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ADA · 19w

Cardano registers new listings to attract mass adoption

Cardano (ADA) and Stellar (XLM), the 11th and 12th top cryptocurrencies by market cap respectively, have taken quite a beating in the past week.

The weekly charts for both crypto assets show that they have both declined significantly and are a long way away from their year-to-date high of $0.097 and $0.144 respectively. Let’s take a quick look at each.

ADA’s Price Has Declined During the Past Week

According to CoinMarketCap, ADA is currently valued at $0.077463 which is 2.40% decrement in price within the past 24 hours. A perfect picture of what an unimpressive performance that is, can be gotten from looking at the virtual asset’s price movement in the past week.

On Sunday, June 30, 2019, exactly a week ago, ADA opened at $0.090486 but dumped to $0.082098 at the close of the day. While that may have been like any other day in the crypto market, there was a repeat of the unremarkable performance the next day.

That is to say, ADA traded sideways on Monday, July 1, 2019, given that it was priced between $0.080504 and $0.085895 with neither a significant dump or spike in price or the bulls or bear taking control of the market. The virtual asset also failed to take a leap to retest the $0.09 range which it had traded for about 19 days between June and July 2019. 

ADA Has Mostly Traded Between $0.076 and $0.077 for the Past 3 Days

On Tuesday, July 2, 2019, the same steady price movement was maintained even though this time around, ADA traded as low as $0.076777. Its high for the said date was $0.084598 after opening at $0.083800. It’s however worthy to note that the asset maintained the $0.08 price range until Thursday, July 4, 2019, before it declined to $0.075 – $0.077, a range it has mostly been trading in for the past three days.

What’s also evident in ADA’s performance in the past week, is that its daily trading volume and market cap has dwindled tremendously. As of June 30, 2019, the daily trading volume was aro...

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