Why Cardano (ADA) Suddenly Surged 13%, Sparking Real Recovery For First Time in 8 Months

Bitcoin’s potential rise to $10,000 against the ongoing Coronavirus frenzy may have been limited by one of its rival cryptocurrency projects.Cardano, or ADA, surged by close to 10 percent against the benchmark cryptocurrency on Tuesday, registering a fresh top near 588 sats. The move pushed the ADA-to-BTC exchange rate to its eight-month high, also inching closer to a long-term technical resistance that kept the pair in an overstretched consolidation phase.The wild upside swing followed CEO Charles Hoskinson’s announcement of entering partnership PwC, a $42.4 billion global giant. The senior executive revealed that PwC could utilize Cardano’s blockchain within its network of professional services, which includes assurance, tax, and consulting to 420 out of 500 Fortune 500 companies.

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