{"id":27914,"date":"2024-12-12T14:24:11","date_gmt":"2024-12-12T14:24:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27914"},"modified":"2024-12-12T14:24:11","modified_gmt":"2024-12-12T14:24:11","slug":"cardano-ada-jumps-by-15-daily-these-3-bullish-factors-suggest-a-further-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27914","title":{"rendered":"Cardano (ADA) Jumps by 15% Daily: These 3 Bullish Factors Suggest a Further Rally"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Cardano\u2019s price soared to as high as $1.17, with market cap surpassing $40 billion amid bullish network indicators.
\n73% of ADA investors are now in profit, a sharp recovery from August\u2019s lows when the majority of the token\u2019s holders were underwater.<\/p>\n

<\/a><\/span><\/h2>\n

ADA Heads North<\/h2>\n

The cryptocurrency market experienced<\/a> a notable recovery in the past 24 hours, with multiple leading digital assets charting impressive gains. Bitcoin (BTC), for instance, jumped above $100,000 again, while Ethereum (ETH) is inching toward the $4K level.\u00a0<\/span><\/p>\n

Cardano\u2019s ADA is also one of the best performers, with its price pumping by almost 15% <\/span>on a daily scale<\/span>. At one point, the valuation reached $1.17 before stabilizing at its current $1.14 (per CoinGecko\u2019s data). Meanwhile, ADA\u2019s market capitalization surged above $40 billion, solidifying the asset\u2019s presence among the top 10 <\/span>biggest<\/span> cryptocurrencies.
\n<\/span><\/p>\n

<\/a>ADA Price, Source: CoinGecko<\/p>\n

Its most recent resurgence aligns with three bullish indicators. The first <\/span>one<\/span> is \u201cNet Network Growth,\u201d which, according to IntoTheBlock, has <\/span>risen<\/span><\/a> by 0.26% daily. The platform explains that the metric is a momentum signal \u201cthat gives a pulse of the true growth of the token\u2019s underlying network.\u201d<\/span><\/p>\n

Next on the list is \u201cConcentration\u201d (an indicator that measures daily changes in the positions of whales holding over 1% of the circulating supply and investors owning between 0.1% and 1%). The metric has climbed by 0.26%, entering the bullish zone.\u00a0<\/span><\/p>\n

Last but not least, we will discuss \u201cLarge Transactions\u201d (a technical tool showing the number of transactions greater than $100,000). The figure has risen by 0.52%, suggesting increased network activity<\/span>.<\/span>\u00a0<\/span><\/p>\n

We recently released a video with some of the <\/span>major<\/span> developments surrounding Cardano. Check it out here:<\/span><\/p>\n\n

<\/div>\n

ADA Investors in the Green<\/span><\/h2>\n

Contrary to the <\/span>aforementioned<\/span> bullish elements, one is in bearish territory. This is the \u201cInTheMoney\u201d indicator,<\/span>\u00a0which displays the change in the number of ADA investors currently sitting on paper profits.<\/span><\/p>\n

As of writing these lines, 73% of all people exposed to the asset are <\/span>in the green<\/span><\/a>, 16% are underwater, <\/span>and<\/span> 11% are break-even. Despite the slight retreat, the percentage of profitable investors remains much higher than <\/span>what <\/span>was<\/span> observed<\/span> at the start of August this year.\u00a0<\/span><\/p>\n

Back then, almost nobody holding ADA was sitting on paper profits due to <\/span>the token\u2019s crash<\/span><\/a> below $0.30. At that point, <\/span>a whopping<\/span> 87.6% were in the red, while approximately 12% were break-even.<\/span><\/p>\n

The post Cardano (ADA) Jumps by 15% Daily: These 3 Bullish Factors Suggest a Further Rally<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Cardano\u2019s price soared to as high as $1.17, with market cap surpassing $40 billion amid bullish network indicators. 73% of ADA investors are now in profit, a sharp recovery from August\u2019s lows when the majority of the token\u2019s holders were underwater. ADA Heads North The cryptocurrency market experienced a notable recovery in the past […]<\/p>\n","protected":false},"author":0,"featured_media":27915,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27914"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27914"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27915"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}