Cardano’s had a rough 2022 until now, up 34% in the last month, and 26% in the last week.
If you’re a Cardano holder, you’re likely thinking it’s about time.
But this doesn’t mean that we’re without questions like why did this pump all of a sudden happen?
How long will this last? And what does Cardano have in store for the rest of 2022?
Well, it appears Cardano is following a logical sequence. If we see their three-month chart above, we can see that a price spike happened in mid-January.
That might feel a little bit random, but the cause is dApp activity. In the case of January, that was the launch of SundaeSwap.
Cardano saw a quick run-up in price before tumbling quite a bit lower along with the rest of the market.
As unexciting as the price action was afterward, that spike in price was still very significant because it showed the world that Cardano can support a DEX.
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