Cardano (ADA) Among Top Movers on Robinhood for the Week

The asset is witnessing a 10.15% gain in the past seven days.

Cardano (ADA) has made it to Robinhood’s weekly list of biggest-gaining assets for the first time in almost two months. The asset witnessed notable bullish developments this week that catalyzed its rally to a high of $0.4079 on Friday.

Robinhood highlighted ADA’s bullish position in its weekly report of the digital asset scene on Friday. Notably, Cardano secured the second position on the trading platform’s list of highest-gaining assets in the past week, with a 9% weekly appreciation at the time of Robinhood’s disclosure.

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— Robinhood (@RobinhoodApp) March 31, 2023

The asset is only second to Stellar (XLM), which boasts a 17.2% gain in the past seven days. This marked the first time ADA secured a position in Robinhood’s weekly list of biggest movers in March and the last eight weeks. The last time ADA made it to the much-coveted list was on Feb. 4.

Following Robinhood’s latest disclosure, Cardano has added a few more cents to its value, currently witnessing an impressive 10.15% gain in the past seven days, per data from CoinMarketCap. This makes it one of the biggest gainers among the top 20 largest assets in the past week, second only to XRP.

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ADA’s current rally became more apparent on March 28 when the asset was changing hands at $0.360. It soared to a monthly high of $0.4079 on March 31 before facing a hurdle in its upsurge. With a current value of $0.3967 at the time of reporting, ADA has gained by 10.1% in four days. The asset aims to hold its ground above the $0.40 level.

Cardano’s Bullish Developments

This uptrend has been partly fueled by several bullish developments surrounding the Cardano ecosystem this week. As previously reported, Milkomeda plans to add a feature to the Milkomeda C1, its Cardano-based EVM sidechain, allowing Cardano users to use EVM-based smart contracts on any Cardano wallet.

Moreover, Cardano finally crossed the 4-million wallet mark on March 21, as it welcomed over 49,000 wallet addresses in March. In addition, the Cardano network crossed some notable thresholds this week, including a cumulative 63.9M total transactions and 1,221 projects building on the blockchain.

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