Cardano (ADA), the fourth largest cryptocurrency, hit new highs on May 13 as the bulls refused to follow the broad downtrend in the market.
ADA inspires tired traders
Data from Cointelegraph Markets Pro and TradingView confirmed new record highs for ADA / USD on Thursday, with the pair hitting $ 1.96.
The move is impressive and puts Cardano just inches away from the psychologically significant $ 2 landmark.
The altcoin had followed many other large capitalization cryptocurrencies in the past few weeks, but Thursday showed surprising resilience to volatility as most tokens fell in line with a bitcoin (BTC) reversal.
With ADA / USD at just $ 0.16 as of 2021, the excitement among traders was evident.
“Thanks for playing,” said Filbfilb, co-founder of the Decentrader trading suite, summing up Telegram subscribers that day.
Filbfilb highlighted Cardano’s equally optimistic behavior and prognosis towards Bitcoin. The USD high brought ADA / BTC back to resistance levels last tested in June 2018.
The catchphrase “energy” sees nano steal the show
Despite its strides, the day’s hottest gains didn’t belong to Cardano, but Nano (NANO), which gained a maximum of 125% before consolidating near $ 14.
Tesla’s fallout, which dropped Bitcoin for payments, still turned out to be a boon to some altcoins at the time of writing – and what blockchain could offer energy-saving benefits has been the subject of endless debate.
As Cointelegraph reported, there is still a possibility that Tesla will adopt a different cryptocurrency that matches its mantra of eco-friendly business.