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Cardano ADA/USD has experienced an uptick, climbing 8% within the last 24 hours, a performance that has surpassed its peers Bitcoin BTC/USD and Ethereum ETH/USD , which saw increases of 1% and 6% respectively.
What Happened: At press time, ADA was trading at $0.64.
The rise comes as Santiment, an on-chain analytics firm reported that Cardano has the top coin by developed activity. The platforms has outstripped that of Polkadot DOT/USD and Polkadots canary network Kusama KSM/USD .
??? Here are #crypto’s top coins by development activity. Notable #github commits, past 30 days:
1 @cardano $ADA
2 @polkadot $DOT
3 @kusamanetwork $KSM
4 @avax $AVAX
5 @dfinity $ICP
6 @hedera $HBAR
7 @cosmos $ATOM
8 @optimismFNP $OP
9 @ethstatus $SNT
10 @chainlink $LINK pic.twitter.com/ilpWhbksj4 Santiment (@santimentfeed) December 26, 2023
Santiments assessment of development activity means tracking the projects public GitHub repositories over the last 30 days. These events include diverse interactions with the repositories, such as commits, forks, and issues, offering a broader spectrum of the development progress.
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Why It Matters: Cryptocurrency analyst Ali Martinez, weighing in on Cardanos price direction said, On the 4-hour chart, #Cardano is shaping up a symmetrical triangle! The crucial point to watch is a sustained candlestick close above $0.63.
This observation points to a possible breakout that if occurs, could set the stage for $ADA to rally toward $0.78," Ali noted.
On the 4-hour chart, #Cardano is shaping up a symmetrical triangle! The crucial point to watch is a sustained candlestick close above $0.63.
Such a move will trigger a breakout that could set the stage for $ADA to rally toward $0.78. pic.twitter.com/AKSo95k7x9 Ali (@ali_charts) December 27, 2023
Photo by Dennis Diatel on Shutterstock
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