Ethereum

Cardano

bullish

when

In a remarkable recovery, <a href="https://yellow.com/asset/ada" rel="noopener noreferrer nofollow">Cardano (ADA)</a> has seen its price skyrocket to $1.17, with its market capitalization surpassing $40 billion. This upward momentum has left 73% of ADA investors in profit, a stark contrast to August's challenging period when most were at a loss.
In the last 24 hours, the cryptocurrency market has rebounded significantly, showcasing strong performances from several major digital assets. Bitcoin (BTC) once again breached the $100,000 threshold, and Ethereum (ETH) is steadily approaching the $4K mark. Cardano's ADA distinguished itself with an almost 15% daily price increase, peaking at $1.17 before settling around $1.14, as reported by CoinGecko. ADA's market capitalization surged past $40 billion, reinforcing its standing among the world's top 10 cryptocurrencies.
Three bullish indicators are aligned with ADA's latest uptrend. The first is "Net Network Growth." According to IntoTheBlock, this metric has climbed by 0.26% daily, serving as a momentum signal that assesses the real growth of the token's underlying network.
Additionally, the "Concentration" indicator, which tracks daily changes in the positions of significant holders and moderate investors, increased by 0.26%, marking its position in the bullish territory. Finally, "Large Transactions," a tool that records transactions exceeding $100,000, has seen a 0.52% rise, indicating heightened network activity. A recent video release explores major developments impacting Cardano; you can watch it here:
Despite these promising signs, one indicator remains bearish: the "InTheMoney" measure. This gauge reflects shifts in the number of ADA investors experiencing paper profits. Currently, 73% of ADA holders are profiting, 16% are at a loss, and 11% are breaking even. Despite its minor drop, the proportion of profitable investors is significantly higher compared to early August. At that time, only a few held onto paper profits as ADA's price plummeted below $0.30, with 87.6% facing losses and about 12% breaking even.

Cardano Price Jumps 15% as Three Bullish Catalysts Emerge

Yellow News

Other articles published on Dec 12, 2024

Eigen Foundation commits 1% of EIGEN supply to ETH Protocol Guild

OpenAI apologizes for outage after Apple update combines Siri and ChatGPT

Binance Labs Recent Investment: What is Astherus?

Amazon Faces Decision on Bitcoin Investment After NCPPR Proposal

Bitcoin or XRP: Choosing Your Crypto Asset for 2025

Brian Quintenz Leads Race for CFTC Chair as Trump Team Eyes Crypto Regulation Overhaul

Join our free newsletter for daily crypto updates!