Why Cardano Is on the Move Higher Today
Today, investors in top cryptocurrency Cardano (CRYPTO: ADA) are finally seeing some green. As of 11:15 a.m. ET, Cardano has appreciated 4.8%, reversing part of its losses from the past week.
Over the past seven days, Cardano remains down 12.1%, as investors price in headwinds relating to transaction issues on key exchanges such as Coinbase Global (NASDAQ: COIN). As was reported yesterday, transfers to and from the crypto exchange had been disabled for at least a portion of a few trading days, but these issues appear to be resolved at the time of this writing.
The resolution of these issues, along with strong price action in the crypto market today, appear to be propelling investor sentiment higher. Currently, the entire crypto market has gained 2.9% over the past 24 hours, with beaten-up tokens such as Cardano seeing outsized gains today.
Source Fool.com
