Cardano (ADA) Demands the Spotlight as it Rallies 22% to Flip DOGE
Cardano (ADA) underwent an unexpected surge over the last week as the altcoin rose by 21.63%, drawing the spotlight as 2023 kicks off. I can't believe #ADA fam beat #Ethereum. #Cardano is enjoying a mini surge at this hour, and addresses holding between 1M to 100M $ADA may be a main validator to watch for a price breakout. After dumping 568.4M coins the final 2 months of 2022, they have added back 217.2M $ADA to start 2023. https://t.co/4aVmr641Lh pic.twitter.com/6mSVYKYfpY The rally comes in the wake of whale accumulation, with 217.2 million ADA (worth approximately $723,697.92 USD) bought up since the start of 2023. This follows a downward trend of 568.4 million coins sold in the last two months of 2022. Fiat-backed, regulatory-compliant stablecoins, known as “nonsynthetic,” are expected to arrive on Cardano’s network later in January. They could help bolster Cardano’s DeFi ecosystem. The reported accumulation of Cardano has been attributed to a predicted upsurge in cryptocurrency adoption in 2023. By increasing their ADA holdings, traders may be looking to hedge against inflation and capitalize on increased trading volumes and new address holders entering the market. Altcoins have been on an uptrend against the expectations of the bear market. The recovery might give crypto communities hope of carrying over losses from 2022. Cardano is among the leaders, trading for $0.3298 at the time of writing. Market players are expected to increase their holdings. Cardano is now heading into the Voltaire phase after the successful launch of the Vasil upgrade on Thursday, September 22nd, 2022, a reported display of the efficacy of Cardano’s methodical approach. The altcoin holds the eighth position on CoinMarketCap and is considered one of the most prominent crypto networks in the world due to its scientific significance for building future cryptos; its third-generation consensus algorithm Ouroboros. Cardano is amongst the most important crypto networks in the world. It plays a major role in building the future shape of crypto. Read more about how ADA overtook ETH with development activity in 2022: For a deeper insight into how Cardano works:
That is quite something. But it makes sense when you realize #Cardano is in fact decentralized, unlike #ETH.
For some reason @Cointelegraph assumed ETH would beat ADA and #Doge looking at how they ranked the coins. pic.twitter.com/eD0RH3Y2pyWhat is Behind the Price Swing?
Slow and Steady Wins the Race
On the Flipside
Why You Should Care
Cardano (ADA) Overtakes Ethereum (ETH) as Protocol with Most Development Activity in 2022
What Is Cardano, and How Does It Work?
Read more: https://dailycoin.com/cardano-rallies-22-to-flip-doge/
Text source: DailyCoin.com