Bitcoin has taken back half of the gains lost in the April to July period, but bullish momentum may slow.
Monday set a new single-day sales record for CryptoPunks, and August sales have already set a monthly record, with prices for the NFTs averaging nearly $200,000.
Bitcoin slipped below $50K and will likely consolidate this week, analysts say.
The dollar may depreciate after Friday's event, triggering renewed inflows into bitcoin and equities.
Upside momentum is strengthening on daily and weekly charts, which suggests buyers are in control.
Cardano prepares to enter the decentralized application space as smart contract functionality arrives.
"The market continues to hover over the 200-day moving average with bulls still in play," Zerocap's Toby Chapple told CoinDesk.
Bitcoin rallied after Coinbase announced it will add crypto to its balance sheet.
"The institutional world is turning cautious on stocks and that is making cryptocurrencies look very attractive," said one analyst.
Buyers will likely remain active on pullbacks into the weekend.
ADA's price is up a staggering 19% on the day and has unseated BNB as third-most valuable crypto by market cap.
Hourly spot volume across multiple exchanges clocked the highest point since Aug. 13.
Expectations are rising for the blockchain to implement smart-contract functionality by next month.
Analysts expect bitcoin to remain above its 200-day moving average.
“It just shows that staking on Eth 2.0 is incredibly popular,” said Ben Edgington, lead product owner at ConsenSys.