Why did Cardano spike today?

Swiss cryptocurrency Cardano (ADA) witnessed a price surge of nearly 100 percent in seven days in early February 2021, amid high interest from investors. One reason for this interest is the digital coin’s close relation to Ethereum (ETH) , as mathematician Charles Hoskinson co-founded both virtual currencies.

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Why has Cardano price increased?

Swiss cryptocurrency Cardano (ADA) witnessed a price surge of nearly 100 percent in seven days in early February 2021, amid high interest from investors. One reason for this interest is the digital coin’s close relation to Ethereum (ETH) , as mathematician Charles Hoskinson co-founded both virtual currencies.

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Why did Cardano prices go up?

“The biggest factor driving this price movement is that Cardano just saw a big influx of tokens into staking pools ,” he stated. “Once traders saw this influx they appeared to have started buying in relatively large numbers. Naturally, the price surged and might continue to do so if this apparent micro rally continues.”

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