3 Reasons Cardano (ADA) Suddenly Surged by 85% in 10 Days

3 Reasons Cardano (ADA) Suddenly Surged by 85% in 10 Days

Gate Trade News Wednesday, July 8, 2020 408 0

The price of Cardano (ADA) increased by 85% in 10 days, officially surpassing Bitcoin SV to become the sixth-biggest cryptocurrency by market cap.

 

The price of Cardano (ADA) increased from $0.074 to $0.137, by more than 85% in less than two weeks. It surpassed Bitcoin SV (BSV) to become the sixth-largest cryptocurrency by market capitalization.

 

Three factors likely caused the intense rally of ADA in recent weeks. The potential catalysts are the new Shelley upgrade, favorable market structure and the rapid growth of the decentralized finance (DeFi) market.