At the beginning of the week, Cardano (ADA), which approached the lowest price levels of the past year, started to rise again as the leading cryptocurrency Bitcoin surpassed $26,500. ADA recorded a 1.5% increase in value in the last 24 hours and started trading at $0.25 levels.
What is the Current Situation of Cardano (ADA)?
ADA, the native cryptocurrency of the Cardano blockchain, witnessed a striking decline at the beginning of the week. Along with the value losses recorded at the beginning of the week, ADA approached the lowest price levels of the past year and fell to $0.23 levels. In addition to the value losses in Cardano (ADA), critical metrics also experienced significant declines. The TVL amount of the Cardano blockchain has seen double-digit declines in the last month.
However, the rise of the leading cryptocurrency Bitcoin above $26,500 throughout the week caused the cryptocurrency market to rise again. Despite the inflation data in the US coming in higher than expected, the cryptocurrency market continued to rise.
Cardano (ADA) also started to rise again as BTC surpassed $26,500. ADA, which approached the lowest levels of the past year at the beginning of the week, started the day with an increase and reached critical resistance levels again.
ADA Surpasses $0.25 Levels
With the rise of the leading cryptocurrency Bitcoin to $26,600 levels, the cryptocurrency market started the day with an increase. Cardano (ADA), which has a market value of $8.8 billion, also accelerated the value increases throughout the day.
Cardano (ADA) started trading at $0.25 levels, recording a 1.7% increase in the last 24 hours. With its recent value increases, ADA surpassed $0.25 levels and approached the $0.26-0.28 resistance level significantly. After the rises recorded throughout the day, Cardano’s (ADA) total market value also increased by $200 million within hours.
