Why is Cardano rising this week? By Benzinga Spain

Why is Cardano rising this week?

(CRYPTO: ADA) has skyrocketed 16% during a seven-day tracking period prior to early morning this Tuesday.

Observed movements The cryptocurrency created by Charles Hoskinson was trading almost 1.8% lower at $ 1.45 after a 24-hour period at press time.

Against the major cryptocurrencies, (CRYPTO: BTC) and (CRYPTO: ETH), ADA was up 2.5% and 2.7% respectively over the course of 24 hours.

In 30 days, ADA has fallen by 3.7%, while in the last 90 days it has fallen by 30.9%.

Since 2021 began, rival cryptocurrency Ethereum has gained 742.5%. In September, ADA hit an all-time high of $ 3.10.

Why is it moving? Cardano was trading lower at the time of publishing this article along with other major currencies, on a day in which the global market capitalization of cryptocurrencies fell 4.2% to almost 2.3 trillion dollars.

ADA was the fourth most mentioned currency on Twitter. At the press of this edition, it accumulated mentions in 2,611 tweets, according to Cointrendz data.

The three most talked about currencies were Bitcoin, and Ethereum. They had received mentions in 9,640, 7,509 and 4,323 tweets, respectively.

On Monday, Amsterdam-based cryptocurrency trader Michaël van de Poppe claimed that Cardano was close to “bottoming out.”

In a YouTube video, ADA creator Hoskinson noted that his goal for the second half of 2022 was “to figure out how to put all the pieces together for an end-to-end microfinance transaction at Cardano.”

“A formal open source project structure will be formed, like Hyperledger for Linux,” Hoskinson stated.

In a Twitter update on Monday, Hoskinson noted that more than 175 projects are under development at Cardano, with more than a dozen to launch by the end of the first quarter.

Just and example of how incredibly hard it is to ensure accurate information is available. I said today more than 175 projects are building on cardano and more than a dozen will be launching by the end of Q1. Then on reddit immediately there is a thread saying all 178 in Q1 pic.twitter.com/VTFQXN2cYX

— Charles Hoskinson (@IOHK_Charles) December 28, 2021

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Why is Cardano rising this week? By Benzinga Spain

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