"Hmm, do you think the current SOL price will continue to rise or move flat?"
After facing the fall for a long time, the price of the Cardano (ADA) currency seems to have managed to climb up to $0.37 which is the multi-month high it reached in early June 2023.
Despite the consistency of Input Output Global (IOG) which is the parent company of the protocol in driving the activities of its ecosystem developers, the price of ADA still saw a decrease to $0.26 on July 13, 2023 followed by $0.24 at the end of October.
However, ADA's massive rally has now been sparked as retail investors and whales joined hands to drive up its price further causing its trading volume to jump 24.75%.
Through observation, ADA has the potential to retest $0.40 and continue higher if the price can break through that level.
Pleased to note that IOG is considered to be the driver for ADA's price strengthening since the beginning of the year to date, the digital asset has welcomed a series of new products and services to help strengthen the functionality of blockchain operations.
Among its launched products are the DJED stablecoin algorithm, a smart contract called Mithril and Lace Wallet and ADA has also gained recognition for being the blockchain with the best developer efforts.
As of this writing, ADA price has surged by 4.27% to $0.38 in the last 24 hours with a market capitalization of $12 billion further recording a 19.15% increase over the last week.
