Bitcoin has certainly seen better days as of late, but it also faced some price crashes as well. It now continues to struggle around the $55,000 mark and is aiming at the $60k mark. Meanwhile, Cardano (ADA) has managed to surpass expectations and reach new heights, even going as far as securing a position in the top 3 coins in the entire crypto industry right now.
It is worth pointing out that as of this moment, Bitcoin is still in high demand. It is true that it has been struggling, but that has not deterred consumers from investing in BTC. In fact, Bitcoin has actually managed to recover nearly $3,000 within the last 24 hours. However, it still struggles to get past the $60,000 mark. This has resulted in the altcoin market taking advantage of the losses experienced by BTC, and as such, have led to a huge increase for Cardano. So potent was this surge that Cardano’s ADA has now managed to become the 3rd biggest crypto in terms of market cap once again.
Furthermore, after setting an all-time high this past Saturday where it recorded above $60,000, Bitcoin underwent a massive correction which saw it lose $9,000 in just the span of a few days. It had also dropped to just over $53,000 on Bitstamp, according to reports provided yesterday. A number of bulls, however, have taken it upon themselves to help push BTC back upwards though and are continuing to do so at the time of this writing as well. Additionally, the support levels of $53,000, $54,500, and the mark where BTC is at right now, $56,000, could also be of assistance if needed in the near future.
Cardano surprises all with top 3 listing
As the saying goes, one man’s loss is another’s opportunity. Cardano has managed to utilize the situation to its advantage, experiencing a surge that has led them all the way to the top 3 coins in the market right now.
While it is true that other cryptocurrencies also experienced some gains and losses, with Ethereum managing to stay just below the $1,800 mark and Litecoin, Binance Coin, and Chainlink all experiencing small gains each, it is Cardano that has benefited the most with an increase of well over 20%, bringing the asset’s price close to $1.30.