- Reaction score
ADA broke out of a flag-and-pole pattern last week to post a 12% rally. If the pattern is fulfilled, the target for the flag-and-pole lies at $3.05.
ADA has been one of the best performing cryptocurrencies in August, shattering its all-time high and moving into third by market cap. The reason has been attributed to Cardano's impending smart contracts update "Alonzo," a development which would see it compete directly with Ethereum.
However, last week, another update grabbed eyeballs. Cardano is set to launch the testnet of an ERC-20 migration tool this week, enabling users to transfer their Ethereum-based tokens to the Cardano blockchain.
In the last 6 weeks, SOL has rallied by a whopping 220%, reaching its all-time high of $88 last week. The latest rally is being attributed to a significant development: digital asset management firm Osprey Funds registered a Solana fund with the SEC last week, potentially exposing it to institutional investors. With projects past, present, and future promising to add massive value to the Solana blockchain, it could only go higher.