Cardano Price: ADA Extends Weekend Gains, Up By 8%. Sunday, December 2nd
Cardano Extends Weekend Gains, Up By 8%
As we head to the end of the weekend, the market is still positive. Most coins have been able to keep their end of the week gains and in several instances extend their gains. For Cardano, the coin is extending its gains by a mile. After an initial surge on November 29 that saw the coin hit $0.043, the coin has been retesting this position. However, thus far the bulls have been unable to break past it.
ADA/USD Price Chart, Sunday December 2nd:
Cardano was just seven days ago trading in the $0.032 lows making Cardano one of the best performers of the week. This surge comes in anticipation of the project releasing their latest Cardano 1.4 update. According to Charles Hoskinson, the update was expected in late November or early December. The release of this update could see Cardano further extend its gains in the coming days.
There is also anticipation that the coin might be listed on Coinbase. On July 13, Coinbase announced that it was exploring listing Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). So far, the exchange has listed three of the five and only Stellar and Cardano remain. Many speculate that Cardano could be next. If so, the “Coinbase effect” would see prices dramatically surge.
As we approach the end of the year, it seems Cardano might be on its way to ending the year on a high. The momentum will see it go into 2019 strong. Given that Cardano hasn’t yet released its complete version, this makes its achievements so far impressive. However, this also poses some danger. When finally released as a complete product, it could fail to impress and see prices fall. There are however no signs that this could be the case since everything is fitting perfectly for the project.
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