Cardano Coin (ADA) Rises, Here's Why!

JAKARTA - Cardano crypto assets (ADA) seem to have experienced a significant increase in price performance. The increase in ADA coins coincided with the positive momentum of the crypto market since Donald Trump's election as US president replaced Joe Biden.

Evidently, the prices of Bitcoin and altcoins, including Cardano (ADA), soared. Based on Coingecko's statement, ADA prices have risen by more than 18 percent in the last 24 hours, trading at Rp6,934 per coin, on Friday, November 8, 2024.

Then, the Cardano market cap or market capitalization was also boosted to reach 19 billion US dollars (Rp294.5 trillion). Not only that, ADA's daily trading volume also increased by around 117 percent to 1.26 billion US dollars (Rp19.53 trillion). This is a positive note for ADA prices in recent days.

Several factors are the cause of rising prices for ADA crypto coins, including Trump's pro-crypto victory in the US presidential election, then cutting the Fed's interest rates. As we all know, this decision was able to encourage the entry of global liquidity into the crypto market.

Not only that, but financial activity has been centralized or DeFi on the Cardano network has also recorded a significant increase, with more than 37 thousand active addresses in the last 24 hours. Cardano's total locked value (TVL) jumped by around US$60 million (Rp930 billion) since mid-September, reaching US$257 million (Rp3.98 trillion) today, with the stablecoin sector reaching US$18 million (Rp279 billion), led by DJED.

Cardano harus bersaing dengan platform blockchain lain yang termasuk ke dalam kategori Ethereum Killer seperti Solana. Kendati begitu, pihak Cardano tidak berhenti menerapkan pengembangan untuk meningkatkan posisi Cardano sebagai platform smart contract terkemuka. Saat penulisnya, harga Cardano (ADA) ditrading di level Rp6.934 per coin berdasarkan data dari Coingecko pukul 21:57, Jumat 8 November 2024.