The entire cryptocurrency market is now recovering after a recent drop that pushed Bitcoin (BTC) below $9,000 for a brief period of time. Today, the market is now operating in positive territory with Bitcoin registering a 4.58% increase. Surprisingly, ADA surged by almost 10% in the last 24 hours.
Cryptocurrencies Operate In Green
Bitcoin was able to come back to $9,000 and rapidly move to $9,500 after yesterday’s price drop to $8.895. The entire crypto market moved down and many digital assets fell even more than Bitcoin, which shows the largest digital currency continues to be the leader in the market.
Now, Ethereum (ETH), XRP, Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC), Binance Coin (BNB) and EOS, are registering gains in 24 hours. This shows the entire market is now turning bullish again.
Indeed, the recent drop below $9,000 for Bitcoin showed that once the digital asset falls there are buyers ready to sustain these levels. It will be certainly important to see how this will continue in the coming days and whether the recent price increase was good for Bitcoin to finally surpass and stay above $10,000.
Cardano Takes The Lead
The surprising thing is that Cardano (ADA) was able to recover the top 10 after surpassing Crypto.com Coin (CRO). Now, Cardano is expanding by almost 10% and it can be acquired for $0.0788 and it has a market capitalization of $2.04 billion. In the last 24 hours, Cardano registered a trading volume of $313 million.
Cardano and the team behind this virtual currency are working in order to offer users the possibility to have a functional network with innovative solutions and services. Currently, there are more than 200 stake pools on the Shelley testnet. At the moment, the network is being tested and making all the necessary improvements before they release the official version to the market.
Charles Hoskinson, the founder of Cardano is definitely bullish about the future of the virtual currency and the network. He stated that in August, hundreds of operators will be running Cardano. He continued that in a few years, thousands of operators will be working with it and also with Hydra channels, Oracles and many other decentralized solutions and services.
In August, hundreds of operators like these will be running Cardano. In a few years, thousands also with Hydra channels, Oracles and dozens of other decentralized services. That's true decentralization, resilience and progress. Thanks Ouroboros https://t.co/Liu4StCmyP
— Charles Hoskinson (@IOHK_Charles) June 14, 2020