The world’s first cryptocurrency Bitcoin seems to be heading to the moon indeed. In the past weeks, Bitcoin has been in the news, climbing new all-time-highs and shutting up its skeptics. The bullish Bitcoin trend has been fueled by the story about the entry of critical institutional investors like the U.S based CME Group, Man group and much more into the Bitcoin ecosystem. It is important to note that the France based TOBAM Asset Management Company has already started offering Bitcoin-related services. The Bitcoin analysts and market enthusiasts have predicted the Bitcoin strong rally to continue well into 2018. At press time, Bitcoin price is at $11,189 for the first time in its life! With a market capitalization of $186.97 billion. It’s undoubtedly a period of the bountiful harvest for Bitcoin investors.
Cardano Tokens Reach For The Sky
While Bitcoin is busy chasing the moon, Cardano (ADA) token surged towards the sky as well. In the 24 hour timeframe, Cardano made an ROI of 142.41%, taking Cardano market capitalization to $.3.5 billion. It is important to note that the Cardano ADA token has a fluid supply of $25.9 billion and its maximum supply is 45 billion. The crypto’s price skyrocketed from below $0.03 to over $0.14 in the weekly timeframe. However, at press time, the Cardano price has witnessed a minor price correction to about $0.09 with a total market cap of $2.95. Cardano currently sits at number 11 spot on Coinmarketcap.
Probable Factors Behind Cardano Surge
The surge could be partly due to Cardano ADA exchange partners Bittrex adding the ETH ADA trading pair on its platform. Cardano announced the news on its twitter handle @cardanocom. the tweet read thus “Our exchange partner Bittrex have just added a new pairing between ADA and ETH!.” Some Cardano enthusiasts are also of the opinion that the surge could be due to investors’ anticipation of the project’s next roadmap announcement which is expected this weekend.
It is pertinent to note that Cardano has entered into a partnership with some heavyweights in the crypto space like IHOK cryptocurrency development company, academics and reputable Cryptographers including the co-founder of Ethereum, Charles Hoskinson.