Cardano price just before the three dollar mark
Cardano (ADA), the third most important crypto currency in terms of market size, rose by a further 3.47 percent within 24 hours. The plus is now almost 40 percent per week. In addition to the prospect of the imminent upgrade on September 12, an already positive market environment is also acting as a driving force. Cryptocurrencies are still getting a tailwind from the latest plans by the US trading platform Coinbase and the payment service PayPal.
Investors now have to put more than $ 2.91 on the table for a unit of Cardano (ADA). This is also the highest level in the history of the third most important cryptocurrency, with a market size of currently around 94 billion dollars.
As a result, investors could already target the historic or mental hurdle of three dollars in the coming hours and days. An equalization of the said levels should on the one hand confirm the upward trend and on the other hand attract further groups of buyers.
Do you already know the top 10 cryptocurrencies to trade in 2021?
PayPal with accolade in the industry – transatlantic expansion of the crypto service
The expansion of the service to hold, sell and buy, among other things, Bitcoin and Ether in the UK is still grist for investors. Previously, this service was possible in the United States. Logically, the company could already announce further steps in the coming weeks and months that said offer will also be introduced in this country and nationwide in the European Union.
Bitcoin, Ether and Co have come a little closer to the mainstream since yesterday at the latest. Against this background, cryptocurrencies are gradually becoming more socially acceptable.
The latest plans by the US trading platform Coinbase also remain a topic of conversation in the markets. Last week, CEO Brian Armstrong announced that it wanted to increase its crypto holdings by $ 500 million. In the future, a total of 10 percent of the profit will be automatically put into Bitcoin and Co, it said. Even if the investment amounts only make up a third of what the electric car maker Tesla had communicated in February, the commitment should possibly serve as a blueprint for other companies.
Cardano course: these brands are what count
The stock market lights are still on green for the Cardano course from a technical as well as a fundamental perspective. Conquering the three-dollar mark remains important in order to confirm the upward trend. In addition, follow-up purchases could take place quickly, which should further accelerate the upward momentum in this context.
A setback to the support level at $ 2.50 is not surprising in view of the rapid climbing. With this in mind, profit-taking should come as no further surprise. Last but not least, regulatory concerns remain a simmering factor of uncertainty in the markets.
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