The whole crypto market exploded price-wise during the past week.
Cardano’s ADA also saw massive price gains, and at the moment of writing this article, ADA is trading in the green, and the digital asset is priced at $0.153619.
The coin is now up by more than 15% in the past 24 hours.
Here are the main reasons for the price rise according to the latest info coming from the Cardano community.
Why the massive $ADA gains? A few reasons:
– Money printer go brrrrr
– Institutional buy-in is here
– Goguen is coming
– Coinbase is coming
– Africa is coming
– #Cardano is THE BEST #blockchain tech
– Cardano’s monetary policy is sound
– There is even more that we don’t know
— Card₳no Dan (@CardanoDan) November 22, 2020
The same person continued and explained: “Not to mention – all of us that have been preparing for this have our $ADA locked and earning rewards. DEMAND > SUPPLY Price goes BOOM!”
Another follower commented: “My take for what it’s worth. The market seems to love a hard fork. Had this with the Shelley hard fork, the last time #ada was $0.15. Great thing is that there are 3 coming up, each with more functionality. The future is bright.”
Cardano Foundation warns about bad actors
In other recent news, the Cardano Foundation warned about bad actors and scammers.
Be aware that bad actors are now using highly sophisticated methods to impersonate the Cardano Foundation, like duplicating our website. Always be vigilant that you are visiting the real URLs. No Cardano entity will ever ask you to transfer funds https://t.co/TJFdpNDF9K
— Cardano Foundation (@CardanoStiftung) November 19, 2020
The team behind the project also said:
We’ve noticed that fraudulent activity is on the rise. Stay vigilante, and learn how to identify them with our latest post on how to stay safe from sophisticated scams. https://t.co/OzAkwMZcHT
— Cardano Foundation (@CardanoStiftung) November 20, 2020
Stay tuned for more news.