One Small Bitcoin Rival Is Up Almost 50% So Far This Year–Here’s Why
Story by: Billy Bambrough
Bitcoin has been flatling since taking a sharp dive late last year but the market for some minor cryptocurrencies, known as altcoins, has risen—with some digital tokens making major strides.
The bitcoin price is down some 80% from its all-time highs set more than a year ago and remains trapped in a long-running bear market, dubbed crypto winter for its debilitating effect on the industry, and leaving investors and traders desperately looking for alternatives.
While some coins have been making well-publicized strides, cardano, currently the tenth largest cryptocurrency by market capitalization with a value of just over $1.5 billion, has been quietly climbing in price.
The bitcoin price has been trading sideways for months after losing ground late last year.
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Cardano, which trades its digital token under the name ADA, is up some 22% over the last seven days, breaking into the top 10 biggest cryptocurrencies by market cap. The cardano price is up a little over 30% over the last 30 days and almost 50% so far this year, according to prices from CoinMarketCap, a cryptocurrency price data tracker.
“The great crypto winter seems to be drawing to a close and we’re now seeing things start to thaw out as we enter spring,” said Mati Greenspan, senior market analyst at brokerage eToro.
Original story: http://tinyurl.com/y5tz4ahu
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