Cardano News Today: ADA Eyes Major Bull Run After 79% Rally

The post Cardano News Today: ADA Eyes Major Bull Run After 79% Rally appeared first on Coinpedia Fintech News

The crypto market is riding high, thanks to Bitcoin’s (BTC) recent price surge above $82k, marking a new milestone. In this thriving market, Cardano (ADA), a leading layer-one blockchain, has emerged as one of the top performers.

After a massive 79% rally last week, ADA has bounced back from a support level above 32 cents, positioning it for a potential major bull run—especially if Bitcoin dominance continues to weaken.

Cardano’s performance is gaining attention. Here’s what you should know.

ADA Set for a Price Surge?

Cardano with a fully diluted market cap of about $26.6 billion and over $5 billion in daily trading volume, has shown solid price action. ADA has recently closed above the weekly 50 Moving Average (MA), signaling strength. Furthermore, the ADA/BTC pair has seen a notable rebound from its multi-year lows, which suggests ADA could be on the verge of a significant price surge.

Cardano’s Growth as a Web3 Ecosystem

Under the leadership of co-founder Charles Hoskinson, Cardano has evolved into a significant force in the Web3 space. The network now boasts more than $353 million in total value locked (TVL), a strong indicator of the growing DeFi ecosystem on Cardano. This expansion is largely due to efforts to make the network more decentralized, including the introduction of on-chain governance.

A key step in this process was the recent launch of Node 10.1.1, which sets the stage for the Chang 2 hard fork. This update will enable Cardano to fully implement on-chain governance.

Big news for the @Cardano ecosystem!