In the last 7 days the price of Cardano (ADA) has increased by 29%, according to CoinMarketCap data. Why? What has been driving the price of crypto?
The recent ADA rally started on December 24th, since then the price of crypt has increased by 56%. However, if we expand the time range, we can notice that Cardano has been increasing almost constantly since March 2020, when it reached USD 0.017.
However, in July 2020, ADA fell back after reaching USD 0.15. In fact, ADA specifically fell by 47% from July to the end of September when a slow recovery began.
Thus, ADA received a boost on November 19 from USD 0.11 to USD 0.17 in 6 days and, thus, crypt traced its path to the current price of USD 0.21, according to data from CoinMarketCap.
Obviously, we must bear in mind that, with some exceptions, the crypto market has been in the green for a few weeks now, thanks to the boost from Bitcoin after the adoption by institutional investors.
As many of you know, the fact that institutional investors are entering the crypto market through Bitcoin favors the ecosystem.
