Cardano’s growth in the cryptocurrency markets is one of the biggest success stories of any cryptocurrency. Having entered the markets in October 2017 – Cardano has been around for just a little over six months and has been one of the most successful names in the crypto-markets. In this very short span of time, Cardano has made its way to the top ten cryptocurrencies by market cap and is currently ranked seventh in the list.
As markets begin to recover, Cardano has been one of the biggest benefactors of this price gain – gaining almost 12 to 15% on a constant basis over the past few days. The last 24 hours too, were that of a fast-paced growth for Cardano and the currency continues to record a positive growth. Here’s a closer look at Cardano price performance over the past day, the past week as well as a look at where the prices may be heading towards.
Over the past 24 hours, Cardano’s price has been on a continuous rise. It rose by 10% as the currency started off the day at $0.208 and closed the day at $0.230. The currency’s market cap shot up from $5.4 Billion to $6 Billion – a growth of $600 Million over the day. Cardano continues to be the most impressive name in the cryptocurrency markets.
Cardano’s performance over the week has been quite impressive as well. The currency started the week at a price of $0.15 and closed the week at $0.23 – a significant growth, with 10 to 15% price rise being recorded almost every day. Cardano’s market cap has shot but from $3.9 Billion to $6 Billion over the 7 day period.
Cardano is expected to continue this momentum over the week and the next targets for the currency are the $0.3 and the $0.35 milestones. It is one of the safest investment opportunities right now, but considering how volatile cryptocurrency markets can be, we strongly advice setting up of a stop-loss and trading using definitive targets in mind.
When Cardano entered the cryptocurrency markets, the timing was just perfect as the entire market was bullish and the bull-run became even stronger over the last few weeks of December and the first week of January. This was the time when Cardano rose to prominence and has since been a key player in the crypto-markets.
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You can also check out our other price analysis articles:
- Bitcoin Price Update as on 16 April 2018
- Ethereum Price Update as on 16 April 2018
- Ripple Price Update as on 16 April 2018
- Litecoin Price Update as on 16 April 2018
Disclaimer: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions – which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advice.