As we delve into the daily market analysis for Cardano or ADA, it’s clear that the cryptocurrency is showing steady performance.
Current Price
At the time of writing this report, the current price of Cardano stands at $0.2490, indicating that the digital asset is stable.
24-Hour Price Range and Trading Volume
In the last 24 hours, ADA has traded between $0.254641 and $0.248589. This reinforces the steadiness in price that the asset has shown. A total of 108,335,806 ADA has been traded, showing strong market participation.
Market Capitalization
Cardano’s market capitalization is currently impressive at approximately $8.72 billion. With a market cap rank of 8 in the top 50 cryptocurrencies, Cardano commands 727.2803% of the total cryptocurrency market cap.
7-Day Price Range
Over the past seven days, the cryptocurrency has hovered between a slight decrease of -1.9572%, indicating a minor pullback from the digital currency.
Price Trend
The price trend of Cardano has experienced a slight decline of -9.57248%, but as it stands, investors remain bullish on the crypto.
All-Time High and Low
Historically, Cardano has hit an all-time high of $3.09 and floored at $0.01925275, illustrating the significant growth potential of the digital asset.
Supply
There is currently a circulating supply of 35,045,020,830.3234 ADA, with a max supply set at 45 billion.
Market Sentiment and Correlation with Bitcoin
Generally, the market sentiment towards Cardano remains high at 76.71%. When compared to Bitcoin, which leads the crypto market trend and stands at $26,475.00, it’s essential to track Cardano’s price closely.
Price Prediction: 24 Hours and 7 Days
ADA is expected to hold steady in the next 24 hours, likely staying within its current price range. Meanwhile, in the next seven days, analysts predict a bullish trend, owing to the current market sentiment, healthy trading volumes, and stable market cap.
To sum it up, while there might be some minor price fluctuations, the overall trend of Cardano remains stable, making it worthy of keeping an eye on in the competitive cryptocurrency market.
