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Cardano (ADA) Price Surges 32% In 4 Days: Here’s Why

NewsBTC LogoNewsBTC13h ago

Cardano (ADA) Price Surges 32% In 4 Days: Here’s Why - NewsBTC

Quick Summary:

In a recent post on X, they observed that ADA has been “one of the notable surprise altcoins taking flight during this crypto-wide pump.” They suggested that “we may be seeing some retail FOMO coming soon,” acknowledging that this surge “has been a long time coming for the patient ADA community.” Santiment reported that Cardano broke above $0.43 for the first time since July, climbing 25% in three days due to “massive network and whale activity.” Specifically, they pointed out that 37,892 unique ADA addresses made transfers in a single day—the most since the September 4th bottom—and there were 697 transactions exceeding $100,000, also the highest since that date.

Powell said that “labor market conditions have generally eased” and that "risks to goals remain roughly in balance.” #2 Cardano Whale Activity On-chain analysis firm Santiment has highlighted a surge in whale activity surrounding Cardano.

Related Reading: Cardano Might See A Massive Pump Around November 18 – Analyst Exposes 2020 Similarities The current move has also allowed the ADA price to break above a downtrend line that has dictated its price movement since April, after being rejected five times previously.


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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-08 @ 12:30:18 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 480 words

Reading Time: 3 minutes read

Sentences: 66 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 23470119

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 7 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 8 hours ago

Coverage Areas: United Kingdom

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Publisher ID: #102

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