Cardano (ADA) Sees Its Price Surge 11 Percent, Surpasses Litecoin (LTC)

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Tue, 07/07/2020 - 14:30
Alex Dovbnya
Cardano (ADA) continues its monstrous rally, breaking resistance after resistance
Cover image via stock.adobe.com
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Cardano (ADA), the cryptocurrency behind the blockchain 3.0 project of the same name, has surged more than 11 percent over the past 24 hours.

With a market cap of $2.8 bln, the token is now in seventh place on leading coin tracking website CoinMarketCap after trumping Litecoin.  

image by @Cardanians_io

Related
Here's What Trading Legend Peter Brandt Has to Say About Cardano (ADA)

Cardano’s wild streak of gains  

Those who thought that Cardano’s price rally in early June was just a flash in the pan turned out to be dead wrong.

ADA is now up 22 percent since reaching its local peak of $0.09 on June 4 which was followed by a short-term correction. 

What is more, the high-flying token has surged an eye-popping 545 percent since its yearly low of $0.017, which was touched on March 13.

Cardano has totally eclipsed see-sawing Bitcoin over the past month, with the ADA/BTC pair rising close to 30 percent. 

Cryptocurrency trader Michael van de Poppe believes that the token has no breaks, expecting it to smash through the 1200 satoshis level.

image by @CryptoMichNL

Other top performers 

Speaking of other top cryptocurrencies, Chainlink (LINK) remains a clear outlier, with its price printing yet another all-time high of $5.59 after a 16 percent spike.

However, meme coin Dogecoin (DOGE) managed to outperform LINK, with its 17 percent rally (mostly because of videos on the TikTok app).  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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