TL;DR
- Cardano’s native token is using the Trump-induced wave like no different, with an enormous value surge that pushed it from $0.65 to nearly $1 inside minutes.
- This helped it turn into the eighth-largest cryptocurrency by market cap, surpassing the OG meme coin.
Cardano’s native token took the current market-wide crash worse than many tokens, as its value dumped from over $0.82 to underneath $0.6, which meant a 30% decline inside every week or so.
It defended the $0.6 help and jumped to $0.65 throughout the weekend as all the market noticed a reduction rally.
Nevertheless, the panorama modified about an hour in the past when US President Trump confirmed the much-anticipated information a couple of crypto reserve within the States. Furthermore, he named three cryptocurrencies that might be included in it – XRP, SOL, and ADA.
Maybe this comes as no shock, given that every one the entities behind the tokens are based mostly within the US. SOL and XRP shot up impressively by about 15-20% every, however ADA stole the present with an enormous 55% surge that pushed it to simply inches away from the coveted $1 stage.
This grew to become its highest value stage in over a month, because it spent all the February beneath that line. Moreover, it helped ADA rise within the prime 10 rankings, because the asset is now the eighth-largest, with a market cap of over $35 billion.
Cardano’s token surpassed the most important and oldest meme coin – Dogecoin, whose market cap stays beneath $32.5 billion.
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