Cardano (ADA) 25% Jump Sparks Excitement Among ADA Community as Retail FOMO Looms.
Cardano (ADA) has emerged as one of the standout altcoins in the recent crypto market rally, surging over 25% in the past three days, according to data from Santiment.
🚀 Cardano has been one of the notable surprise altcoins taking flight during this crypto-wide pump. Now up over +25% in the past 3 days, we may be seeing some retail FOMO coming soon. This has been a long time coming for the patient ADA community. pic.twitter.com/Ph2ZFFKnIU
— Santiment (@santimentfeed) November 8, 2024
This upward momentum saw Cardano break the $0.43 mark for the first time since July, fueled by significant whale transactions and heightened network activity.
The ADA network recorded 37,892 unique address transfers in a single day, marking a notable increase since its recent September 4 bottom.
Additionally, Cardano saw 697 transactions over $100,000, reflecting strong interest from large holders, or “whales,” who may be helping drive ADA’s momentum.
According to Santiment, this 25% rally suggests that retail FOMO (fear of missing out) may be on the horizon.
This is a welcome sight for the dedicated ADA community, which has been patiently awaiting a solid upward move for some time. As momentum builds, Cardano’s recent price action could pave the way for renewed interest from both retail and institutional investors.
Beyond price action, Cardano ranks fourth in notable development activity over the past 30 days, trailing only ICP, LINK, and HBAR.
🧑💻 Here are crypto's top overall coins by notable development activity the past 30 days. Directional indicators represent each project's ranking rise or fall since last month:
➡️ 1) @dfinity $ICP 🥇
➡️ 2) @chainlink $LINK 🥈
➡️ 3) @hedera $HBAR 🥉
📈 4) @cardano $ADA
📉 5)… pic.twitter.com/jPYhHB6z2G— Santiment (@santimentfeed) November 7, 2024
This sustained developer interest, combined with recent network and whale activity, has energized the ADA community, which has long awaited a strong upward move. With the potential for increased retail interest, ADA’s recent price action could signal a new phase for the Cardano network.
According to Coinmarketcap stats, Cardano is trading at $0.4329, up 18.62% in one day. Marketcap is $15.42B, up 18.66%, and volume is $900.90M, up 70.16% in 24 hours.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
