Crypto
ADA Price Surges 2.09% Amidst Bitcoin Rally and Whale Accumulation
Cardano's ADA price surged 2.09% in 24 hours, mirroring Bitcoin's record high and altcoin momentum across the market.
The rally was led by Bitcoin, which hit a new all-time high of $112,152 on July 9-10, driving up the broader crypto market cap by 1.65% in 24 hours.
Whales accumulated 120M ADA tokens worth $3.3B in recent weeks, reducing sell pressure and contributing to the price increase.
The technical context also points to bullish momentum, with a weekly golden cross, where the 50-week moving average crosses above the 200-week moving average, signaling potential trend reversal.