Cardano Joins Top 10 Cryptos – Will ADA Challenge Solana Next?
Cardano has outperformed the market today, pushed higher by speculation that Charles Hoskins could be signing a partnership with SpaceX.
The price of Cardano has risen by 2.5% in the past 24 hours, reaching $0.5954 and outperforming the crypto market amid speculation that Cardano may partner with SpaceX.
ADA is also up by an impressive 40% in a week, and this and today’s increase has enabled it to re-enter the market’s top ten in terms of capitalization.
The altcoin has also increased by 73% in a fortnight and by 69% in a month, with its annual increase sitting at 63%.
Yet the fact that its annual return is still relatively modest creates space for it to continue rising in the coming weeks and months, with its fundamentals combining with the market’s bullishness to cause some big gains.
Cardano Joins Top 10 Cryptos – Will ADA Challenge Solana Next?
ADA’s chart today finds its indicators regaining momentum after a momentary dip.
Its relative strength index, for instance, has risen from around 35 yesterday to 60 today, a sign that traders will be pushing the coin higher.
Source: TradingViewADA is also experiencing relatively high trading volume today, at $2 billion.
This marks a 900% increase in trading over a month ago, a clear sign that demand has come to the coin.
And probably the main reason why ADA is outperforming the rest of the market today is that speculation has grown after Cardano founder Charles Hoskinson tweeted a photo of himself standing near a SpaceX rocket.
This has fuelled rumors that Cardano may partner with the Elon Musk owned SpaceX in some capacity, something which would be massive for the layer-one network and its native ADA token.
Regardless, ADA has been in line for a substantial rally for quite some time now, given how the market has neglected it in recent months and years.
It remains down by 80% in relation to its all-time high of $3.09, which it set back in September 2021.
This means it has lots of space to rise and rally in the near future, and with its fundamentals being among the strongest in the market, it could really wide the new bull market in a big way.
Its total value locked has risen beyond $330 million in the past few weeks, while it currently counts nearly 2,000 projects under development.
Such fundamentals could help it to rally big over the next year, and while it’s unlikely that it will overtake Solana anytime soon, the Cardano price should certainly do good things.
It could reach $1 by the end of the year, while testing its ATH by the second half of 2025.
New Presale Tokens Show Strong Potential
ADA is overdue a big rally, but given that it has had a tendency to rise only steadily, some traders may prefer looking to newer and more high-performing tokens.
Presale tokens represent one group of coins that could experience especially strong rallies during the current bull market, with the biggest presales often ending in big listings.
One coin with a great chance of doing well in this respect is Flockerz (FLOCK), an ERC-20 token that has raised just over $1.8 million in its increasingly popular sale.
Flockerz has the distinction of being the market’s first vote-to-earn token, with its platform rewarding holders for participating in governance votes.
This is likely to make FLOCK a very profitable token to hold, seeing as how every decision concerning its growth and development will go to its holders.
Owners will also be able to stake the coin, earning a staking income on top of any voting rewards.
FLOCK could therefore enjoy significant demand, with the coin having a max supply of only 12 billion.
Its protocol allocates 25% of this max supply to staking, with 25% going to governance rewards and 20% to the coin’s presale.
Investors can join its sale by visiting its official website , with the offering having 50 stages in total.
Participants can currently buy FLOCK at a price of $0.060289, which will rise fractionally in the next couple of days.
And given Flockerz’ momentum, it’s likely to rise much higher once the sale ends and FLOCK lists.
Buy FLOCK Now
- 13 Million XRP Burned, Analyst Predicts $6.4 Target as Scarcity Rises
- Dogecoin Price to $10 as Elon Musk Joins Trump Administration, Who’s Next from Crypto?
- Next PEPE is Pepe Unchained (PEPU) as Whales Dive in, Biggest Meme Coin Presale Ever Ends in 30 Days
- Bhutan Reaches $1 Billion in Bitcoin Holdings
- Best Crypto to Buy Now November 13 – Dogecoin, Bonk, Cronos
- Bitcoin (BTC) Price Prediction
- Ethereum (ETH) Price Prediction
- Ripple (XRP) Price Prediction
- Dogecoin (DOGE) Price Prediction
- Solana (SOL) Price Prediction
- Best Crypto Wallets
- Best Crypto to Buy Now
- Best Crypto Presales to Invest In
- Best New Meme Coins to Buy
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRPPERP now launched for USDC-M futures trading
Bitget has launched XRPPERP for futures trading with a maximum leverage of 75 on November 27, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. XRPUSDC-M perpetual futures: Parameters Details Listing time November 27, 2024 16:40 (UTC+8) Underlying
Bitcoin (BTC) Surges to New Heights Amidst Robust Capital Inflows
Bitcoin's price hits an all-time high of $93k, driven by $62.9 billion capital inflows, with ETFs playing a critical role in stabilizing the market.
Bitfarms Expands Board and Appoints Andrew J. Chang as Independent Director
Bitfarms announces board expansion to six members, appointing Andrew J. Chang as an independent director, following a special shareholder meeting. Key shareholder proposals were approved.
Pantera Bitcoin Fund Achieves 1,000x Milestone Amidst Market Surge
Pantera Bitcoin Fund reaches a significant 1,000x growth milestone, with post-election market dynamics further boosting its performance, according to Pantera Capital.