When you look at the success that Cardano has had over the past seven months, you’ll probably find it hard to believe that the currency has been around for only seven months! One of the fastest growing names in the world of cryptocurrencies, Cardano’s growth has been massive! Having started off operations in October 2017, Cardano is currently ranked at no. 6 in the list of cryptocurrencies by market cap.
Cardano’s prices have been on a constant rise over the past week. The currency has recorded a massive growth – and is perhaps the biggest benefactor of this recent price surge as it has recorded a massive day-to-day growth in this period – more than any other currency in the top 10 list. Let us take a closer look at Cardano’s recent price performance and where it is likely heading from here on.
Over the past 24 hours, Cardano’s price has surged from $0.229 to $0.256, with the highest point of the day coming at a price of $0.272. Cardano started the day with a market cap of $5.9 Billion – and surged to a high of $7.06 Billion, closing the day at $6.7 Billion. It has been one of the biggest and most consistent performers of the past 24 hours.
Cardano’s price over the past week went from $0.151 to $0.256 – and peaking at $0.272. The $0.3 mark is not far away now, which would basically mean a 100% growth from where the currency was a week ago! Cardano’s market cap, over the week went from $3.89 Billion to $6.7 Billion.
Current expectations from market experts indicate that Cardano will face some pullbacks moving forward, especially around the $0.30 line. The currency, however, has formed a strong support at the $0.235 mark, and is not expected to fall below that any point in time in the near future. However, expect the $0.30 and $0.35 targets to be breached over the next ten days.
If this kind of a price surge continues, Cardano, which has recently surpassed the market cap of EOS, is all set to surpass the market cap of Litecoin as well, and become the fifth largest cryptocurrency by market cap. Going by the way the currency has been growing, it is quite possible too!
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