Ada Surges 14% Weekly While Btc Recovers $28K Amidst Increased Volatility

ADA Surges 14% Weekly While BTC Recovers $28k Amidst Increased Volatility

Over the past week, BTC experienced a drop below the $28,000 mark. However, things have taken a turn for the better as the bulls have pushed the digital asset back up north.

Unfortunately, today hasn’t been as kind to altcoins such as Shiba Inu and Dogecoin, which were among the top performers yesterday. HBAR and SOL are also experiencing a drop in value at the moment.

BTC Back Above $28K

Last week, Bitcoin experienced a lot of ups and downs. The drama began on Monday when the digital currency plummeted by a whopping $1,500 in mere minutes after the US CFTC took legal action against Binance and its CEO Changpeng Zhao.

However, the bulls soon stepped in and pushed the asset upwards, resulting in a surge in price to over $29,000 by Thursday. Unfortunately, this upward trend was not sustained, and the next day, BTC fell again, this time dropping below $27,600.

As the weekend came closer, the cryptocurrency surged up over $28,000 and almost hit $29,000, but unfortunately, it failed to break above this level. Saturday was relatively uneventful, while Sunday wasn’t as pleasant as BTC fell back to $27,600.

Despite this, the asset witnessed a massive surge of nearly $1,000 in the past few hours. As a result, it has reclaimed the $28,000 mark, with several crypto analysts predicting a more bullish scenario for the upcoming months.

At present, its market capitalization is just a hair’s breadth away from $550 billion, while its dominance remains steady at 46.4%.

Source: tradingview

Cardano Is Up 14% Weekly

In the last 24 hours, many alternative cryptocurrencies have followed Bitcoin’s lead. However, over the course of a day, some have suffered significant losses. Dogecoin and Shiba Inu, the two most giant meme coins, which had shown strong performance yesterday, have dropped by 5.5% and 3.5%, respectively. Solana is also down significantly, and HBAR has taken a hit with a decline of 6.3%.

Additionally, Ethereum, BNB, MATIC, DOT, LTC, TRX, and AVAX have all seen losses, albeit on a smaller scale.

Cardano seems to be a rare gem in the crypto world these days, as it’s been consistently gaining on a daily basis. Over the past 24 hours, ADA has surged by 3.5%, and over the week, it’s gone up by more than 14%. This impressive performance has brought its value to $0.4.

Meanwhile, the crypto market as a whole seems to be stuck in place, with its total market capitalization remaining flat at just under $1.2 trillion on CMC.

Crypto Market Today
Source: quantify crypto

Also Read: Over $25 Million Is Lost By Ethereum MEV Bots In A Sophisticated Attack

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