On Thursday (May 6), the Cardano ($ADA) price broke $1.53 for the first time in over three weeks.
Data by TradingView indicates that on crypto exchange Kraken at around 04:33 UTC the $ADA price went above the $1.53 level for the first time since April 14 (when it got as as $1.5583, which is the current all-time high).
At 21:00 UTC on Tuesday (May 4), staking support for Cardano went live on crypto exchange Kraken. According to the exchange, which listed $ADA for trading in September 2018, it is possible to “receive initial annual staking rewards between 4-6%.”
Yesterday, Dutch crypto analyst and trader Michaël van de Poppe said that he could see Cardano’s $ADA token reaching $5.
“From a percentage standpoint, ADA has seen much larger gains than ETH during this bull market so far. It’s up almost 40X since last spring…
“ADA has been consolidating since it hit $1.50 in mid-April this year and if the momentum of the market continues along with the drop in BTC dominance, ADA will be getting its second wind sometime soon…
“If everything goes smoothly with the rollout of Cardano smart contracts in the summer, I could see ADA spiking to $3 and possibly higher if Cardano’s other partnerships work out.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.