Cardano’s ADA token, the fourth-largest cryptocurrency by market capitalization, hit new all-time highs on Could 13 as bulls refused to comply with the broad market downtrend. 

ADA/USD 1-hour candle chart (Binance). Supply: TradingView

ADA wows weary merchants

Information from Cointelegraph Markets Pro and TradingView confirmed new file highs for ADA/USD on Could 13, with the pair touching $1.96.

The transfer is spectacular and brings Cardano inside inches of the psychologically important $2 landmark.

The altcoin had followed many other large-cap cryptocurrencies higher in earlier weeks, however Could 13 confirmed a shocking resilience to volatility, as most tokens fell in line with a reversal in Bitcoin (BTC).

With ADA/USD beginning 2021 at simply $0.16, pleasure was clear amongst merchants.

“Thanks for taking part in,” Filbfilb, co-founder of buying and selling suite Decentrader, summarized to Telegram subscribers.

Filbfilb highlighted equally bullish habits and prognosis for ADA towards Bitcoin. The U.S. greenback excessive introduced ADA/BTC again to a resistance stage final examined in June 2018.

Buzzword “vitality” sees Nano steal the present

Regardless of its progress, nonetheless, the day’s hottest positive factors didn’t belong to Cardano, however Nano (NANO), which traded up by a most of 125% earlier than consolidating close to $14.

NANO/USD 1-hour candle chart (Binance). Supply: TradingView

The fallout of Tesla dropping Bitcoin for funds was nonetheless proving to be a boon for some altcoins on the time of writing — and which blockchain may boast energy-saving benefits was the subject of infinite debate.

As Cointelegraph reported, the possibility remains that Tesla could adopt a different cryptocurrency, one that suits its mantra on eco-friendly business.