Cardano attracts increased attention from cryptocurrency traders again: in the last 24 hours, ADA accounted for about 5% of the total trading volume. For one day, the ADA rose more than 22% compared to the peak and by 75% for the week.
Let’s find out the possible reasons for this growth.
Read more: https://hype.codes/cardano-surges-binance-lists-ada
What in your opinion were the reasons for this growth?
perhaps this had some influence…
Binance Adds ADA/BNB and ADA/USDT Trading Pairs
The largest Chinese exchange started trading ADA today after an announcement yesterday:
https://www.huobi.pro/notice_detail/?id=1332
It’s everywhere:
I don’t think the Binance BNB/USDT new pairs had much effect personally.
Yup, that started the second pump. Rally started exactly on twitter announcement.
The first pump was us catching up to EOS, and ETH/BTC rallying… and I believe the EOS thing is still in play. EOS and ETH are also network blockchains, and they all set the precedence for valuations. EOS being much closer to our current state of things… and Its unlikely as of now EOS will be valued at more than ADA for any significant period of time.
@RickNolan and and once something rallies, it just keeps feeding on itself. The reason/news are just triggers, the market was set up for these things way before that… Rallies are rarely caused by the actual news, and in this case it certainty wasn’t.
ADA will be listed on all relevant exchanges, so no listing should come as a surprise, unless Its coinbase. That is probably the only exclusive exchange that would be hard to list on, and would mean a lot. Now they might become less exclusive with time, but for now thats where it stands. The more they list, the less they will mean, the reason they add a ton of retail liquidity is because of their small amount of choice.
I think you underestimate the exhanges and their role hence impact.
A key milestone on the road to be utilized as an actual currency is ada to fiat which is something that few exhanges offer and to even fewer crypto currencies.
In terms of expectations vs. realization i think it is reasonable to compare with stock market for once. Realization of expectations matters. Always - both ways.
I’m going to add in me two cents here. I’ve been studying the crypto markets for about a year now. I tried applying technical analysis, but failed due to the respect that trading volume is low and markets are still immature. Most technical analysis FAILS, but not all.
So what does this mean… It means that fundamentals are the driving force of this market (Money flow), but how do you quantify this??? On-Balance Volume (Thank me later when you traders are making $$$) On-Balance volume is the idea of quantifying institutional money flowing in and out of the markets.
If you take a look at the attachment, we see a massive influx of money flowing into the markets RIGHT NOW! The OBV is displaying an influx of money similar to that back in January when we were still in the down trend. Now this is the exciting part. See how the two red circles on the OBV indicator are about equal? Now look to see where the price is now versus back in January. The discrepancy should put the price equal to roughly 0.60 cents. 3 times the current value now!!! Your welcome.
All opinions in this article are my own, and should not be taken as financial or investing advice. You should invest or trade at your own risk.
