CandleFocus Cardano (ADA) decouples from the altcoin pack, nearly matching its 8-month high
2024-11-20
Author: Content Editor
Cardano's native digital asset ADA has surged by over 40% in the last seven days and 6% in the last 24 hours, standing out among other altcoins. This price movement is attributed to increased whale activity and transaction volume. ADA is currently in the ninth position on CoinMarketCap's list and its trading volume is $2.2 billion, with a market capitalization of $57.2 billion. Data from Santiment shows that ADA's price has decoupled from other altcoins and is nearing an 8-month high. Transaction volume and whale activity have also reached highs not seen since June. Charles Hoskinson, founder of Cardano, hinted at the possibility of working with Ripple to add DeFi components to XRP and increase liquidity. Hoskinson also announced plans to collaborate with regulators to shape crypto policies in the U.S. and criticized the SEC for its lack of clear regulations and aggression towards certain crypto ecosystems.
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