Cardano

PancakeSwap

Bitcoin ETF

Bitcoin

Read

<div class="cryptonews">
 <p class="is-style-lead">The value of Cardano has been on an upward trajectory in November, with whale investors significantly contributing to this rally, as indicated by on-chain data.&nbsp;</p>
 <p>On Nov. 5, the price of Cardano (ADA) escalated by 7.5% to $0.348808, marking the highest level in roughly four months.&nbsp;</p>
 <p>According to data from CoinGecko, ADA’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> surged 18% over the past week. The surge was possibly driven by the Cardano Summit 2023, which took place from Nov. 2-4.</p>
 <p>Similarly, in the last fortnight, ADA prices shot up by 33.3%, a feat accompanied by a 9% growth in the coin’s market capitalization as observed by on-chain analytics platform, Santiment.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">#Cardano has been the big story Thursday, with its market cap growing +9% in the past 24 hours and now +36% over 2 weeks. As usual, #onchain activity hinted at this #bullish action with $ADA address activity &amp; whale transaction at their highest in 3+ months.… pic.twitter.com/IYBBk3ssf4</p>— Santiment (@santimentfeed) November 2, 2023
   </blockquote>
  </div>
 </figure>
 <p>The same improvement was noted in Cardano’s monthly <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> movement, with the coin registering a 30.1% uptick in that period, per CoinGecko.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Cardano grows 36% in the past two weeks, 6th in gainers
 </div>
 <p>Analysts feel factors such as increases in whale and decentralized finance (defi) activities may have contributed to boost Cardano prices.</p>
 <p>The latest data from DeFiLlama indicates that ADA’s total value locked (TVL) has risen to $235.1 million, which marks a 39% increase over the last 30 days.</p>
 <p>Interestingly, four of ADA’s most significant defi projects, Indigo, Minswap, Liqwid, and Optim Finance, have all recorded growth in the past four weeks, coinciding with the coin’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> increase.</p>
 <p>Similarly, data from Santiment shows a significant increase in whale transactions. On Nov. 4, ADA transactions valued at more than $1 million were more than 1,740, the highest since the early days of 2022.</p>
 <figure class="wp-block-image"><picture decoding="async" class="wp-image-14212333">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/06/6f70fed296ed3aa8582f4e6bca5f4f35.webp.webp">
   <img decoding="async" width="1600" height="1002" src="https://cdn.thebittimes.com/images/2023/11/06/6f70fed296ed3aa8582f4e6bca5f4f35.webp" alt="Cardano price rallies 18% in 7 days, attains four-month high - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   ADA whale transactions | Source: Santiment
  </figcaption>
 </figure>
 <p>The surge was accompanied by a decrease in Cardano’s daily active addresses, suggesting a solid buying sentiment among the token’s biggest holders.</p>
 <p>The price improvement also aligns with a general market recovery that began on Oct. 19 when Grayscale Investments reapplied for its Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). From that point, the price of ADA climbed over 40%.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14212332">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/11/06/2054fff872817eca98010b09bbe91ad4.webp.webp">
   <img decoding="async" width="1024" height="1024" src="https://cdn.thebittimes.com/images/2023/11/06/2054fff872817eca98010b09bbe91ad4.webp" alt="Cardano price rallies 18% in 7 days, attains four-month high - 2"> 
  </picture>
  <figcaption class="wp-element-caption">
   ADA <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> chart | Source: CoinGecko
  </figcaption>
 </figure>
 <p>Additionally, ADA has historically done well in November, scoring an average return of 44.7% since 2017.</p>
 <p>The token’s <a rel="noopener noreferrer nofollow" title="price" href="https://thebittimes.com/tag/price.html">price</a> recently exceeded the 200-day Exponential Moving Average (EMA), aligning the technicals to boost ADA demand.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> PancakeSwap surges 92% as defi tokens record outsized price increases
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/cardano-price-rallies-18-in-7-days-attains-four-month-high-tbt69137.html">https://thebittimes.com/cardano-price-rallies-18-in-7-days-attains-four-month-high-tbt69137.html</a></p>

Cardano price rallies 18% in 7 days, attains four-month high

TheBitTimes

Autres articles publiés le 5 nov. 2023

Bitfinex Suffers Minor Security Incident Following Customer Support Hack

This Is the One and Only Thing that Could Kill Bitcoin

Monero (XMR) Wallet Hacked: Is Coin No Longer Safe?

Blockchain Life 2023: Shaping Trends for the Upcoming Bull Run

SBF lost millions worth of Ripple’s XRP amid his ongoing legal battle against the US SEC

Elon Musk Impersonator Considers XRP For Payments on The X App

Join our free newsletter for daily crypto updates!