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Cardano bull rally adds up another 30% jump in the price in the second consecutive day
With the jump in the ADA price, it secured 6th position in the cryptocurrency ranking list by flipping Polkadot.
Will ADA price Hit $1?
As Coinpedia reported earlier the ADA price is strongly heading towards $0.35, the price is expected to hit the target anytime from now. The massive bull rally of nearly 30 percent yet again for the second consecutive day has geared up the anticipation of forming a new all-time high very soon.
The market capitalization of ADA is also up by nearly 25% by touching more than $10 billion and also the trading volume in the last 24 hours has also increased drastically by 61% attaining $6 billion levels.
With the magnificent rally, the ADA price is expected to form a new all-time high in the coming days.
ADA Price Analysis
The ADA price initiated its rally from $0.24 and surge notably to touch $0.31 in the past working day. The jump continued in the second consecutive day with adding up another 30% profit which carried the price till $0.35 but woefully dumped back till $0.33.
The Cardano price at the time of writing is $0.3325 with a jump of 24.34 percent in the last 24 hours. In recent times, the altcoins have gained momentum and hence the altcoin market is pumping significantly.
The DeFi space, however, is not experiencing such a massive pump as the other altcoins as the Ethereum gas fees are skyrocketing and have reached highs. Therefore, this might be a possible reason why altcoins have been preferred more to invest than DeFi space.