Cardano’s ADA Set New All-Time High as Crypto Market Cap Reclaims $2T Mark

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Cardano's ADA Set New All-Time High as Crypto Market Cap Reclaims $2T Mark
Cardano's ADA Set New All-Time High as Crypto Market Cap Reclaims $2T Mark

As the ADA climbs to a record high of $2.54, Cardano’s steady upward momentum continues. Bitcoin recovered $3,000 in one day and is currently around $47,000.

Bitcoin responded pretty well to the drop to $44,000, adding $3,000 in value in a matter of hours. However, some altcoins have once again outperformed their leaders, including Cardano. ADA previously soared about 20% to hit a new all-time high of over $2.5.

ADA’s New ATH and green alternative

It’s safe to say that Cardano’s native cryptocurrency has done the best lately. As early as July 20, ADA fell below $1 during the market adjustment phase but has since declined. A few weeks later, its value doubled and rebounded $2.

Aside from some volatility, it has risen and hit a record high of around $2.54 (on Bitstamp) today. Although it has fallen slightly since then, ADA has cemented its position as the third-largest cryptocurrency in terms of market capitalization.

The second-largest Ethereum rose 7% today and has rebounded $3,200. Even though Binance Coin lost its ADA position, it still rose 6% to more than $420.

More impressive profits from large-cap altcoins come from Ripple (10%), Dogecoin (6%), Polkadot (10%), Uniswap (7%) and Bitcoin Cash (5%). LUNA is the only stock that is red in the 24-hour range because it cooled off after the recent rally.

Voyager Token has the largest increase in the top 100 with an increase of 40%. Next up are SwissBorg (25%), The Graph (19%), Helium (13%), FTX-Token (12%) and Polygon (11%).

The market value of cryptocurrencies has risen more than $100 billion since yesterday’s lo and has regained $2 trillion to date.

Bitcoin Recovers $3000

The aforementioned retracement pushed the major cryptocurrency to a multi-day low of around $44,000 yesterday. It did so after the asset failed to break the $48,000 mark earlier this week.

However, the bulls strengthened at this point and reversed the course of BTC. Over the next few hours, Bitcoin gradually began to appreciate, even breaking through $47,000 at one point.

While it didn’t stay above the price tag, it still rose nearly $3,000 that day. Its market value is back at just under $900 billion, but its dominance has been weakened by soaring altcoins. This indicator fell to 43.5%.