{"id":29075,"date":"2022-06-06T10:25:38","date_gmt":"2022-06-06T14:25:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=29075"},"modified":"2022-06-06T10:25:51","modified_gmt":"2022-06-06T14:25:51","slug":"heres-why-cardano-ada-will-continue-bullish-run-after-surging-14","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/heres-why-cardano-ada-will-continue-bullish-run-after-surging-14\/","title":{"rendered":"Here’s Why Cardano (ADA) Will Continue Bullish Run After Surging 14%"},"content":{"rendered":"\n
Cardano's (ADA)<\/a> witnessed a prolonged rally after a surge in NFT trading on the blockchain and positive crypto sentiment prompted further ADA purchases.<\/h5>\n\n\n\n
\"Here's<\/figure>\n\n\n\n

ADA has increased by 14% in the last 24 hours to $0.624, taking its weekly gains to approximately 22%. The token has outperformed its major crypto peers in the past week amid anticipation of a blockchain upgrade and new features.<\/p>\n\n\n\n

However, the rise in ADA on Monday appears to be fueled by increased interest in Cardano's NFT capabilities.<\/p>\n\n\n\n

Cardano surpassed Ethereum to become the third-largest NFT blockchain<\/h3>\n\n\n\n

On Monday, Cardano's daily NFT sales hit $1.3 million\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, making it the third-largest NFT player behind Solana and Ethereum.<\/p>\n\n\n\n

A major reason for this surge likely stems from users moving out of Solana into Cardano after the former's recent shutdown<\/a>. Several NFT traders expressed their dissatisfaction with the frequent Solana outages on Twitter, with some stating outright that they would switch to Cardano.<\/p>\n\n\n\n

Solana's daily NFT sales have dropped nearly 20% in the last 24 hours, to $2.4 million, according to Cryptoslam data<\/use><\/svg><\/span><\/a>. SOL, the blockchain's native token, has also underperformed the market, falling 6% in the last week.<\/p>\n\n\n\n

Cardano-based play-to-earn game Cornucopias<\/use><\/svg><\/span><\/a> land sales, currently make up a large part of the blockchain's NFT sales at nearly 5.1%. JPG Store<\/use><\/svg><\/span><\/a> is Cardano's largest NFT marketplace, accounting for over 90% of daily volumes.<\/p>\n\n\n\n

According to Cryptoslam data, the blockchain has now surpassed ImmutableX in daily sales.<\/p>\n\n\n\n

ADA gains are fueled by NFT interest and Vasil fork anticipation<\/h3>\n\n\n\n

ADA has profited from the increased NFT trade. However, the token has risen in anticipation of a major update.<\/p>\n\n\n\n

Cardano developer Charles Hoskinson said new Cardano features<\/a> will be announced later this week.<\/p>\n\n\n\n

Github data showed that the number of developers working on Cardano recently reached a record high. Large whale traders have been more interested in ADA as a result of this. Thereby contributing to the token's recent gain.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano’s (ADA) witnessed a prolonged rally after a surge in NFT trading on the blockchain and positive crypto sentiment prompted further ADA purchases. ADA has increased by 14% in the last 24 hours to $0.624, taking its weekly gains to approximately 22%. The token has outperformed its major crypto peers in the past week amid […]<\/p>\n","protected":false},"author":32,"featured_media":29080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[],"class_list":["post-29075","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/06\/cardano.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29075","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=29075"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/29075\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/29080"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=29075"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=29075"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=29075"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}