Cardano’s ADA token surged to new all-time highs on Sep. 2 as an altcoin comeback gripped cryptocurrency markets.
ADA/USD 1-day candle chart (Binance). Source: TradingView
Cardano joins Ethereum in severe features
Data from Cointelegraph Markets Pro and TradingView confirmed ADA/USD clipping $3.06 throughout buying and selling Thursday.
Having proven power for a number of weeks, Cardano benefited from a broader altcoin resurgence after trying to hit the $3 mark all through the second half of August.
The transfer coincided with the launch of the Cardano Alonzo testnet, forward of a mainnet debut later this month.
At the time of writing, ADA/USD remained above $3 whereas taking a break at $3.066 on Binance.
Weekly features totaled 17.2%, whereas Ether (ETH) nonetheless outshined inside the top-ten cryptocurrencies by market cap with 20.5% weekly returns.
ETH/USD traded at virtually $3,800 Thursday, round $600 in need of its historic all-time highs seen in mid-May.
ETH/USD 1-day candle chart (Bitstamp). Source: TradingView
Stars align for a crypto bull run
ETH had begun the upwards strikes for altcoins, which initially happened as Bitcoin (BTC) cooled round $47,000. As BTC/USD then started to comply with swimsuit, a snowball impact appeared to enter the market, with all however three of the top-50 crypto tokens in the inexperienced on the day.
“We’re coming into the second part of this tremendous bull cycle and I prefer it. Enjoy it,” Cointelegraph contributing analyst Michaël van de Poppe summarized.
As Cointelegraph reported, the foundations look like in place for renewed power in Bitcoin and altcoins, the former’s on-chain metrics and fundamentals firmly bullish.
