The entire cryptocurrency market was painted green, and most assets have seen pocketing gains. Cardano (ADA) took a beating earlier this year, being kicked out of the coveted top 10. Assets like Toncoin (TON) and Tron (TRX) were seen taking the lead. As ADA’s market cap shrunk to $12.13 billion, the altcoin was the 11th largest cryptocurrency.
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Looking Into Cardano’s Current Market
The asset was seen mildly benefitting from the overall increase in the cryptocurrency market. Cardano witnessed a rise of 2.22% over the past 24 hours and was trading at $0.3466 during the time of writing. ADA’s price did not record a major boost like the rest of the market. The asset went from a low of $0.3327 to a high of $0.350.
At present, Bitcoin (BTC) is leading the cryptocurrency rally. Several believe that other assets in the market will benefit from this. The Cardano market could definitely use some momentum. According to data from IntoTheBlock, about 76% of the asset’s investors were drowning in losses. Only 22% of them were making money at the ADA’s current price.
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When Will Bitcoin Reclaim Its Peak?
Data from CoinCodex revealed that Bitcoin will surge to its all-time high of $73,750.07 on the last day of the month. The firm suggested that BTC will reach a high of $77,497 on October 31. At the same time, the community is betting on ADA to surge to a high of $0.50.
Sadly, the Cardano market does not have room for bulls yet. The asset will reportedly trade at a low of $0.330453 on the same day that Bitcoin reclaims its all-time high.
The Cardano market has been moving sideways for a while now. This trend seems likely to continue despite the increased growth of other assets in the cryptocurrency market.
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