Holding Strong: Cardano (ADA) Broke its ATH Despite the Crypto Market Crash
Cardano (ADA) continues with its highly impressive 2021 performance after registering yet another all-time high. Interestingly, this one was quite unexpected as the rest of the crypto market is nosediving.
- Cardano entered the new year at around $0.18, but it has taken full advantage of the ongoing bull run since then.
- The cryptocurrency quickly shot above $1, entered the top ten largest digital assets by market cap, and continued heading north.
- In the following months, ADA doubled down on its impressive performance and headed into uncharted territory above $1.5.
- CryptoPotato reported roughly a week ago when the asset spiked by 20% in a day and reached an all-time high at $1.7.
- Although these 840% YTD gains were impressive on their own, ADA has kept climbing since then. Earlier today, the cryptocurrency charted yet another record at over $1.87 (on Kraken).
- This mind-blowing increase means that ADA’s price has grown by more than ten times since the start of 2021.
- Moreover, CoinGecko data shows that precisely 14 months ago – on March 13th, 2020, ADA had plummeted to its all-time low of $0.019. Since the COVID-19-induced market crash, the asset is up by about 9,400%.
- What’s also compelling about today’s record is that it came during another market-wide correction. As reported earlier, the entire market cap lost roughly $500 billion in a day after Elon Musk’s Tesla disabled bitcoin payments for its products.
- Bitcoin dumped by $12,000 in a day and most alternative coins followed suite. ETH (-13%), BNB (-13%), DOGE (-20%), XRP (-11%), BCH (-17%), and UNI (-10%) are all down from the top ten.
