The crypto market is down and all the important coins are bloody today.

Cardano (ADA) is no exception, and the digital asset is trading in the red as well, and it’s priced at $0.123150.

The coin is placed on the sixth position on CMC at the moment of writing this article and ADA is down by more than 3% in the past 24 hours.

Cointelegraph addresses the fact that ADA is one of the main beneficiaries of the fact that Bitcoin’s volatility is hitting historical lows.

ADA’s price raced by 400% this year during the global crisis that’s been triggered by the pandemic. The online publication notes that the recent price rally shows that the community has a lot of faith in the project and the founder Charles Hoskinson.

Cardano has more to prove

They noted that Cardano has a lot of potential.

On the other hand, the online publication brings up Ryan Fung, the CEO of Ankr — a firm that provides cloud solutions for blockchain applications — who seems to feel more confident in Cardano’s proven abilities, the community, and its network.

“The price rally has been tremendous, as it broke two resistance levels. We have been watching Cardano from more than a year with their development since the testnet till the mainnet. The network has emerged a lot, and the price rally has proved the strong market sentiment of the project and the trust community has got on the project,” he said.

The online publication also addressed the Goguen Era and we recommend that you check out the original article in order to learn more details.

Other than this, Cardano also addressed the Twitter hack that took place a couple of days ago.

Leave a Comment