{"id":40703,"date":"2023-01-09T12:29:48","date_gmt":"2023-01-09T12:29:48","guid":{"rendered":"https:\/\/egrowonline.com\/?p=40703"},"modified":"2023-01-09T12:29:48","modified_gmt":"2023-01-09T12:29:48","slug":"cardano-ada-suddenly-soars-17","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=40703","title":{"rendered":"Cardano (ADA) Suddenly Soars 17%"},"content":{"rendered":"


\n<\/p>\n


\n\"article
\n<\/a><\/p>\n
Alex Dovbnya<\/a><\/p>\n

Sudden rally has not been linked to any particular news developments related to Cardano (ADA)<\/p>\n<\/div>\n<\/div>\n

\n

The price of Cardano has surged roughly 17% over the last 24 hours after months of severe underperformance.<\/p>\n

ADA has now surged to $0.32, with its market capitalization topping $11 billion. This allowed Cardano’s native cryptocurrency to surpass meme cryptocurrency Dogecoin (DOGE) by market capitalization.<\/p>\n

The latest price move seemingly came out of nowhere since it is not linked to any announcement.<\/p>\n

While such sudden bouts of volatility are common for cryptocurrencies, there is some speculation<\/u><\/a> that the most recent price move was triggered by whales manipulating the order books.<\/p>\n

Whales, a group of ADA owners who control a substantial portion of the cryptocurrency’s supply, are likely attempting to trick run-of-the-mill market participants into thinking that there is a legitimate rally.<\/p>\n

If that is the case, the recent price increase might simply end up being a flash in the pan, and the price will collapse to the level it was trading at the day before.<\/p>\n

ADA was one of the worst-performing cryptocurrencies of 2022, losing more than 90%.<\/p>\n

The cryptocurrency has been severely underperforming since the Vasil hard fork, which ended up being a “sell the news” event for ADA. Hence, the recent spike is certainly a welcome development for embattled Cardano bulls.<\/p>\n

Other major cryptocurrencies are also in the green, with Shiba Inu (SHIB) adding 4% and Bitcoin topping $17,000.<\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Alex Dovbnya Sudden rally has not been linked to any particular news developments related to Cardano (ADA) The price of Cardano has surged roughly 17% over the last 24 hours after months of severe underperformance. ADA has now surged to $0.32, with its market capitalization topping $11 billion. This allowed Cardano’s native cryptocurrency to surpass […]<\/p>\n","protected":false},"author":1,"featured_media":40704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[46],"tags":[340,266,263,1103],"class_list":["post-40703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-ada","tag-cardano","tag-soars","tag-suddenly"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/01\/29692.jpeg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40703"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40703\/revisions"}],"predecessor-version":[{"id":40705,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/40703\/revisions\/40705"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/40704"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40703"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}