Why is Cardano rising today?

After a 24-hour tracking period prior to Thursday night, ADA was trading up 7.39% at $1.66.

Cardano (ADA 7 hours after CRYPTO) extended 4% at $6.66 to $1 after 2 hours into Thursday night.

observed movement
The cryptocurrency created by Charles Hoskin added 0.9% on the 7-day tracking table.

ADA up 9.24 and 10.3% against Bitcoin

and Ethereum

, each within 24 hours.

According to data from CoinMarketCap, ADA trading volume jumped 125.03% in 24 hours to $3.74 million.

ADA has surged 851.98% since the beginning of the year. This is down 14.61% in 30 days and 43.06% in the past 90 days.

In September, ADA hit an all-time high of $3.10. At press time, the cryptocurrency was trading 46.19% below that level.

Why move?
ADA has seen gains despite the major cryptocurrency trading in the red, with the global cryptocurrency market capitalization down 1.46% to $2.59 trillion at press time.

According to Cointrendz, ADA was the fourth most-mentioned token on Twitter at press time. This has been mentioned in 2,307 tweets.

The three coins with the most mentions were BTC, ETH, and Solana, with 4,412, 4,098, and 2,604 tweets recorded, respectively.

Hoskinson recently mentioned several developments related to Cardano. On Tuesday, he explained a new Cardano-based fundraising mechanism that utilizes an initial stock offering (ISPO) via a Twitter video.

Cardano, often classified as an Ethereum killer, gained smart contract functionality through Alonzo’s hard fork in September. Hoskinson also mentioned DApp development and security in a recent video. DApps could be on the market “very soon, in a few weeks or months,” he said.

On Thursday, Hoskinson referenced DApp certification and standardization again in a tweet. The Cardano founder lamented the fear, uncertainty and doubt surrounding the cryptocurrency project and was critical of the misinformation surrounding Cardano.

Cardano will be delisted from the eToro cryptocurrency exchange by the end of this year.

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