WHY IS CARDANO GOING UP?
This morning, Cardano peaked at $1.38 (99p) but has since dropped slightly to $1.33 (96p). However, it’s not as high as it was on April 14, when the cryptocurrency hit $1.56 (£1.12).
Mark Hipperson, founder of cryptocurrency exchange firm Ziglu, explained that it’s the sixth largest cryptocurrency with a market cap of around $45billion (£32billion).
Over the past 52 weeks, its valuation has increased by 3,360% and since January 1 2021, it has increased 568% in value.
Comparatively, Bitcoin has gone up by 706% and 93% during the same time, while Ethereum has risen by 1,194% and 204%.
“The cryptocurrency has seen incredible growth in recent months, which has raised the attention of a number of crypto enthusiasts,” he said.
