• The crypto market has been on a bullish trend in the past few days and Cardano (ADA) has followed suit.
• ADA has spiked by over 15% in the past 24 hours due to recent positive news, including the DeFi TVL tapping a two-month high and the co-founder Charles Hokingson announcing an upcoming launch of a hospital that will accept ADA as a payment method in February.
• Cardano (ADA) began the year with a trading price of about $0.24 and currently trades at $0.3283.
The crypto market has been on an impressive bullish trend in recent days, and Cardano (ADA) is no exception. In the past 24 hours alone, the digital asset has surged by over 15%, a feat that can be attributed to recent positive news surrounding the coin.
The DeFi TVL tapping a two-month high and the announcement of an upcoming launch of a hospital that will accept ADA as a payment method in February are both indicators of the coin’s growing popularity and strength. At the beginning of the year, Cardano (ADA) was trading at around $0.24, and now it is up to $0.3283.
Analytics platform Santiment recently reported that ADA was undervalued, given the indicated whale accumulation and bear exhaustion. The whales and sharks who hold between 100,000 to 10 million ADA are still actively accumulating, and the weekend saw ADA taking all the liquidity and climbing above every resistance level on the upside.
These bullish trends have been an encouraging sign for ADA traders and a good sign of things to come. With the upcoming launch of the hospital that will accept ADA as a payment method, it is likely that the coin will continue to grow in value. If the positive news continues, Cardano could hit new highs and be a major player in the crypto market.