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November 29, 2022
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Guide & Analysis

Cardano (ADA) explodes 20% with market capitalization close to $2 trillion

Cardano (ADA) explodes 20% with market capitalization close to $2 trillion, that rise was in the last 24 hours.

After another drop below $45,000, bitcoin bounced back to $46,000. Most altcoins, however, surpassed their leader. The most obvious example comes from Cardano (ADA), which has risen 20% in the last 24 hours.

  • Cardano (ADA) explodes 20% with market capitalization close to $2 trillion.

Altcoin performance has been quite impressive over the past few days. Ethereum rose 30% on a weekly scale after it passed the London Hard Fork. In just the last 24 hours, ETH has surpassed $3,200 and set a new record of over $3,240 in several months.

Additional gains are evident with Dogecoin (3%), Polkadot (4%), Uniswap (2.5%), Solana (5%), Litecoin (4%), Bitcoin Cash (3.5%) and Chainlink (6% ).

Binance Coin is also on the positive (9%) after new listings in innovation zones. As a result, BNB hit close to $400 for the first time in months.

However, Cardano is the most impressive altcoin in the top ten. ADA has risen about 20% in one day and currently stands at $1.77 – the highest price since June 4th.

This occurred in the midst of revelation from Charles Hoskinson that the team will announce the launch of the smart contract this Friday.

The top 100 currencies have a new representative on the face of IoTeX (IOTX). The asset soared 175% in one day and 340% in one week to $0.086.

Axie Infinity (62%), Ravencoin (33%), Holo (30%), Helium (25%), Flow (15%), Terra (15%), Kusama (14%), IOTA (13%) and O polygon (10%) completes the double-digit price pump club.

Ultimately, the cumulative market capitalization of all cryptoactives rose $60 billion in one day and went from $1.9 trillion for the first time since May.

Bitcoin over $46K

The primary cryptocurrency also took advantage of the past few days, after claiming $40,000 over the weekend. It hit a high of $46,800 yesterday, which became the highest price line in more than two months, but quickly bounced back amid changing US taxation.

It actually dropped to about $44,600, but the bulls immediately regained control and pushed it north again. In the following hours, the BTC added more than $1,500 in value and went back to over $46,500.

As of now, however, bitcoin has been slightly corrected again, but is still above $46,000. Its market capitalization is again above $850 billion, but dominance dropped 1% in one day as altcoins rose sharply.

BTCUSD. Source: TradingView

Source: CryptoPotato

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