Cardano Rises 12% To Cross $1 Threshold
(MENAFN- Yolo Wire) %Cryptocurrency %Cardano (CRYPTO: $ADA) has risen 12% in the last 24 hours and crossed the key threshold of $1 U.S. per digital token.
Cardano is currently leading gains among cryptocurrencies, as %Bitcoin (CRYPTO: $BTC) and %Ethereum (CRYPTO: $ETH) each remain rangebound.
Cardano is now trading at $1.08 U.S, having gained 207% in the last six months, with much of that increase coming since president-elect Donald Trump’s victory in U.S. elections held Nov. 5.
The rise in Cardano comes with several catalysts looming on the horizon.
These include efforts to improve Cardano’s scalability, network performance, and interoperability with other crypto networks, say analysts.
Some analysts see further gains ahead for ADA, with the most optimistic forecasts calling for another 30% increase in the price over the next six months.
Despite the recent gains, Cardano is still a long way off its all-time high of $2.85 U.S. reached in August 2021.
Cardano is a public blockchain platform that is open-sourced and decentralized, with consensus achieved using proof of stake. Its cryptocurrency trades under the “ADA” symbol.
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