Cardano flying on a record high amid top American singer’s buy

The sixth most valuable crypto asset, Cardano, is enjoying strong demand among investors as it trades above $1.003702, up 16% on the day. It was the biggest percentage gain since February 10.

Highly celebrated singer, Gene Simmons, recently voiced his admiration for (ADA) via Twitter after tweeting that he had purchased $300,000 of the cryptocurrency.

The Kiss bassist revealed he believed in Cardano thanks to its high affordability compared with other crypto assets.

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I just bought $300,000 of CARDANO (ADA). I’m not a Financial Analyst and I’m not telling U to buy or not to buy. Simply letting U know what I am doing and what I believe in. Why? Because I believe it’s going up..and it’s always up to you to research & decide. pic.twitter.com/UiIqowJ4pY

— Gene Simmons (@genesimmons) February 19, 2021

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It’s now the sixth most valuable crypto asset with a market value of $32.6 billion.

Such gains pushed the market value of Cardano to $29 billion or 1.69% of the total cryptocurrency market value, At its highest, Cardano was worth $32.6 billion.

Cardano traded in a range of $0.914190 to $1.004100 for the day.

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However, over the past week, Cardano has seen a stagnation in value, as it’s usually less than one percent. The volume of Cardano traded for the day to the time of writing was $4.607965 billion, or 2.74% of the total volume of all crypto assets.

Cardano (ADA) lately has been tipped to outperform, on the bias that is headed towards its smart contract launch last month, leading to a significant amount of applications built on Cardano in 2021.

This means that more developers will see it as an attractive medium for building their desired apps.