Cardano (ADA) is up 70% YTD but still isn’t the best performing coin of 2020

2020-2-5 23:00

Major developments within the company and an array of new projects and partnerships have put Cardano (ADA) among the top 10 coins by market cap. However, even with a 70 percent YTD rise and a 62 percent 30-day growth, the coin’s growth pales in comparison with the pumps both BSV and BCH have seen.

ADA sees major price surges in 2020

After almost two years of price stagnation, ADA seems to have caught a very bullish wave. Cardano’s native cryptocurrency has seen its value surge in the new year, recording a year-to-date increase of more than 70 percent.

Graph showing YTD price chart for Cardano (ADA). (Source: CoinMarketCap)

Apart from a few minor consolidations, ADA’s price has been almost consistently up in 2020. While the first few days of January showed the most forceful growth, the price for Cardano’s native cryptocurrency grew by 62.4 percent in the past 30 days alone.

Graph showing a 30-day price chart for Cardano (ADA). (Source: CryptoSlate ADA) Cardano’s new partnerships boost its weekly growth

Cardano’s partnership with consulting and auditing giant PwC has been in the works for a long time, but it wasn’t until it was officially announced that the coin saw a major spike in price. The consulting company is set to hold a workshop this month where they will present a strategy that will consolidate the works of Cardano, the Cardano Foundation, and Cardano’s venture arm Emurgo.

The company’s ambitious plans for the coming months have created an incredibly strong bullish momentum for the Cardano community.

The news about the partnership was enough to push the stagnating coin’s price by more than 15 percent in minutes and the buying pressure hasn’t eased one bit since then. Last week has been one of the more turbulent ones in the past month, but even the coin’s slowest growth increased its price by 14 percent.

Graph showing a 7-day price chart for Cardano (ADA)

However,  Cardano’s organic rise pales in comparison with the incredible pumps Bitcoin Cash (BCH) and Bitcoin SV (BSV) have seen this year.

The more controversial of the two, BSV has seen its price rise by almost 180 percent since Jan. 1, 2020 due to controversy surrounding the Wright v. Kleiman trial.

Graph showing YTD price chart for BSV. (Source: CryptoSlate BSV)

The major pump BSV has seen this year overshadows the rise of Bitcoin Cash, which saw its price increase by over 86 percent in the past 35 days.

Graph showing YTD price chart for Bitcoin Cash. (Source: CryptoSlate BCH)

The post Cardano (ADA) is up 70% YTD but still isn’t the best performing coin of 2020 appeared first on CryptoSlate.

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