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Wednesday, January 19, 2022

Cardano Reaches A Record High of $2.20

After a week of intense volatility, Cardano has finally reached its all-time high of $2.20- as it went past the previous high of $2. The cryptocurrency had previously reached a high just a week ago. Yet, the comments from Tesla Head Elon Musk about the depletion of fossil fuels in mining and transacting cryptocurrency led to a major sell-off in the market. As a result, ADA reached a weekly low amount of $1.50 before it went off to its rally of an all-time high. 

Currently, Cardano is standing over a point about $2- which is an impressive increase of 25% from the previous week. The cryptocurrency had already hit its previous high just eight days back- after which it went back to see a few more days of reaching its peak. 

More Bullishness Expected For Cardano

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Benjamin Cowen, an analyst for Cryptocurrency recently came up with a tweet where he asked which cryptocurrency would be the third entrant in the $200 billion market capitalization. Quite surprisingly, Cardano was chosen by most of them, with the XRP, DOGE, and BNB hovering close by. With around 10,000 votes, ADA had around 57% of the votes of this poll. 

Peter Brandt, one of the most popular traders in crypto and forex had also tweeted the price target necessary for Cardano- where the trader had speculated that the ADA price should definitely hit the value of $2.26- if his speculations were correct. As it stands, they were correct. 

Cardano has recently come up with a notification that they would be bringing out the Alonzo hard fork in Ma. This will see that the roadmap of the cryptocurrency for the Goguen era completely filled. 

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