ADA’s Cardano token, the fourth-largest cryptocurrency by market value, reached new full-time points on May 13th when the bulls refused to follow a broad market downturn.
1 hour light chart for ADA / USD (Binance). Source: TradingView
ADA amazes tired traders
Data from Cointelegraph Markets Pro and TradingView confirmed new ADA / USD highs on May 13th with the pair at $ 1.96.
The move is impressive and brings Cardano closer to the psychologically important $ 2 mark.
Altcoin has followed the rally of several other major cryptocurrencies in recent weeks, but showed surprising resistance to volatility on May 13th as most tokens retreated according to Bitcoin (BTC) reversal.
Given that the ADA / USD rate that started in 2021 at only $ 0.16 was evident among traders.
“Thank you for playing,” Filbfilb, co-founder of the Decentrader trading package, told Telegram subscribers.
Philbfilb highlighted ADA’s equally optimistic behavior and outlook towards Bitcoin. The US dollar’s ADA / BTC rally brought back to the last tested resistance in June 2018.
The buzzword “energy” means that nano steals the show
However, despite the progress, the highest growth rates today were not held by Cardano, but by Nano (NANO), which traded at a cap of 125% before consolidating around $ 14.
1 hour light chart for NANO / USD (Binance). Source: TradingView
The fallout from Tesla’s refusal to use Bitcoin for payments has proven to be a boon for some digital currencies at the time of writing, which the blockchain boasts of energy-saving benefits has been the subject of endless controversy.
According to Cointelegraph, the possibility remains that Tesla will accept another cryptocurrency that matches its green business logo.