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Cardano, in recent times, has been enjoying massive buying pressure amid the record sell-offs sighted in other crypto assets like Bitcoin, Ethereum, and others.
The fast-rising valuable crypto asset has witnessed a fresh wave of buying sprees, seeing its price post near a new all-time high. This makes it the fourth-ranked crypto by market value.
- At the time of writing this publication, the bright shining crypto traded at $1.234007 up 20.12% on the day. It was the biggest one-day percentage gain since February 20.
- Such gains pushed Cardano’s market value to $37.2 billion or 2.17% of the total cryptocurrency market valuation. At its highest, Cardano’s market value stood at $41.6 billion.
- For the day, Cardano is between $1.001835 and $1.234091.
- For the week, Cardano has printed limited upside gains of 0.26%. The volume of Cardano traded for the day to the time of writing was about $5 billion or 3.74% of the total volume of all crypto assets.
The widely known crypto among retail investors recently achieved this after a hard fork called “Mary” on March 2.
This hard fork will permit crypto users to create tokens that can run on the same blockchain as Cardano’s native token, ADA. This now means Cardano shares close similarity with Ethereum, which had already allowed for the creation of new tokens on its blockchain.
Highly revered crypto analyst/trader, Michaël van de Poppe, also recommended the fast-rising crypto asset.
In a video (titled “Cardano Breaks $1 But $10 Is Possible In This Bull Cycle! Here’s Why!”) released recently, the crypto pundit told his followers on his YouTube channel:
“Cardano going towards $10 is not that weird to calculate from here, especially given the fact, and I’ve been saying this in the past week multiple times, especially given the fact that Cardano and mostly all the Bitcoin pairs are just barely waking up. So there’s still much more to gain for the Bitcoin pairs.
“Lately, Cardano (ADA) has been tipped to outperform, on the bias that it had its smart contract launch last month, which will lead to a significant amount of applications built on Cardano in 2021.”
This means that more developers will see it as an attractive medium for building their desired apps.