Cardano Blockchain’s native cryptocurrency ADA rose nearly 3% on its charts on Monday. After staying red for nearly a week, today I went to the green green side of the spectrum. The ADA hit a high of $0.67 in the trading session that day and could shoot more. Its trading volume is growing, with more purchase pressures reaching up to $500 million.
So why is Cardano’s ada soaring in value today after staying in red for nearly a week? In this article, we highlight the developments that Cardano has made more value despite being in the bearish nails.
Cardano: ADA is listed in the Nasdaq Crypto Index
Cardano’s ADA is currently listed in the Nasdaq Crypto US Settlement Price Price Index (NCIUS), along with Ripple (XRP), Solana (Sol) and Stellar (XLM). Including these major Altcoins in the Nasdaq Crypto Index has resulted in prices skyrocketing on today’s charts.
The price of the representative Altcoin has skyrocketed after the Nasdaq Crypto Index listed Cardano’s ADA on the ticker. If it can hold momentum and fold more investments, it could rally even more. Obtaining an entry position in Altcoin can prove beneficial as development is to increase the price.
Bitcoin also hoveres the $107,500 range today, remaining on the green. If Bitcoin surpasses the $110,000 level this week, the ADA could move in parallel with price increases. However, Altcoin has remained mostly bearish this year with little or no prices.
Once the Nasdaq Crypto Index Inclusion settles, Cardano’s ADA may start to fall in value again. So now the best investment strategy is to hit when the iron gets hot, to withdraw holds after a surge and book a quick profit for the week.