Cardano (ADA) Gains Momentum as Bullish Sentiment Builds—Is a Price Surge Imminent?
Cardano’s ADA is riding a wave of optimism as market sentiment turns bullish. With developers pushing upgrades and institutional interest creeping in, the stage might be set for a rally.
Key drivers? The network’s recent tech upgrades—plus that classic crypto FOMO when Bitcoin starts flexing. Traders are eyeing key resistance levels, though skeptics whisper about ’ghost chains’ and vaporware. Still, ADA’s community isn’t blinking.
If the momentum holds, we could see a breakout. Or just another ’number go up’ illusion—Wall Street’s got nothing on crypto’s talent for hopium.
- Out of all cryptos, Cardano (ADA) has become the second most favored, with 91.9% of supporters voting for it.
- ADA is seen in a more favorable light by the community than Ethereum and Solana, even though it received fewer votes than Bitcoin.
- Even though ADA’s price has gone down lately, continued hope among investors means a rally is approaching.
There is rising interest from crypto users, as recent data shows that the crypto community is confident about Cardano’s (ADA) long-term potential. ADA now ranks as the second most voted cryptocurrency by users, with Bitcoin coming first.
91.9% of those who voted think the price of ADA is set to go up. As a result, ADA is the cryptocurrency with the fourth-strongest positive attitude overall, showing the community is positive about what lies ahead for this blockchain.
Experts are Showing More Excitement About Cardano than Ethereum
ADA’s current position in market sentiment is especially impressive when compared to other major cryptocurrencies. This is because Bitcoin had almost five times more votes than Cardano, but its positive sentiment wasn’t as strong.
Source: X @Cardanians_io
Ethereum ranked third with 3,814 votes, but only 89.9% of them were bullish—lower than the top two. Other popular coins like Pi, XRP, Polkadot, Solana, and Pepe also had less positive sentiment than Cardano.
Cardano Ecosystem is Still Very Much Trusted by Investors
Looking at a separate list that focuses only on a positive sentiment, Cardano ranked fourth on a list with BitTorrent (New) taking the top spot with 94.4% bullish votes. Ethena and XDC Network followed with 94.0% and 92.1% respectively, just ahead of Cardano.
There is significant community backing for ADA. Right now, it is trading at $0.7585, having fallen by 2.07% over the last 24 hours and 6.8% in the last 14 days. Investor attitudes about ADA are still positive despite its recent price drops.
TapTools data shows that Cardano’s number of daily transactions has gone from close to 30,000 at the start of the month to more than 50,000. The network managed to handle more than $680 million in a single day, proving that interest in this blockchain is increasing.
This uptick in transactions coincides with the crypto community awaiting a crucial decision from the U.S. Securities and Exchange Commission (SEC) regarding the approval of a spot ADA ETF. The US regulator will make a decision on this ETF proposal on May 29.
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