Cryptocurrency analyst Benjamin Cowen believes Cardano (ADA) remains one of the top racers of this market cycle despite last week’s downturn in the market.

In one Video Newly, Cowen told his 467,000 YouTube subscribers that ADA is one of the few coins that has withstood the constant correction in the crypto market.

“If you look at the chart, ADA moved to the $ 1.20 mark in late February and has remained more or less the same since then. With this in mind, ADA really outperformed many other altcoins. “

ADA hit a high of $ 2.45 on May 16, but has since lost nearly 50% of its value. It fell to $ 1 yesterday before rising to $ 1.27. According to CoinGecko, it’s up 25.50% in the past 24 hours.

Despite the massive losses, Cowen said ADA has shown very good resilience.

“You could say, ‘Ben, ADA is 50% below the top, is that really that great? “Depending on the circumstances, yes. Bitcoin is down 50% and ADA continues to do relatively well given the market. “

According to him, ADA has done very well with its BTC pair since the start of the bull cycle.

Daily ADA / BTC chart | Source: Benjamin Cowen

He also compared ADA with other top altcoins such as ETH, LINK, DOT, LTC. They all show that ADA outperforms these altcoins.

Daily ADA / ETH chart | Source: Benjamin Cowen

Daily ADA / LINK chart | Source: Benjamin Cowen

Daily ADA / DOT chart | Source: Benjamin Cowen

Daily ADA / LTC chart | Source: Benjamin Cowen

Hence, it would be unbiased to say that ADA is the horse of this market cycle.

SN_Nour

According to Dailyhodl

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