Cardano’s rally has dwarfed the gains of major cryptocurrencies.
Major cryptocurrencies were higher late Thursday, with the global cryptocurrency market capitalization up 6.62% to $2.03 trillion.
What happened
Cardano ADA
In the 24 hours to press time, it has risen 13.97% to $2.39. In one week, ADA rose 21.23%
top cryptocurrencies, bitcoin
It was trading up 6.17% at $47,029.53 after a 24-hour tracking period. In a 7-day period, BTC is up 3.89%.
Ethereum
After a 24-hour tracking period, it was trading up 7.97% at $3,217.44, up 3.03% for the week.
Dogecoin Governor
The Shiba Inu-themed cryptocurrency surged 5.48% to $0.31 in 24 hours. DOGE is up 15.49% in 7 days.
Swiss Fort CHSB
It was the cryptocurrency with the biggest gain in 24 hours on Thursday night, surging 27.13% to $0.91 in 24 hours and 26.27% in 7 days.
CHSB, a project seeking to democratize wealth management, rose 19.82% and 17.95% against BTC and ETH, respectively.
Other cryptocurrencies that particularly benefited in the 24 hours before the end of the current period were The Graph GRT
, Phantom FTM
and polygon MATIC
.
Over the same period, GRT gained 23.61% to $1.04, FTM gained 23.36% to $0.53 and MATIC gained 14.31% to $1.50.
because it matters
Cardano has been doing well in recent days after announcing that the Charles Hoskinson-created token will gain smart contract functionality on September 12.
ADA hit an all-time high of $2.46 three hours before press time, down 3.29% from that level.
Minutes from the Federal Open Market Committee, or FOMC, on Wednesday suggested the Fed could slow asset purchases later in 2021. Both the cryptocurrency and stock markets have noticed this change in stimulus.
FundStrat noted in an announcement that BTC’s ability to sustain its 200-day moving average would be “the first domino to fall if it sees a rebound by the end of the year,” Coindesk reported.
“We are noticing a mid-term trend developing, with active market participants exchanging BTC and ETH for other altcoins,” the market research firm noted.
According to Bitpanda, BTC’s gains pale in comparison to Cardano, XRP and other altcoins Ripple
According to data provided by Coindesk, DOGE is up more than 40%, while BTC is up 7% in the past two weeks.
