Thursday marks yet another day of the appropriately called super bull cycle, with the altcoin momentum resonating upon the crypto market.
A brand-new phenomenal surge occurred on September 2, where Cardano’s ADA reached a $3 price due to the bullish comeback of altcoins in the market.
Per TradingView, Cardano’s ADA was trading at 3.01 at the time of publication.
Cardano’s ADA has been going strong for the past few weeks, and the recent resurgence of altcoins made resulted in the $3 milestone which was expected to happen sometime in the second half of August.
Cardano has yet to look forward to additional moves after the imminent launch of Alonzo testnet which is keenly expected to occur on September 12.
17.2% of weekly returns were reached by Cardano’s ADA, however, Ethereum (ETH) yet again overperformed with 20.5% of weekly returns and by market cap.
With Bitcoin (BTC) falling at $47,000, Ethereum (ETH) had already made strides on the surge of altcoins, which with the rise of BTC/USD marked an overall buildup surge in the market, much like a snowball effect.