Cardano Rockets 251% in Volume as ADA Price Hits July High

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The trading volume of derivatives linked to the popular cryptocurrency Cardano (ADA) saw an abnormal spike of 251% today, according to data from CoinGlass.
In the last 24 hours, the total turnover of perpetual futures on the ADA token reached a high of $1.45 billion. By this metric, Cardano emerged as the 10th largest across the entire crypto derivatives market.
Meanwhile, the spot market for the ADA token is also booming, as, according to CoinMarketCap, it recently reached $1.24 billion, which is 188.73% higher than the day before.
At the moment, the volume-to-market cap ratio for Cardano is 11.1%, which indicates a fairly high level of trading activity.
Cardano (ADA): Price outlook
The increase in volume is likely due to the fact that the price of Cardano has been on a tear lately, rising over 31.3% since the beginning of the week. 
As a result, the price of ADA reached a high of $0.45, a level not seen since July.
What comes next for the Cardano token remains to be seen, but this parade of green candles has definitely increased the sentiment and enthusiasm for ADA among traders. 
The spike reflects a notable escalation in trading interest, positioning ADA prominently among the sector’s highest ranks.
With Cardano back in the spotlight and in the top 10 of the cryptocurrency market rankings, it will be interesting to see if this market old-timer manages to prove the critics wrong.

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Elon Musk Net Worth Hits $300B as Tesla Passes $1T Market Cap

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Elon Musk’s net worth has surpassed $300 billion, with his EV company Tesla recently breaching $1 trillion in market cap. The world’s richest man has seen his Net worth rise $11 billion in less than 24 hours, a 3.8% increase.
Musk was one of the biggest winners of the recent US election, which saw Donald Trump win a second term in office.
Trump previously made the promise to bring on the Tesla CEO to his cabinet in a new role, backing Musk as a genius. ““Let me tell you, we have a new star.
A star is born—Elon,” Trump said in his victory speech Wednesday. “[Musk is] a character, he’s a special guy, he’s a super-genius. We have to protect our geniuses—we don’t have that many of them.”
Musk’s promised role reportedly involves heading a finance domain dubbed “Department of Government Efficiency, or DOGE,“ a realm heavily invested in carrying out budgeting and financial duties.
In one of his recent interviews, Musk shared how he can easily eliminate $2 trillion worth of budget to ensure the smooth functioning of the US economy. “You think we can rip off this wasted $6.5 trillion Biden budget,” he asked. “Well, I think we can do at least $2 trillion.
Yeah, yes, two trillion. At the end of the day, you’re being taxed; you’re being taxed—all government spending is taxation.”
Tesla (TSLA) and Nvidia (NVDA) represent some of the biggest gainers after Trump’s election victory but are certainly not alone. TSLA has been the key performer, increasing 14.7% as of Thursday and trading at a $288 level.
Additionally, the value increase has only been a benefit to its market cap. The company is currently at a value of $923.199 billion post-election. The gains have helped Elon Musk’s net worth boom in the last 48 hours.
Tesla could soon encounter a surge in its stock prices, which could help the firm score a new price high. Musk’s cabinet role stint can help in making significant policy changes, which could help SpaceEx and Tesla encounter swift ecosystem growth.
Tesla stock is already up over 27% this week, seeing a 6% jump Friday alone at the start of trading. The market cap of the EV maker is up over $200 billion since the election. This surge is prompting bank firms and market experts to hike up their predictions for Tesla stock.
On Thursday, analysts at BofA Securities raised their price target on Tesla to $350 from $265, saying the U.S. election supports the company’s growth trajectory. “In our view, a Trump administration could ease regulations, supporting TSLA’s growth trajectory,” analyst John Murphy stated.

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Elon Musk recently poked fun at a well-known crypto analyst, adding a touch of humor to the crypto industry. In a light-hearted moment, Musk playfully engaged with the analyst, bringing some fun to the usually serious world of cryptocurrency.

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Elon Musk recently went back to a 2010 interview where he jokingly called CNBC’s Jim Cramer a “contraindicator,” a term that has become a meme in the cryptocurrency community. This playful reference has sparked humor among crypto enthusiasts whenever Cramer’s insights are mentioned in the industry. Musk’s revisit to this old interview added a lighthearted touch to the ongoing discussions in the cryptocurrency space.
Elon Musk’s Playful Take on CNBC’s Jim Cramer
Elon Musk, renowned for his engagement with memes and occasional meme creation, recently playfully referred to an old interview with a tweet that humorously said “Inverse Cramer.” This lighthearted comment was in response to CNBC’s Jim Cramer’s recent Bitcoin forecast, where he suggested a potential reversal in the cryptocurrency’s trend. Cramer’s predictions often face skepticism in the crypto community, as they are perceived to have the opposite effect.
Musk, known for his influential tweets capable of significantly impacting the market, seems to relish participating in the vibrant and sometimes irreverent culture of the crypto industry. His actions, especially on social media, have previously triggered substantial fluctuations in the prices of various assets. A recent example is the TROLL meme currency, which witnessed a notable surge in value following Musk’s engagement.
Cramer’s Rare Accurate Bitcoin Call and Musk’s Crypto Meme Influence
Jim Cramer’s recent Bitcoin top call, which surprisingly aligned with the actual market movement, deviated from the usual trend where his predictions become fodder for meme creators due to their widespread inaccuracy.
Elon Musk’s active involvement in the cryptocurrency meme culture is not a recent development. His tweets about Bitcoin and Dogecoin have previously wielded direct influence, impacting the prices of these assets.
However, Musk’s preferred meme coin, Dogecoin, has seen limited attention from the multi-billionaire, evident in the DOGE chart’s poor performance amid the broader market’s bullish reversal.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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$BTC price guess for TOP :
As we navigate the ever-volatile cryptocurrency market, predicting the bull top for BTC has become a topic of much debate. While some analysts are calling for a $100,000+ peak, I firmly believe that the bull top for this cycle will reach a more conservative estimate of $85,000 to $90,000.
$ETH & $SOL TOP price :
Ethereum, on the other hand, is poised to reach $10,000, while Solana and Binance Coin will likely top out at $600 and $900, respectively. It's important to note that this cycle will not see the same level of altcoin frenzy as 2021, where seemingly every alternative asset experienced astronomical gains. Instead, only a select few will provide substantial returns.
#Memes & #NFT prediction :
Memes will continue to play a significant role in the market, with constant growth and pumping. Additionally, the NFT market is expected to experience a surge sooner than anticipated.
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Furthermore, the upcoming US election results will undoubtedly impact the market, adding an extra layer of uncertainty to the already unpredictable world of cryptocurrency.
In conclusion, while some may be calling for a $100,000+ bull top for BTC, I firmly believe that a more conservative estimate of $85,000 to $90,000 is in store for this cycle. As always, it's essential to stay informed and adapt to the ever-changing market landscape.
Note :
Please keep in mind that this is a speculative article and not investment advice. Cryptocurrency investments carry risks, and it's crucial to do your own research and consider your risk tolerance before making any investment decisions.
#BTCPricePredictions