Cardano (ADA) Trades Above $0.5, Hopes to Hit $1 -Breaking
[ad_1]
Cardano (ADA), Trades above $0.5, Hops to Hit $1- The ADA rose by 12% over the 24 hours.
- BTC, and other cryptos, are currently in relief rallies.
- Cardano Ethereum USDC bridge in use
The (ADA), has achieved new milestones following the recent hurricane that hit the crypto market. CoinMarketCap’s data shows that ADA prices have risen 11% within the last 24 hour, and are trading at above $0.5150. The market capitalization of ADA is also up at above 12%.
The most widely traded cryptocurrency (BTC) is trading at $30,000. This is a 5% increase. (ETH) is slightly higher, but still trades above $1,900. That’s 7% more. These major gains across the markets show that the crypto market is generally in a relief rally after last week’s drop.
Since the price of ADA is still below its moving averages, the analysis shows a bearish trend. Nevertheless, a Twitter analyst (NYSE:) believes that ADA can easily reach $1 in a bear markets.
The $ADA could rally as high as $1, and remain in a bearish market. However, it is possible that the bottom has already reached. As they process increasingly bad economic news, all eyes will be on the Fed.
— Card₳no Dan ADA (@CardanoDan) May 30, 2022
Relative Strength Index is (RSI) in Oversold Territory, meaning that bears continue to control the market.
Also, Cardano-Ethereum USDC is now available. Milkomeda can be used by investors to transfer USDC from Ethereum into Cardano Blockchain. First, convert your USDC to Ethereum and then to Milkomeda. Then you can transfer it to Cardano Native Asset.
To swap milkAda tokens, the user should have at least four in their wallets. A user can use ADA to send ADA from their Cardano wallets to their EVM wallets and get their tokens if they do not have sufficient or enough milkAda tokens.
[ad_2]