ADA is up 13% in Tuesday’s early deals whilst Bitcoin and Ethereum hover near their recently set highs.
Cardano outpaced Bitcoin and Ethereum in Tuesday’s early deals, prompting hopes among alt-coin traders that ADA will play catch-up.
The price of Cardano’s ADA token was up 13% at US$2.30 – whilst Bitcoin and Ethereum hovered near their latest highs, up 3.6% at US$68,037 and up 1.8% at US$4,804 respectively.
Cardano has largely sat out the recent crypto bullishness with something of a hangover after an earlier price surge in parallel with its September tech upgrade that added smart contracts – though, technically, most of the decentralised apps on the platform have yet to fully launch and scale.
It remains to be seen whether ADA’s run higher will be sustained, but, a like-for-like look at the ‘top cryptos’ board would suggest it has lots of catching up to do, after missing out entirely on the ‘Uptober’ boost seen in Bitcoin and Ethereum.
Bitcoin is up some 57% since the start of October, rising from around US$43,400, and, Ethereum has gained 48% from around US$3,234 in the past five weeks, whereas over the same period Cardano has languished comparatively. After this morning’s 13% rally, the Cardano is up only 3% since the start of August.
Cardano set its all-time high in early September at around US$3.07 (after starting 2021 at only 17.8 cents).
