The price of ADA touched $3 for the first time, as Cardano and Ethereum lead the cryptocurrency “super bull market cycle”


Cardano Have As altcoins made a comeback to sweep the cryptocurrency market, the tokens soared to a record high on September 2.

ADA / USD 1-day candlestick chart (Binance). Source: TradingView

Cardano joins Ethereum to make significant gains

Data from Cointelegraph Markets Pro with Transaction view During the trading session on Thursday, ADA/USD fell to US$3.06.

Cardano has shown strength for several weeks, benefiting from a broader altcoin recovery after trying to reach the $3 mark throughout the second half of August.

This move coincides with the launch of Cardano Alonzo testnet, Before the mainnet debut later this month.

At the time of writing, ADA/USD remained above $3 while breaking through $3.066 on Binance.

The weekly profit totals 17.2%, and the ether (Ethereum) despite this Stand out in the top ten The weekly rate of return of cryptocurrencies calculated by market value is 20.5%.

The trading price of ETH/USD on Thursday was close to 3,800 US dollars, about 600 US dollars lower than the all-time high set in mid-May.

ETH/USD 1-day candlestick chart (Bitstamp). Source: TradingView

Stars gather to welcome the cryptocurrency bull market

ETH started the rise of altcoins, which first appeared as Bitcoin (Bitcoin) cool down Approximately US$47,000.With BTC/USD then started Follow suit, The market seems to have a snowball effect. Among the top 50 crypto tokens that day, except for three, all the other crypto tokens are in the green state.

related: 9/1 Price analysis: BTC, ETH, ADA, BNB, XRP, DOGE, SOL, DOT, UNI, LUNA

“We are entering the second phase of this super bull market cycle, and I like it. Enjoy it,” Cointelegraph special analyst Michaël van de Poppe Summarize.

As Cointelegraph Report, Bitcoin and altcoin’s re-strength foundation seems to be in place, and the on-chain indicators and fundamentals of the former are firmly bullish.