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While Bitcoin is stagnating, Cardano (ADA) is showing growth.
Cardano continues to increase its value
At the moment, Bitcoin cannot yet surpass the $ 50,000 figure. The situation is similar with most altcoins. They are also stagnating. The only exception is so far only Cardano. ADA is up 6%.
Earlier, Bitcoin showed increased volatility, repeatedly trying to overcome $ 50,000, but each time the bulls ran into fierce bearish resistance.
For example, this Friday, after reports that the US had hit its highest inflation rate in about 40 years, Bitcoin attempted to break the $ 50,000 psychological milestone, but then rolled back almost immediately.
As a result, Bitcoin was below the $ 47,000 mark for the third time in a week. However, then he managed to win back the fall a little, but the threshold of 50,000 remained unchanged. The asset is now priced at just over $ 49,000 and has a market capitalization of $ 950 billion.
Altcoins have also been volatile over the past week. In particular, Ethereum dropped below the $ 4,000 mark several times, but then it was able to overcome this indicator. In turn, Binance Coin has increased in price by 2.5% per day, and it is $ 565.
Avalanche and Shiba Inu also showed positive dynamics. The best performing on the market was Cardano, which rose 6% and approached the $ 1.35 mark. But Solana, Ripple, Polkadot and Dogecoin are showing negative dynamics so far. Terra has fallen in price the most. During the day, its cost has decreased by 6%. And its price has so far been less than $ 60. Low and mid-cap altcoins show significant fluctuations. Quant, Gala, NEAR Protocol and OKB saw gains of several percent on the day.
Can Cardano hold its leading position? Much will depend on the general market situation. If Bitcoin manages to show the dynamics of growth, then the rest of the assets will rise in value. However, there are no fundamental factors yet to show that the bulls will be able to gain the upper hand. In the meantime, BTC is in stagnation, it seems that only Cardano is ready to move forward, but this trend may end quickly.
#Cardano #risen #price
