Autor: dot-traders

Veröffentlicht am

Cardano (ADA) jumps by over 25%: here are the reasons why ADA is rallying

The Cardano (ADA) price has rallied by over 20% today bringing relief to traders and investors after weeks of crypto market clash gloom. ADA has surpassed XRP after its transaction volume jumped 3 times those of Ethereum to become the 6th largest crypto by market cap.

At the time of writing, ADA was trading $0.6347, up 21.41% after retracing from a daily high of $0.6823.

ADA price surge has been influenced by the following factors: ADA Price Rebounding from the bottom levels, GitHub development activity Lagon’s Cardono-Ethereum bridge launch for USDC, and Vasil Hard Fork launch.

ADA Price Rebounding from the bottom levels

ADA price rebound from a bottom level of $0.45 to a high of $0.68 brought whales and investors to purchase the dip. Additionally, the total value locked (TVL) and the number of transactions also increased pushing the price rally.

GitHub development activity

As the prices continued the dip, the Cardano team continued working on several innovative projects. GitHub development activity hit an all-time high causing the price to rally after a loss was witnessed on the Cardano network in the past weeks.

Yesterday Santiment tweeted:

“Cardano is one of many altcoins that have enjoyed a great start to the week, currently +13% in the past 24 hours. Development activity has hit All-Time High levels, as ADA‘s team worked on innovating while prices were suppressed.”

Lagon’s Cardono-Ethereum bridge launch for USDC

Another reason for the rally is the launch of lagon’s Cardano-Ethereum bridge that will enable the second-largest stablecoin (USDC) to be moved from the Ethereum blockchain to the Cardano blockchain. This is a great interoperability milestone for Cardano as the team also aims at introducing other tokens.

Vasil Hard Fork launch

As Cardano continues to make progressive moves and attract more users to its network, the Cardano community is eagerly waiting for the launch of Vasil Hard Fork, an upgrade to the Cardano network, at the end of June.

Charles Hoskinson, the founder of Cardano blockchain, said that once the hard fork is implemented, more developers will shift to the Cardano blockchain and this will cause the price of ADA to rally.

The post Cardano (ADA) jumps by over 25%: here are the reasons why ADA is rallying appeared first on CoinJournal.

Veröffentlicht am

Highlights May 31: Bitcoin breaks out, crypto market higher

The crypto market was higher this morning, with the majority of top 10 cryptos registering gains.

Top cryptos

Bitcoin was up around 4% at time of writing, trading above $31,000. Ethereum climbed around 6%, and XRP registered gains of around 5%. Cardano showed the most significant gains, jumping around 25% as the Vasil hard fork approaches. 

Top movers

Most top 100 coins were in the green at the time of writing. Notable standouts were Waves, Axie Infinity, and Aave with gains of 57%, 24%, and 14% respectively.   

Waves has been rallying after announcing its master plan to restore full functioning of its ecosystem’s DeFi Protocols. This was disrupted due to an ecosystem liquidity crisis caused by Vires Finance, a Waves-based lending protocol. 

According to a current promotion, it’s possible to earn big with Axie Infinity Original. 

Yesterday, Yahoo Finance reported that London-based cryptocurrency payments firm Merge raised a $9.5 million seed round led by Octopus Ventures. 

Among the investors were Coinbase Ventures, the founders of Aave, Alameda Research, Hashed, the founders of Polygon, and the CEO of Ledger. 

On the losing end, Tezos is down around 4% and Elrond and ApeCoin are both down around 3%.     

Trending

The biggest trender today is the token of The Realm Defenders, a Free to Play & Play to Earn RPG strategy game running on Polygon. In the game, you defend your kingdom against demons. 

You can upgrade characters and trade heroes on an NFT marketplace. You can earn rewards in the native TRD token, which gained 261% today, and unique NFT cards. There are also treasure chests and monthly boss fights.

The post Highlights May 31: Bitcoin breaks out, crypto market higher appeared first on CoinJournal.