Bitcoin reacted rather well to the drop to $44,000 and added $3,000 of value in hours. Some altcoins, though, have outperformed their leader again, including Cardano. ADA exploded by about 20% earlier and charted a new all-time high above $2.5.
It’s safe to say that Cardano’s native cryptocurrency has been among the best performers lately. Back on July 20th, ADA dropped below $1 briefly during the market correction, but since then has been on a tear. In a few weeks, it doubled its value and reclaimed $2.
Aside from a few more fluctuations down the road, it kept climbing and earlier today painted a new all-time high record of about $2.54 (on Bitstamp). Despite retracing slightly since then, ADA has solidified its position as the third-largest cryptocurrency by market cap.
Ethereum, the second-largest, is up by 7% on the day and has reclaimed $3,200. Binance Coin, despite losing its positioning to ADA, has surged by 6% to above $420.