The third-largest altcoin is following its own bullish path with new dollar all-time highs and a three-year high against Bitcoin.

Cardano (ADA), the fourth-largest cryptocurrency, hit new all-time highs on May 13 as bulls refused to follow the broad market downtrend. 

ADA wows weary traders

Data from Cointelegraph Markets Pro and TradingView confirmed new record highs for ADA/USD on Thursday, with the pair touching $1.96.

The move is impressive and brings Cardano within inches of the psychologically significant $2 landmark.

The altcoin had followed many other large-cap cryptocurrencies higher in previous weeks, but Thursday showed a surprising resilience to volatility as most tokens fell in line with a reversal in Bitcoin (BTC).

With ADA/USD starting 2021 at just $0.16, excitement was clear among traders. 

"Thanks for playing," Filbfilb, co-founder of trading suite Decentrader, summarized to Telegram subscribers on the day.

Filbfilb highlighted equally bullish behavior and prognosis for Cardano against Bitcoin. The USD high brought ADA/BTC back to a resistance level last tested in June 2018. 

Buzzword "energy" sees Nano steal the show

Despite its progress, however, the day's hottest gains did not belong to Cardano, but Nano (NANO), which traded up by a maximum of 125% before consolidating near $14.

NANO/USD 1-hour candle chart (Binance). Source: Tradingview

The fallout of Tesla dropping Bitcoin for payments was still proving to be a boon for some altcoins at the time of writing — and which blockchain could boast energy-saving advantages was the topic of endless debate.

As Cointelegraph reported, the possibility remains that Tesla could adopt a different cryptocurrency, one which suited its mantra on eco-friendly business.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

SafeMoon looks to climb 20%

SafeMoon price shows a resurgence of bulls that have kept it from heading lower. Instead, SAFEMOON has ricocheted off the support level and might continue to rise if the buyers persist.

More SafeMoon News

Ethereum price prepares for a bullish weekend, targeting $3,000

Ethereum price seems prime to revisit $3,000. Although ETH faces resistance at $2,300, the upswing seems imminent. A downswing below $2,000 could invalidate the bullish thesis. 

More Ethereum News

VeChain forms potential bottom, eyes 30% upswing

VeChain price retraces to a stable demand level as investors book profits after a minor upswing. VET will face an uphill battle with multiple swing highs to take out. Therefore, investors can expect this rally to be a slow run-up.

More VeChain News

Bitcoin goes through range of emotions, from legal tender to Chinese miners exodus

Bitcoin price rallied wildly on the news of it becoming legal tender in El Salvador, but China’s clampdown on miners was equally palpable. BTC seems to be taking a breather before its uptrend resumes.

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES



Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP