Cardano Resurrection
Cardano was one of the A-list cryptocurrencies that had a very bad performance in 2022. The major cause of the decline of Cardano in 2022 was the collapse of FTX, which caused the coin to close the year at the price of around $0.24. It is also important to note that after the FTX collapse, Cardano declined by more than 33%.
However, it seems like things might be getting better for Cardano in 2023; there's some sort of resurrection going on with the cryptocurrency. According to data provided by Coinmarketcap.com, the cryptocurrency traded above $0.37 yesterday. This is a very good sign post-FTX.
However, the next question that springs up from this crypto news is, can Cardano sustain the new price surge? Since the start of the year, the price of Cardano has increased by about 44%. Cardano sustaining its price increase now majorly depends on the price of Bitcoin in the market.
Most cryptocurrencies have been on the rise since the apex cryptocurrency started its latest bullish trend.
