano has climbed the charts to reach another milestone this year after breaking the $ 1 mark for the second time in its history. Cardano had risen to an all-time high of $ 1.40 in the first week of January 2018. However, since the beginning of February, the crypto asset has grown by an incredible 200%. It caught upward momentum in 2021.
Cardano has climbed the charts to reach another milestone this year after breaking the $ 1 mark for the second time in its history. Cardano had risen to an all-time high of $ 1.40 in the first week of January 2018. However, since the beginning of February, the crypto asset has grown by an incredible 200%. It caught upward momentum in 2021.
At the time of writing, ADA was priced at $ 1.1, with the cryptocurrency over the $ 1 mark, with a 15.5% increase in 2 hours.
Note here that developers continue to integrate new updates into ADA’s ecosystem.
Cardano outshines other altcoins after Mary hard fork
ADA, which dropped XRP from the top 4 on the charts, is approaching the blockchain Goguen era after the Input Output Hong Kong (IOHK) team announced the “Mary” update. Therefore, it experienced a lot of upward momentum.
After the implementation of the “Mary” hard fork, developers will be able to create user-defined local tokens that can be used in the Cardano network. Additionally, other projects will be able to migrate to the ADA blockchain and highlight the interoperability layer across multiple chains.
Binance exchange, acting according to the community’s interest and price discretion, has also launched Cardano staking services on its platform, and users will be able to earn up to 24.79% annual interest according to the announcement.
Increasing interest for ADA, DNA Brands Inc. It was also highlighted by the fact that Santo Blockchain Labs is planning to move from Ethereum to Cardano. On February 9, the company announced that it moved to Cardano for better “economic and technical benefits.”
What do the signals on the chain say?
Cardano’s bullish momentum was highlighted by a series of on-chain signals. For example, Cardano’s Net Network Growth was showing signs of bullishness at 5.51%, according to IntoTheBlock.
The metric “tracks the change based on the previous week’s total addresses and optimizes the thresholds that are considered rise or fall by the nature of each asset.”
While Cardano’s Daily Active Addresses continue to increase compared to the crypto-analytics platform, 100% of crypto asset holders are making money at the current price level.
What is after the $ 1 high?
Considering it is worth less than $ 0.20 at the beginning of 2021, a value of $ 1 per ADA sounds staggering. However, the all-time high stays ahead of Cardano and the likelihood of a new ATH has likely increased after the current bullish rally.
Cardano could rise to over $ 1.40 before the end of the first quarter of 2021. The altcoin season will play a big factor here, with other crypto assets collectively keeping the bullish momentum alive in the market.