Cardano (ADA) turned out to be one of the most productive altcoins in 2023.
In a matter of one month, the cryptocurrency shot up from $0.2 to an impressive $ 0.4 – representing a sensational 65% surge in its value! This also caused its capitalization to skyrocket from $8.63 billion to an incredible figure of $13.81 billion!
With the backing of major investors, Cardano has seen a surge in its ranking to 8th place among digital currencies over the past 30 days. As ADA continues to gain momentum, now is an optimal time for individuals and organizations alike to invest in this reliable cryptocurrency.
As reported by analysts at Santiment, whale and shark reserves dramatically surged with an additional 405.85 million ADA under their control. Not only that, but the number of transactions worth more than $100,000 reached its peak since November 12th last year!
Generally, larger investors begin to purchase cryptocurrency when it reaches its true worth. This renewed investment establishes the conditions for an inevitable rebound of the coin’s value.
BitNation predicts that the ADA rate will skyrocket to $0.72 by 2023, but only after it conquers formidable resistance levels of $0.48 and $0.69 along its journey to success.