Cardano is giving the surprise so far this year.
Hello friends, after more than two years of falling non-stop, reaching levels that very few thought we could reach and when many already considered it dead, Cardano has surprised us again in the last two days.
Ada has managed to recover a very important growth trend with a brutal increase of no more and no less than 50% in 48 hours, data that has once again brought excitement to Ada holders and has also brought up the question of whether The price of cardano could recover the dollar again and gradually approach historical highs.
Cardano explodes again more than 27 months have passed since last September 2, 2021 with all the fomo created by the arrival of smart contracts ADA managed to exceed $3 marking a new all-time high and since then the price of ADA has We have lived through two quite complicated years for this project in which the feeling of uncertainty and fear has predominated among many investors who saw how the arrival of the updates barely had an impact and the price did not stop falling.
However, the recent rise in bitcoin, along with the expectations that the imminent arrival of the first bitcoin spot ETF has begun to cause, has caused altcoins to take off again this week and one of the main protagonists has been Cardano, which after a few years complicated with the price plummeting through the floor, but the legal battle against the SEC and also gaining a large number of hate has finally reawakened.
If we take a look at CoinMarketCap in the last 7 days the price of ADA has risen a whopping 50% to reach $0.59 this occurred mainly from December 7 shortly after bitcoin rose to its 2023 maximum and in which less than 48 hours the price of Ada went from $0.43 to touch its maximum point of 0.64 prices that we had not seen for more than 17 months specifically since the beginning of June 2022 and which have accumulated almost 90% growth so far this year.
So it is not the first time we see this with cardano, in fact during its first bullish cycle the price of fairy went from being worth just over $1 in January 2018 to plummeting more than 98% to $0.02 cents a few months later a drop very tough and very similar to what we have seen in this bear market, which, like now, caused many holders to throw in the towel, leaving Ada for dead and migrating to other projects.
However, to the surprise of many, almost 3 years later at the end of 2020, with the excitement over the arrival of Alonso and the Smart contracts to Cardano, the price began to skyrocket in a parabolic manner, rising by no more and no less than 3000%. in a little less than a year, becoming one of the projects with the highest market capitalization, which is why it does not surprise me that Cardano can act in a very similar way.
Although it is one of the projects with the greatest supply, although they do not have in mind to introduce any token burning action or to become deflationary, the work they are doing by introducing so many improvements and developing their blockchain could sooner or later have been reflected in its price.
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https://twitter.com/joel_jai1/status/1734567942191219101
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