2021-08-11 09:49:43

Cardano (ADA) Explodes 20% As Crypto Marker Cap Eyes $2T (Market Watch)

Following another dip below $45,000, bitcoin has bounced off and reclaimed $46,000. Most altcoins, though, have outperformed their leader. The most evident example comes from Cardano (ADA), which has surged by 20% in the past 24 hours.

ADA Explodes 20% as ETH Reclaims $3.2K

The alternative coins’ performance has been rather impressive in the past several days. Ethereum is up by 30% on a weekly scale after it went through the London Hard Fork. In the past 24 hours alone, ETH went above $3,200 and spiked to a new multi-month high of over $3,240.

Further gain are evident from Dogecoin (3%), Polkadot (4%), Uniswap (2.5%), Solana (5%), Litecoin (4%), Bitcoin Cash (3.5%), and Chainlink (6%).

Binance Coin is also well in the green (9%) after new listings in the innovation zones. As a result, BNB has neared $400 for the first time in months.

However, Cardano is the most impressive performer from the top ten. ADA has surged by roughly 20% in a day and currently stands at $1.77 – the highest price tag since June 4th.

This comes amid Charles Hoskinson’s revelation that the team will announce the smart contract launch this Friday.

Cryptocurrency Market Overview. Source: Quantify Crypto


The top 100 coins have a new representative in the face of IoTeX (IOTX). The asset has skyrocketed by 175% in a day and 340% in a week to $0.086.

Axie Infinity (62%), Ravencoin (33%), Holo (30%), Helium (25%), Flow (15%), Terra (15%), Kusama (14%), IOTA (13%), and Polygon (10%) complete the double-digit price pump club.

Ultimately, the cumulative market cap of all crypto assets is up by $60 billion in a day and has increased above $1.9 trillion for the first time since May.

Bitcoin Back Above $46K

The primary cryptocurrency has also enjoyed the past several days after it reclaimed $40,000 during the weekend. It went to a high of $46,800 yesterday, which became the highest price line in over two months, but retraced rather quickly amid the taxation developments in the US.

In fact, it dropped to around $44,600, but the bulls regained control immediately and pushed it north again. In the following hours, BTC added more than $1,500 of value and exceeded $46,500 again.

As of now, though, bitcoin has corrected slightly again but still stands above $46,000. Its market cap is again north of $850 billion, but the dominance has declined by 1% in a day as the altcoins have jumped hard.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

empty message

empty message

empty message

empty message

empty message