CandleFocus Cardano (ADA) Sees Sudden Surge in Trading Activity, What Happened?
2024-09-08
Author: Content Editor
Cardano is currently experiencing a surge in address activity, along with other cryptocurrencies like Quant and Holo. This historically indicates the potential for a price bounce in the near future. Despite the recent implementation of the Chang hard fork and the anticipation of decentralized governance, Cardano has not seen a significant price increase. It currently falls outside the top 10 cryptocurrencies and is lagging behind others like Dogecoin and Tron. Bitcoin maximalists have pointed out Cardano's underperformance, and it now only represents a small fraction of Bitcoin's total market cap. Since its peak in 2021, ADA has dropped nearly 90%.
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