Cardano Hits 5-Month High As Bitcoin, Ethereum Hover Near Record Price

Key Points

1. Cardano (ADA) has surged 10.7% in 24 hours and briefly surpassed $1, while Ethereum (ETH) is nearing its all-time high, just 3.6% away.

2. Cardano's ADA is the top weekly performer among the top 100 cryptocurrencies by market capitalization.

3. A two-month-long airdrop called the Glacier Drop has begun distributing NIGHT tokens across eight blockchains, including Cardano.

4. Ethereum's price surge is attributed to low profit-taking, with predictions suggesting a high chance of reaching $5,000 by year-end.

5. Other notable performers include Solana (up 17.1%), BNB (up 10.8%), and OKB (up over 128% due to supply reduction by OKX).

6. The market has seen significant liquidations, with $245 million in short positions and $235 million in longs liquidated in the past day.