2 months ago
Date: 13 Aug 2022 - 18:54

ADA is recently gaining momentum as it goes further up the 8216Top 10 list of largest cryptocurrencies. The asset lost its position as the 7th largest digital asset when BUSDs valuation surged past its market cap days ago. This occurred when the markets saw a sudden dip that impacted the price of ADA.Nonetheless ADA reclaimed its 7th position following a price surge as the markets picked up. The asset has not stopped there as it has now flipped XRP to become the 6th largest cryptocurrency. This comes as the assets price surged past the 0.55 resistance zone.Cardano is now the 6th largest cryptocurrencyThe market capitalization of Cardano ADA reached 19.1B on Saturday. This is the highest the assets valuation has reached in two months. The last was June 11 when its valuation dipped with failing markets. The assets market cap has not crossed the 19B mark until now.This milestone has pushed ADA past XRP on the top cryptocurrencies list by market cap which had a valuation of 18.68B. ADAs market cap has since then slightly dipped below 19B but the asset has retained the 6th spot.With a current valuation of 18.86B at the time of reporting ADA keeps its lead above XRP. Both assets have seen an impedance to their respective rallies which was expected. The recent bull market rally brought the crypto market back on its feet with BTC and ETH reaching new peaks.ADA has broken past 0.55 for the first time in 2 monthsThe surge in Cardanos market valuation was directly influenced by the increase in the assets price as triggered by the recent rally. ADA successfully broke the 0.55 resistance level after trading below it for over two months.The asset saw multiple rejections as it attempted to break the 0.50 resistance from midJune to early July. Several relief rallies propelled the assets value up but each attempt met opposition at the 0.50 level. It was not until late July that ADA began trading comfortably above the halfadollar price.August further solidified its position above this zone as the asset set its eyes on conquering the 0.55 resistance. With 0.50 as its new support ADAs next campaign had been fruitless since August 5. Despite the improving markets in August the asset never touched 0.55until recently. The recent relief rally took ADA to 0.56 before the asset slightly dropped to 0.558.At the time of writing ADA currently trades at 0.557. Should the bulls push the markets further up ADAs value could move above the 0.65 resistance as the asset has partly solidified its position above this level.

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USDT Market Price Change (24H) Market Cap Last 7 Days
39997.79 $ 0 % 760.32 Billion $
3001.33 $ 0 % 360.05 Billion $
1.001 $ 0 % 82.65 Billion $
398.86 $ 0 % 59.29 Billion $
1.004 $ 0 % 50.96 Billion $
101.49 $ 0 % 33.28 Billion $
0.122 $ 0 % 31.52 Billion $
0.7024 $ 0 % 30.96 Billion $
82.96 $ 0 % 29.44 Billion $
0.9455 $ 0 % 29.42 Billion $

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