Cardano & Fantom Prices Explode-Will the Bullish Momentum Continue into the Next Week?
Crypto space rose notably in the recent past due to which the global market capitalization has soared beyond $1.08 trillion. However, since then the prices of the top cryptos remain consolidated and are stuck up within minor regions indicating the prevailing accumulation phase. Meanwhile, Cardano (ADA) & Fantom (FTM) prices have undergone a notable rally which is believed to spark a fresh rally soon.
A popular crypto analyst, Micheal van de Poppe sets down the possible trend for the coming week.
Cardano (ADA)
Cardano’s price is surging high since the beginning of the year 2023 and spiked more than 70% from its bottom. However, after surging beyond the first target at $0.38, the price is facing some hindrances to surging beyond the next & pivotal target at $0.416. However, RSI is displaying a minor bearish divergence that may hinder the rally in the coming days.
“Didn’t see any strength as of yet.
I’d be looking at a case where I’d want to look for longs around $0.35 if a correction occurs or the area at $0.42 flips for support,”
Fantom (FTM)
After registering nearly 4 consecutive bullish green candles, the Fantom price is experiencing a minor drain since the early trading hours. The price slash appears to be a minor one and hence the bullish momentum is believed to continue for a long as the bulls are defending the lower support at $0.61. Presently, the price seems to be undergoing a notable price squeeze that may offer a catapult action to rise high soon.
“Higher timeframe resistance approaching here as it’s closing the gap.
If there’s a dip, I’d be interested around $0.50 on this one,”
Collectively, the altcoins are gearing up as they appear to be hovering around crucial levels. Also, the market cap is testing pivotal resistance which flashes the possibility of the beginning of an Altseason very soon.
This is When Cardano (ADA) Price May Ignite a Bull Run and Rise Beyond $1!
The post This is When Cardano (ADA) Price May Ignite a Bull Run and Rise Beyond $1! appeared first on Coinpedia Fintech News
Cardano is enjoying a bull ride as the market sentiments flip significantly soon after the launch of its algorithmic stablecoin Djed in collaboration with COTI. Soon after the launch, the reserves swelled to over 28 million in ADA with a reserve ratio of 636%. Moreover, the fresh FOMC interest rates ignited a significant rally beyond $0.4 for the first time since November 2022.
The ADA price began to break out from the bearish trendline ahead of the release of the fresh interest rates and on the announcement soared high slicing through the crucial resistance at $0.39 that it was stuck for the past few days. However, the bullish sentiments appear to have out shadowed the bearish clouds but, the ADA price is required to surge another 15% to trigger a significant bull run.
In the higher time frame, the ADA price has broken out of the crucial zones that were mandatory to cease the prevailing bearish pressure. The upswing enabled the price to rise beyond the descending broadening wedge with an impulsive rebound. The MACD turned bullish by forming a golden cross indicating higher possibilities of an upside swing toward the upper target area.
Moreover, the other technical and fundamental upgrades that drive ADA price higher could be a bearish outlook with the U.S. dollar and a lowered interest rate hike in the coming days. Nevertheless, the recent breakout has flashed possibilities of ranging beyond $0.42 which may further test the trend reversal zone around $0.46. If the bulls maintain their strength around these levels, then a notable upswing may spark driving the price beyond $1 before the end of Q2 2023.
What’s Next for Cardano Price As Djed, an Algorithmic Stablecoin, Enters the Market?
Cardano’s Djed is live! It hits the mainnet at times when most of them have been undergoing frightful days. Meanwhile, the launch did offer a notable push to the ADA price but it was only a short-lived rally that appears to have settled.
The token has been attempting rigorously to slice through the crucial $0.4 resistance levels but is constantly failing to do so. However, the rally continues to trade in an ascending trend, indicating that it is confident of reviving a bullish trend.
The ADA price has been trading below the 200-day MA levels since the beginning of 2022 and has never attempted to test these levels. However, since the beginning of 2023, the price has inflated and raised close to MA levels. Woefully, the price has been facing constant hindrances at these levels, but bulls appear to be poised to keep up the momentum of the rally and reach the desired target at the earliest.
Cardano Active Address See Notable Swing
However, the bears may certainly not hold the dominance for a long time as the market participants have intensified their activity on the platform. The Daily Active Address(DAA) that tracks the number of addresses contacting the platform is maintaining a notable upswing.
Presently, the levels have rebounded from the bottom at around 52K and raised beyond 85.5K, and heading towards 100K. In the meantime, the ADA price also maintained a significant upswing. With the jump in the DAA, the transaction volume also spiked, indicating the shift of focus of the market participants over the platform.
Another indicator that is pointing toward a giant price action is the MVRV ratio trending within the negative levels for quite a long time. The MVRV ratio is the comparison between the market value to its realized value that further determines whether the token is undervalued or overvalued.
Presently, the MVRV ratio has been trading within the negative levels for quite a long time, hence indicating the traders accumulating the tokens constantly as the ADA price, currently is undervalued.
Collectively, Cardano’s price appears to have been preparing for a notable rally, where-in the rally may catch up, regardless of whether the bullish market sentiments prevail within the market or not. Therefore, after accumulating some strength, the ADA bulls are believed to uplift the price beyond the pivotal resistance soon.
Cardano (ADA) Poised For Continued Growth
Cardano, like other cryptocurrencies such as Bitcoin and Ethereum, has had a bullish start to 2023. The price of ADA rose from $0.243 to $0.4, a 66.6% increase, before hitting resistance. In recent weeks, a rising wedge pattern has formed, indicating a potential correction of 15% to $0.325 if a bear cycle occurs.
On the other hand, if the bulls maintain control, Cardano may surpass $0.38. Currently, ADA is trading at $0.3719 after a 1.88% decline in the past 24 hours.
Bullish Signals For ADA
The on-chain data indicates that the bulls are dominating Cardano’s ADA and a potential price surge is expected in the near future. Approximately 4 billion ADA has been accumulated by 90,000 wallets in the trade range of $0.365 to $0.376.
ADA remains above its support level of $0.36, signaling a potential continuation of the bull run. The launch of Djed, a US-pegged stablecoin, on the ADA network this week, could further boost the cryptocurrency.
However, as with any investment, it is crucial to consider market volatility and associated risks before making a decision.
Cardano Price Could Reach $0.5 by February 2023, but There’s a Catch!
The world’s most popular crypto Cardano’s price trend had been under acute criticism for quite a long time. However, ADA prices surged at the beginning of 2023 and rose by nearly 65%. Therefore, it is believed that the token will rise above the odds by forming a crucial support area to start trading higher highs and lower lows within an ascending trend.
After reaching the first target at $0.385, the bearish action began to intensify, which created enough selling pressure on the asset. Moreover, the resistance collides with the crucial 200-day MA levels, which are restricting the bulls from surpassing these levels. However, the price continues to hover around these levels and attempts to breach these levels at constant intervals.
The current trading set-up indicates the possibility of experiencing a notable pullback that could hit some pivotal levels soon.
As mentioned in the above chart, a huge volume of ADA, nearly 4.37 billion, was bought by 73.14K addresses between the price range of $0.367 and $0.379. Therefore, it is quite evident that the asset has formed a crucial support zone within these ranges and if the trend breaks down these levels then the fear of huge liquidations may mount.
Also, the whales have been redistributing ADA ever since the price marked highs above $0.38. Nearly 31 addresses holding 100,000 to 1,000,000 have liquidated their holdings as per the data provided by Santiment. Therefore, the selling pressure may drag the price slightly lower, but if the bulls manage to hold within the above-mentioned levels, then a significant rebound may kick in.
Besides, the market sentiments are bullish, and the platform is about to launch the much-awaited stablecoin Djed in collaboration with Coti. This is believed to re-fill the bullish market sentiments that may help the ADA price rise beyond $0.4 in the coming days.
Here’s Where Bitcoin, Ethereum & Cardano Prices Are Heading This Week
As the last year made heart-stopping dips and now the stunning recoveries in the price chart, many investors are left questioning the future trend of the market. However, the bullish reversal in the market’s sentiment has once again sparked rays of hope of a potential comeback from its bottom price range.
These Coins May Bring Bull Market Opportunities!
After pulling out of a prolonged crypto winter, investors are finally witnessing a glimmer of hope in early 2023 as popular coins like Bitcoin and Ethereum surged over 25% in just a few days. Moreover, the Cardano network has been dominating the altcoin market due to its much-awaited launch of stablecoin ‘DJED.’ Hence, crypto traders believe this mini-bull run may turn out to be a solid gain in the long term.
Bitcoin Price Analysis
Bitcoin’s technical outlook promises a bull market for the asset as it faces intense buying pressure to prevent any freefall in the price graph. As of writing, the price of BTC tumbles near the crucial level of $23K. However, the asset has witnessed a huge accumulation as its dominance over stablecoin hits a multi-year high, hinting at a historically bullish trend continuation.
If BTC breaks its current consolidation and holds above $23.5K, it may stretch its bullish trend and fly to the crucial price level of $30K. As the RSI-14 trades in the overbought region at 80, it may build up a panic situation which may force investors to liquidate positions, plunging BTC price near the support level of EMA-100 at $20.9K.
Ethereum Price Analysis
This weekend has brought a bearish trading session for Ethereum as it has entered its crucial support level. ETH price currently hovers at $1,579 and is heading toward trading below its immediate support level if it breaks $1,550.
However, bulls are pushing the asset to $1,600 to confirm a further uptrend to $2K, and a failure to fulfill the bullish goal may slump ETH price to retest its support zone near EMA-200 at $1,470-$1,510.
ADA Price Analysis
Cardano price is preparing for a bullish breakout soon as the launch of its stablecoin DJED inches closer. However, the token initiates a downward retracement to its 23.6% Fib levels, but it can be a catalyst in igniting a bull run by the end of January.
The ADA price trades at $0.38, and it may retest its support level at $0.35 to validate an upcoming uptrend. A successful trading session above $0.356 will gain investors’ trust and buying pressure to head toward its EMA-200 resistance at $0.42. However, a bearish sentiment may pile up if ADA price drops below $0.34, plunging the altcoin below $0.27.
Cardano (ADA): Rising From The Ashes Or Heading For A Fall?
The Cardano (ADA) cryptocurrency displayed significant price action in the early days of 2023, rising over 60%. It broke out of a daily bearish trendline and is attempting to break through the resistance of a bearish pattern. Although there were some bearish interruptions, the bulls managed to maintain the rally. However, there is a possibility that an inverted impulse could cause the price to decrease in the near future.
The Cardano (ADA) price appears to have been rejected at the upper resistance of a descending parallel channel as bearish sentiment has intensified around these levels. However, there is still a chance of a bullish breakout that could lift the price to the upper resistance at $0.57, after surpassing $0.55. On the other hand, a rejection could cause the price to fall to the lower support near the 2022 bottom.
Additionally, there are upcoming events that could provide a bullish boost, such as the launch of the native stablecoin Djed scheduled for the coming week. Furthermore, the Cardano-based wallet is approaching the $4 million mark and currently stands at around $3.9 million. With nearly 1000 projects being built on Cardano, a third of them being NFTs, it is clear that the platform is attracting new projects. However, the price trend remains uncertain.
Therefore, the upcoming weekend may turn the tables for the Cardano (ADA) price and pave the way for reaching higher targets.
Cardano Bulls Are All Charged up Ahead of the Launch of Its Stablecoin DJED
As the broader cryptocurrency market recovery gathers steam, the price of Cardano (ADA) has increased by 45% over the past month and 7.7% over the past week. However, in addition to the general market rebound, the much-anticipated launch of the DJED stablecoin on the mainnet, which is planned for this month, also supports the bullish Cardano market sentiment.
Just before the debut, the well-known Singaporean cryptocurrency exchange Bitrue revealed plans to list the DJED stablecoin together with SHEN, its reserve coin. Before a user can receive Djed, more than 400% in collateral value must be provided. Djed will be backed by other tokens. By doing this, it will be possible to replace the volatile gas fees with a transaction cost that is consistent and predictable.
“As part of our effort to stake the ADA that is deposited to the Djed smart contract and generate extra rewards for SHEN holders, we are developing a snapshot mechanism and UI that will be added to djed.xyz, where SHEN holders will be able to track these extra rewards,” as reported by Coindesk, the developers said.
The ADA token, which is the native currency of Cardano, is being used to finance the Djed cryptocurrency. Users will be able to transfer ADA to the platform’s smart contract in order to earn Djed in return. As the preferred currency for covering transaction costs on the Cardano network, it aims to replace all other cryptocurrencies.
Through an official blog post on its website and a subsequent tweet from COTI Network, Bitrue announced its intentions to list DJED. In the near future, Bitrue intends to add support for DJED and SHEN staking, according to the blog announcement. SHEN is the reserve token to be used in preserving DJED’s peg to the dollar and is supported by Cardano.
In the meantime, COTI, the payments platform in charge of the stablecoin’s issuance, has made a number of advances to guarantee the launch is a success with the introduction of DJED anticipated on the mainnet this month. The public testnet version of DJED v. 1.1.1 with Vasil compatibility was made available by COTI last month.
CIP-30 To be Activated on Cardano Soon, Solana Re-Enters Top 10 Digital Asset, Snowfall Protocol Early Investors To Profit Over 5000%
The crypto market has been in a positive cycle lately, with many tokens seeing instant price gains. However, it is yet to be seen if tokens such as Cardano (ADA) and Solana (SOL) will be able to maintain their high growth rates for a long time. On the other hand, some newly launched tokens like Snowfall Protocol (SNW) have been growing consistently since launch. In this article, we will discuss what makes Snowfall Protocol (SNW) stand out from pre-existing and well-known tokens like Solana (SOL) and Cardano (ADA).
Cardano (ADA) developer discloses plans of CIP-30
A developer and contributor to the Cardano (ADA) crypto ecosystem, Adam Dean, has shared the specifics of his work on CIP-30. To connect crypto asset storage with decentralized applications, hot wallets based on Cardano (ADA) need the functionality of web page interaction, which may be achieved with the help of the proposed Cardano (ADA) enhancement. WooCommerce is the most popular e-commerce platform, and now Cardano (ADA) Mercury can be used as a direct payment channel between customers and business owners.
On the price front, Cardano’s (ADA) recent analysis shows that after a strong bullish period, Cardano (ADA) is trading at $0.36. After a few days of ups and downs, the price is 11% higher than it was earlier this week when it hit a high of $0.31. However, technical analysis suggests that the price might fall in the foreseeable future. Cardano (ADA) is still 78% below its price in January 2022, and it will take a long time for the cryptocurrency to recover.
Solana’s (SOL) dramatic price increase may fade soon
After a seven-day surge that saw its value increase by more than 70%, Solana (SOL) got ahead of Polygon on January 15, pushing it to the tenth spot on CoinMarketCap’s list of top crypto assets by market cap. Solana (SOL) returned to the list pushing other well-performing tokens below, especially after the FTX collapse of 2022. The sentiment toward Solana (SOL) appears to have turned positive again, as its price has increased by roughly 135% since the start of 2023.
In the past week, the market value of Solana (SOL) has risen from $5 billion to nearly $9 billion. Further, Mamba, the co-founder of the Solana (SOL) project, stated that believers in the token’s progress bought the coins, leading to a dramatic price increase in just 15 days. The growth of Solana’s (SOL) ecosystem was paralleled by the birth of a new meme coin, Bonk Inu. Solana (SOL) is still much behind its all-time highs and the token’s future depends upon the overall investor interest, which may fade over time.
Snowfall Protocol (SNW) wins in terms of price gains
Though the market was experiencing a dip, Snowfall Protocol’s (SNW) value has been steadily increasing. Snowfall Protocol (SNW) has performed very well since it was launched in the crypto market, and investors have been keen on finding what’s next for the revolutionary token. Despite the decentralized system not yet being live, investors of Snowfall Protocol (SNW) have seen remarkable returns of 500% since the token’s first presale phase.
The final Stage of Snowfall Protocol’s (SNW) presale is presently active, and the token is being offered at a 400% premium over its Stage 2 prices. Snowfall Protocol (SNW) is an attractive investment due to its low price of $0.191, and the benefits it provides its users. Snowfall Protocol (SNW) is set to launch on February 3. In the months following the coin’s launch, investors may witness profits exceeding 5000% of their initial investment.
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Orbeon Protocol (ORBN) Remains Bullish, While Theta Network (THETA) And Cardano (ADA) Show Red In Price Charts
Some new potential crypto projects have gained the attention of investors and experts in the community. Orbeon Protocol (ORBN) is one of them and has been bullish since day one. Orbeon Protocol (ORBN) has performed well compared to Theta Network (THETA) and Cardano (ADA).
Theta Network (THETA) shows a 0.86% drop casting doubt among enterprise validators
Theta Network (THETA) is only a couple of years old. The purpose of building Theta Network (THETA) was to provide its community with a high-end video streaming platform. Theta Network (THETA) mainnet works as a decentralized ledger that allows users to share computing resources and bandwidth on a P2P (Peer-to-Peer) basis.
Theta Network (THETA) users can perform multiple governance activities within the network. Theta Network (THETA) also features a Guardian network that consists of thousands of community-based guardian nodes. Reputed companies like Sony Europe, Binance, Gumi, Google, Blockchain ventures, and Samsung associate with Theta Network (THETA) as enterprise validators. The current price drop of Theta Network (THETA) has concerned its validators. The Theta Network (THETA) price charts have been showing a downturn for a while now. Theta Network’s (THETA) live price is $0.8019, which is a 0.86% drop.
Cardano (ADA) launches new improvements maintaining around $0.3 price mark
Cardano (ADA) showed a gradual price decline recently. However, CoinMarketCap tracked a Cardano (ADA) price rise. Cardano’s (ADA) live price is $0.3161, which is 0.19% up recently. Investors are still wary about staking and trading in Cardano (ADA) as it showed a continuous price drop in the past. However, Cardano (ADA) has proposed a new development in its network to attract more investors. The platform has launched the Cardano (ADA) improvement proposal (CIP) 1694, which aims to bring Cardano (ADA) into the Voltaire Era.
The Cardano (ADA) CIP upgrade is the foundation of the network’s decentralized decision-making system. The new improvement adoption is the result of a November 2022’s voting round that took place on the Cardano (ADA) developer company network.
The new proposal might have affected the constant downturn of Cardano (ADA) to turn green.
Orbeon Protocol (ORBN) impresses more investors with its advanced ecosystem; price stays bullish
Orbeon Protocol (ORBN) ecosystem provides a low-fee barrier to enter into its investing platform. Orbeon Protocol (ORBN) community members can easily invest in high-profile projects and firms with just $1. Thus, Orbeon Protocol (ORBN) investors don’t need to have millions or maintain any credit score to invest in businesses of their choice. Orbeon Protocol (ORBN) is open for everyone and gives them equal opportunity to benefit from high gains.
Businesses can raise quick funds using the crowdlending feature of Orbeon Protocol (ORBN). The platform is making it possible for businesses and projects to connect with passionate supporters from around the world. Orbeon Protocol (ORBN) takes extra care of inventors by ensuring they get their money back if a funding round becomes unsuccessful via its built-in ‘Fill or Kill’ feature. As a result, Orbeon Protocol (ORBN) ensures the funds’ safety on its platform.
Currently, Orbeon Protocol (ORBN) is in its third presale phase and is selling at an affordable price of $0.0435. The price is expected to grow 6000% in the upcoming days. Investors will be looking to buy Orbeon Protocol (ORBN) to enjoy amazing ROI.
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ADA Token Burning Not An Option For Cardano Founder
It looks like the crypto market is all set to enjoy a bullish weekend as the star cryptocurrency, Bitcoin has surpassed yet another important resistance of $22,000 area. Ethereum is on a similar pace leading other top ten altcoins including BNB, XRP, Cardano and others.
Among these altcoins, Cardano is considered to be among the top currencies that will enter the bullish momentum. Cardano’s ADA attained its ATH in 2021 and since then the altcoin has not spiked that level. However, the Cardano network’s boosts of strong fundamental and development activity.
Meanwhile, the experts claim that the upcoming updates of Cardano network will fuel ADA prices. As per the reports, the update is scheduled to take place on Feb 11 and is set to happen on test networks. While immediately after three days, that is Feb 14 the next update will be introduced. Once the update is successful, the smart contract developers on Plutus will have multi-threshold signature designs.
Charles Hoskinson : Token Burn Increase Market Volatility
On the other hand, Cardano has a total supply of 45 billion ADA which is more than Bitcoin’s supply positioned at 21 million. Hence, the community is under discussion regarding token burn which will push ADA’s price rally.
This token burning is a method used to reduce the total supply of a particular currency so that it creates demand. This in turn will fuel the currency’s price action. However, even though this method has helped many currencies, Cardano founder Charles Hoskinson has opposed token burning.
This is because he believes this method doesn’t create any fundamental value to the network and also he views this method as manipulative. Moreover, Hoskinson claims token burn will bring down liquidity and increase market volatility impacting investors.
Hence, the Cardano network mainly focuses on upgrading its technology rather than token burning which is a short term solution.
Cardano Update To Happen In Feb, ADA Price Rallies Nearly 2%
The crypto world woke up to the year’s first bankruptcy case filed by Genesis Global. This bankruptcy case happens to be a major blow to Barry Silbert’s Digital Currency Group as well. However, the crypto market is showing mixed signals.
The world’s first cryptocurrency, Bitcoin is selling at $20,951 with a surge of 0.88% in the last 24hrs. The similar pattern is followed by other altcoins including Cardano which has gained nearly 2% in the last 24hrs. The experts claim that the upcoming updates of Cardano network will fuel ADA prices.
As per the reports, the update is scheduled to take place on Feb 11 and is set to happen on test networks. While immediately after three days, that is Feb 14 the next update will be introduced. Once the update is successful, the smart contract developers on Plutus will have multi-threshold signature designs.
Why The Update ?
Cardano network’s IOHK Tim Harrison has shared the data related to upcoming updates on the network. This upgrade is focused on improving its interoperability along with supporting decentralized cross-chain applications.
The cross-chain applications will be supported once the update influences cryptographic primitives that are used on the network. This can be done when the common digital signature standards are introduced in the Plutus smart contract platform.
Next, Harrison describes the current issues with the algorithms which require more time, effort and are also expensive when connected with other blockchain networks like Bitcoin. Hence, the embedded features have to be introduced to support Cardano’s main digital signature called Ed25519 along with ECDSA and Schmitt signatures.
Bitcoin, Cardano, Dogecoin are Undervalued but Binance is Overvalued – Santiment Reports
This year had a positive start for the cryptocurrency market of 2023, with a significant increase from the closing weeks of 2022. Investor optimism has indeed increased by hopes that the Federal Reserve may ease interest rate hikes contributing in part to the green candles in the new year.
According to an on-chain indicator called the MVRV Z-score, assets like Dogecoin (DOGE), Shiba Inu (SHIB), Ethereum (ETH), XRP, Cardano (ADA), and Bitcoin (BTC) will all be undervalued in 2023. The MVRV Z-score indicates that Binance Coin (BNB), the platform’s native token, is overvalued in 2023 compared to the majority of other cryptocurrencies with significant market capitalizations.
When compared to Bitcoin, Ethereum, XRP, Cardano, and other meme coins, analysts at crypto data aggregator Santiment found that Binance Coin was a greater risk investment. The average addresses have fallen, indicating that these cryptocurrencies with high market capitalization are long-term low-risk investments.
What is MVRV Z-score?
The MVRV Z-score was used by the crypto analytics firm Santiment to put out the data and it should be noted that the indicator is frequently used to determine when a crypto asset is significantly over or undervalued. According to Santiment’s analysis of the provided chart, the assets in question might easily make up for price declines after 2022.
A measurement based on the market value and realized value of cryptocurrencies is called the MVRV Z-Score. Market value is the total worth of all previously minted currencies. This is calculated by multiplying the asset’s current price by the coin’s circulating supply.
The realized value is calculated by adding the most recent sale price of each token that has already been mined, when it was last transferred to a different wallet address, to the total selling price of every token that was in circulation at the time it was sold.
Crypto Market Analysis Today: Is it Over for Cardano (ADA) & Ripple (XRP) Price?
Cardano (ADA) Price Analysis
Cardano displayed a notable recovery in the past few days as the price underwent a parabolic recovery to gain the levels it traded before the market collapsed in November. However, after rising beyond $0.35, it was assumed the price may spike beyond $0.4 but the Genesis debacle could prevent a giant move towards the north.
The ADA price accomplished the parabolic recovery and despite undergoing a minor correction to form a cup & handle pattern, it surged high to reach the interim resistance. Therefore, a rejection then appeared to be imminent that occurred in the past few days. Presently, the price is trading within crucial resistance-turned-to-support levels. If these levels are not held, then a significant plunge may drag the price close to $0.3 in the next few days.
Ripple (XRP) Price Analysis
The Ripple price in the short term is displaying a sense of strength as the price levels hover within the same resistance and support levels. The recent rally did not amplify the price levels to a large extent as it did with the other altcoins. Therefore, the possibility of a rebound emerges as the bulls appear to hold notable strength to ignite a rebound.
The XRP price is testing the crucial price levels at 200-day MA, clearing which may induce strong bullish momentum within the asset. However, the market sentiments have turned slightly beamish which may compel the price to drop below these levels. Therefore, if the Genesis fiasco impacts the crypto space to a large extent, then a plunge slightly below $0.34 can be expected, else the price may remain consolidated until the next move uplifts the price beyond the reach of the bears.
Cardano Ecosystem Expands with Custom-Built Sidechains, Aptos DeFi Introduces Parallel Processing, and Snowfall Protocol Unveils First Asset Transfer Protocol
Recent developments in the crypto space include three blockchain projects that have made significant announcements, which have caught the attention of the community. Cardano (ADA) announced the release of a software toolkit that enables developers to deploy custom-built sidechains on the Cardano (ADA) ecosystem. Aptos (APT) announced that a lot of innovation is coming to the blockchain project in 2023, with a focus on decentralized finance (DeFi) and parallel transaction processing. Lastly, Snowfall Protocol (SNW) unveiled a revolutionary asset transfer protocol for EVM-compatible and non-compatible chains, which aims to improve interoperability and inclusivity in the DeFi ecosystem.
Cardano’s (ADA) sidechain expansion may not be enough to revive its value
The Cardano (ADA) ecosystem’s expansion with custom-built sidechains is an exciting development for the community, as it aims to improve the ecosystem. However, it should be noted that the success of these sidechains is dependent on the adoption and usage by developers and projects. Additionally, there is the potential for increased competition within the Cardano (ADA) ecosystem as more projects and applications are developed on these sidechains. The current value of Cardano is $0.32 per ADA. Cardano’s (ADA) current price is 89.63% lower than its all-time high of $3.10.
Aptos (APT) token plummets 48.68% below all-time high despite parallel processing announcement
Aptos (APT) has announced that it will be introducing parallel processing and advanced features for enhanced user experience in the DeFi space. This is a positive development for the project, as it aims to improve the scalability and efficiency of its DeFi offerings. It is important to keep in mind that the effectiveness of these developments depends on the acceptance and utilization by projects and participants in the DeFi sector.
Additionally, the current market conditions have not been favourable for Aptos (APT), with the token experiencing a decline in value. The current value of Aptos (APT) is $7.04. The highest value that Aptos (APT) has ever reached was $13.73, on October 19, 2022. Aptos’ (APT) current price is 48.68% less than its all-time high.
Snowfall Protocol (SNW) price surges to $0.182, fueled by growing interest and confidence
In contrast to Cardano (ADA) and Aptos (APT), the recent price surge of Snowfall Protocol (SNW) to $0.182 is a testament to the growing interest and confidence in the project. The innovative cross-chain transfer protocol for fungible and non-fungible tokens has been gaining traction among crypto enthusiasts and investors, who recognize its potential to revolutionize the DeFi ecosystem. Snowfall Protocol’s (SNW) unique features, such as the canonical bridge and reverse swap mechanism, allow for seamless and hassle-free transfer of assets between different blockchain networks, making it an attractive option for projects and users looking to expand their reach across multiple chains.
Additionally, the protocol’s vibrant ecosystem economy, powered by Snowfall Protocol’s native token, (SNW), further enhances its appeal by allowing holders to earn staking rewards and gain voting rights within the protocol. The price surge can also be attributed to the increased demand for DeFi projects that provide solutions to the current limitations of interoperability and inclusivity in the space. The ability of Snowfall Protocol (SNW) to bridge the gap between different blockchain networks and provide easy communication between them is a much-needed solution for the DeFi landscape.
Conclusion
While Cardano (ADA) and Aptos (APT) have made announcements that aim to improve their ecosystems, Snowfall Protocol (SNW) has made groundbreaking progress with its asset transfer protocol. It’s an exciting time for the crypto community as Snowfall Protocol (SNW) aims to improve interoperability and inclusivity in the DeFi ecosystem. It is worth keeping an eye on Snowfall Protocol (SNW) as it aims to be the future of cross-chain transfer.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Cardano Struggles To Support Its Bullish Session! Is ADA Price Chasing Bottom?
Cardano’s price has been trading in a promising zone due to IOHK’s developmental updates and easing FTX contagion with positive CPI data. However, ADA’s price experiences low strength after continuous bullish trading sessions in the last few days. Now, the massive pump in the ADA price chart seems to become range-bound as it struggles to hold its price above the resistance level due to the wake-up call from bears.
ADA Price Reaches A Crucial Point
The exponential upward rally for Cardano has been stuck in a crucial zone as it fails to break through its strong resistance level. Despite an increase of 55% in TVL (total value locked), ADA price has registered multiple lows and highs and formed a descending channel in the weekly price chart.
A prominent crypto analyst, Blue Profit, predicts a downtrend for ADA price in the upcoming days as ADA wipes investors’ bullish hopes by consolidating near its resistance zone at $0.34-$0.37. The 2-week price chart for ADA shows a falling wedge pattern, and the analyst expects a bearish reversal if ADA fails to hold this resistance zone, resulting in slumping the token hard to the bottom levels of $0.15.
Cardano In A Do Or Die Situation
In the last two weeks, Cardano’s price has rallied over 50% and is currently knocking the $0.4 level to extend its impressive bullish rally ahead. However, a rejection near $0.402 has brought fear among investors as the token tends to end its bullish rally and head toward its previous bottom levels made during FTX’s crash.
According to Coinmarketcap, ADA price trades at $0.35 with an uptrend of 1.34% in the last 24 hours. Looking at the price chart, ADA creates a flip situation near its range-bound zone, bringing FUD sentiments among altcoin investors. Though ADA attempted a recovery rally near $0.4, it failed multiple times as bears got the driving seat. The RSI-14 moves near the 80-level, which is an overbought region that can lead to a downward correction to 23.6% Fib level by this week.
However, Cardano may become bullish if ADA breaks above $0.402 as it can follow a clear upward trajectory to its EMA-200 at $0.43. Moreover, Bitcoin’s bullish trading sessions will significantly impact the altcoin market and can eliminate any bearish sentiment.
However, a downtrend below $0.32 may solidify bears’ domination and bring a choppy situation for traders as ADA can plunge to its 62% Fib retracement at $0.288 with an intense selloff.
Cardano Price Trapped in Multi-Week Bear Market – Is the Bottom Close?
The Cardano (ADA) price has been on a free fall since its ATH, $3.09, in August 2021. The eighth largest digital asset by market cap is, however, indicating a possibility of reversal supported by fundamental and technical standpoints. For instance, the weekly RSI indicates the digital asset is largely oversold, even below the 2018 bear market. Additionally, the ADA price is retesting a resistance trend line formed in the past year.
Notably, should Cardano’s price rally beyond current levels of about $0.34, the multi-week bear market will be invalidated. However, a strong rebound from the upper trend line, resistance level, could mean the bottom is not yet achieved.
As with the rest of the altcoins industry, the Cardano price may be waiting for the Bitcoin price to comfortably trade above $21k to invalidate the 2022 bear market. Meanwhile, trading on ADA continues with about $841k liquidated in the past 24 hours according to Coinglass.
Nonetheless, Cardano developers continue to build scalable, secure, and affordable decentralized applications (Dapps). According to data provided by defillama, the total value locked (TVL) in the Cardano ecosystem is about $71.49 million. However, Cardano’s TVL is menial compared to Polygon (MATIC) with over $1.15 billion.
Some of the top DeFi projects that have bolstered ADA prices in the past include DEXes like Minswap, WingRiders, SundaeSwap, and MuesliSwap.
Notably, Cardano’s price has gained approximately 39 percent in the past fourteen days, a rally that began thirty days ago. The decentralized third-generation proof-of-stake blockchain has attracted global users due to its ability to morph with real-world utility. For instance, the Cardano team has been enhancing its smart contract capabilities since the Alonzo hard fork.
Cardano And Avalanche Facing Extended Slumps, While Flasko (FLSK) Presale Phase Two Surges On
The new paradigm in cryptocurrency investing emphasizes tokens with real-world utility and serious growth potential. Gone are the days of simply buying the dip on established cryptos like Avalanche (AVAX) and Cardano (ADA), which have seen better days – after all, it will take billions in market capitalization for either Cardano (ADA) or Avalanche (AVAX) to get anywhere remotely close to their all-time high prices again.
That’s why Flasko, an alternative investments protocol currently in the second phase of its presale, is deservedly taking the spotlight from older cryptos as the year ends. It offers the same, if not better returns, as Avalanche (AVAX) and Cardano (ADA) did for its early investors.
Avalanche (AVAX) Falls Under $11 Support
Avalanche (AVAX) bears failed to protect $11 support levels from a market sell-off as Avalanche (AVAX) tokens have fallen to $10.88 per token as of this writing.
This indicates an overall decrease in buyer momentum for the smart contract platform, continuing a harsh bearish trend all year. The FTX collapse didn’t do Avalanche (AVAX) any favors, with the token’s market capitalization seeing significant outflows to other more promising protocols like Flasko.
Despite positive sentiment surrounding its partnerships with e-commerce conglomerate Alibaba, Avalanche (AVAX) prices have failed to take off, as Avalanche (AVAX) prices remain almost 93% below ATH levels. By the end of 2022, Avalanche (AVAX) may hit rock bottom at $10.
Cardano (ADA) Falters
Cardano (ADA), at its peak, was the third-largest cryptocurrency behind only Bitcoin and Ethereum. But despite its relatively stable existence, Cardano (ADA) is largely viewed as a blockchain in progress that is still under ongoing development. Needless to say, Cardano (ADA) still boasts among the most active development communities, indicating more upgrades and improvements to come on the Cardano (ADA) ecosystem, which may bode well for token prices moving forward.
However, investors hoping for a bounce may be disappointed, as Cardano (ADA) has fallen 92% from its all-time high of $3.10 and is trading at $0.24 as of this writing.
Flasko (FLSK) Expected to Increase By 50x to $5 in 2023
If you want to make a serious profit in 2023, get into a presale like Flasko instead of buying the dips on old crypto like Cardano (ADA) and Avalanche (AVAX).
Flasko is building the first and only alternative investment protocol specializing in rare champagnes, wines, and whiskeys. Alternative investments make excellent hedges against inflation and volatility because their value and quality over time only appreciate.
Flasko brings this unprecedented utility to the crypto space by allowing investors to buy and trade NFTs representing physical bottles of the finest beverages from Flasko’s world-class storage facilities. Flasko seeks to tokenize the rare wines, whiskeys, and champagnes sector and open income streams for every investor worldwide.
Flasko is here to stay, too: with a fully completed audit by Solid Proof, 33 years’ worth in locked platform liquidity, and dev team tokens locked for three years, Flasko has secured its financial future and profitability as a protocol moving forward. With presale token prices available at $0.1575, Flasko is set up to bring exponential profits to early investors considering experts forecast Flasko to hit heights of $5 in 2023, or a 5,000% increase.
Don’t let this opportunity to invest early on a blue chip slip away!
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Cardano (ADA) Community Defends Network’s Potential Despite Criticism
The Cardano (ADA) ecosystem is thriving and expanding, with a vibrant community of members who are led by an ADA whale.
Recently, popular crypto analyst Lark Davis made accusations of slow DeFi growth within the Cardano network, citing a lack of operating decentralized applications (Dapps) and low average daily transactions of approximately 70,000.
However, the community has united in its defense of the network, citing its potential for growth and strong market performance, as evidenced by its current market capitalization of $11,673,770,289 and 24-hour trading volume of $488,542,533.
Additionally, data from Defillama indicates that the total value locked in the Cardano ecosystem is approximately $67.87 million, with top DeFi projects on the network including Minswap, Indigo, WingRiders, SundaeSwap, and MuesliSwap, which boast TVL of $27M, $11.77M, $11.01M, $7.6M, and $5.9M respectively. Despite these facts, Davis remains convinced that the Cardano network lacks the decentralized applications necessary to sustain its growth.
“Cardano impresses me. It has remained in the top 10 forever in spite of almost no defi, few working retail dapps, and just 70,000 transactions per day on average. And yet, $ada holders continue to steadfastly believe in the potential of Cardano and the vision of the chain!” Davis noted.
In response, @cardano_whale outlined all activities on the ADA network including DEXs, lending and borrowing protocols, and NFT marketplaces, among others.
Does Cardano Still Pose A Threat To Ethereum?
The Cardano network experienced significant growth during a period in which the Ethereum network was facing challenges with high network fees and low throughput.
However, Ethereum has since transitioned to a Proof of Stake consensus mechanism through its beacon chain and has received significant support from layer 2 scaling projects like Polygon (MATIC). As a result, many DeFi developers have been choosing to build on Ethereum due to its global recognition and regulatory compliance. Despite this, the Cardano ecosystem continues to make steady progress as the adoption of smart contracts attracts more institutional investors.
According to Andrew Carnegie, a prominent ADA supporter, the Cardano network is handling double the number of transactions cited by Lark Davis in his analysis.
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Notably, Cardano’s (ADA) price has gained approximately 36 percent in the past 14 days. However, ADA price is down over 89 percent from its ATH, $3.09, recorded in September 2021.
Bitcoin (BTC), Cardano (ADA), Orbeon Protocol (ORBN)
Bitcoin (BTC), Cardano (ADA), and Orbeon Protocol (ORBN) are the strongest contenders for 2023. The latter stands out for its potential to revolutionize retail investors’ participation in early-stage investments. Having already skyrocketed over 805% in the presale, Orbeon Protocol’s (ORBN) sheer potential has already caught the attention of many investors. Orbeon Protocol is currently in the third phase of its presale, selling for $0.0362.
Bitcoin (BTC)
Bitcoin (BTC) is the most popular cryptocurrency ever made. Every four years, Bitcoin (BTC) was made to have halving events. Bitcoin is the most-traded cryptocurrency in the world.
Institutional investors are another thing that will help the price of Bitcoin (BTC) in 2023. Institutional investors are companies and organizations that invest money on behalf of their clients or members. Some examples of institutional investors are hedge funds, mutual funds, and endowments.
The most important thing that will help Bitcoin in 2023 is that big companies like BlackRock, Alphabet, and MasterCard are putting a lot of money into Bitcoin (BTC) to offer their customers services for investing in and paying with cryptocurrencies. Another big piece of bullish news is the upcoming “Bitcoin halving,” but that won’t happen until March 2024.
Cardano (ADA)
Cardano (ADA) was released as a smart contract platform that is scalable, flexible, and built for the next generation of decentralized applications (dApps). Proof-of-stake consensus is what makes Cardano (ADA) work.
Cardano (ADA) hopes to bounce back in 2023 after a bad year in which Cardano (ADA) lost more than 79% of its value. Cardano (ADA) is only worth $0.26 right now, which is more than 91% less than its all-time high of $3.10. As you might expect, most investors have lost faith in Cardano.
Analysts think Cardano (ADA) will get enough support to see its value double to $0.50, which is where it was trading in August 2022. Some think Cardano (ADA) could reach $1 in 2023 if everything goes well. This is the best-case scenario.
Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) is a revolutionary unique crowdfunding and venture capital project that revolutionizes fundraising.
Orbeon Protocol (ORBN) uses blockchain technology to create NFTs backed by startup equity, as a form of investment. Orbeon Protocol (ORBN) lowers the entry barrier so that anyone can invest as little as $1 in a startup.
With its “Fill or Kill” mechanism, Orbeon Protocol (ORBN) puts a lot of emphasis on security, ensuring incomplete funding rounds result in a full refund for investors.
People who take part in the network will be able to earn rewards with the ORBN token. Orbeon Protocol (ORBN) has several benefits, including staking, transaction fee discounts, governance rights, and even access to exclusive investor groups.
Analysts are amazed by how much potential Orbeon Protocol (ORBN) has. They think ORBN will show more than 6000% gains in the presale. Since its presale began, the price of an ORBN token has gone up by more than 805%, and Orbeon Protocol (ORBN) is now selling for $0.0362 per token.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
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Cardano And Zilliqa Are Up More Than 10% Each But Snowfall Protocol Is Still The Best 1000x Opportunity
Snowfall Protocol (SNW) has made waves in the crypto space, with its focus on providing secure, low-cost transactions and seamless user experience.
Experts recently announced a 1000x gain opportunity for its users and investors, making it the best long-term investment within the altcoin market. Cardano (ADA) and Zilliqa (ZIL) may be gaining traction in the short term, but Snowfall Protocol (SNW) is the long-term investment to watch.
What Is SNW?
As the first cross-chain transfer ecosystem built for fungible and non-fungible tokens, Snowfall Protocol (SNW) enables users to swap assets across the most widely used EVM and non-EVM compatible chains. Its dApp is designed to bridge the gap between distributed ledgers and provide a secure platform for users to access their digital assets without relying on any middleman. This is like a network in cyberspace!
Snowfall Protocol (SNW) is built for scalability and ensures that all transactions are processed quickly and securely. It also provides staking rewards to incentivize users to hold their tokens, which further increases the potential of Snowfall Protocol (SNW) gains down the line.
Cardano (ADA) and Zilliqa (ZIL) have both seen positive price action, but Snowfall Protocol’s unique offering gives it an edge over these projects when it comes to profitability.
Cardano (ADA) and Zilliqa (ZIL) Are Just Short Term Pumps
Cardano (ADA) and Zilliqa (ZIL) may be up in the short term, but Snowfall Protocol’s 1000x gain potential makes it the most attractive long-term investment in the altcoin space. Cardano (ADA) is overvalued and Zilliqa (ZIL) may have a foothold on the NFT and gaming market, but will not offer the same returns as Snowfall Protocol (SNW).
Snowfall Protocol (SNW) is the future of NFTs and digital asset transfers and is built to be a multi-chain bridge that enables users to swap tokens freely across multiple blockchain networks with trustless security. This makes it one of the best investments in today’s market.
Zilliqa (ZIL) and Cardano (ADA) market movements are just short-term noise. There is no real long-term gain to be made from them, but with Snowfall Protocol (SNW) users can benefit from its 1000x growth potential. If short-term wins are your preference, well Snowfall Protocol (SNW) has that as well.
Making The Switch To A Multi-Chain Future!
When the blockchain industry is further developed, Zilliqa (ZIL) and Cardano (ADA) may still exist, but they are trapped in their own chains and cannot offer the same opportunities as Snowfall Protocol (SNW).
SNW is setting the industry standard for building bridges between blockchains, allowing users to move freely between them. This opens up a world of possibilities and ensures users can always access the best prices for their assets, no matter which chain they choose to use.
The launch date for Snowfall Protocol (SNW) is set for February 3rd and the final stage ends in less than 30 Days. We are currently witnessing incredible growth of the project that could easily lead to a 1000x increase. Cardano (ADA) and Zilliqa (ZIL) might be the ones hogging the spotlight right now, but Snowfall Protocol (SNW) is still the best 1000x opportunity.
At only $0.17, the value could easily reach new highs shortly. 🚀👌
Make sure to get your tokens now before it’s too late!
Presale : https://presale.snowfallprotocol.io
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Cardano Price to Remain Outrageous, Top Reasons Why ADA May Reach $0.5 in Next 10 Days
Crypto markets go green within the beginning of the fresh weekly trade as Bitcoin price successfully sustains above $17,000 for more than 24 hours. Cardano’s price also received a significant bullish push that assisted the price to rebound from the lower bottom and raised beyond $0.34 since the beginning of 2023. It appears that the bulls again entered the ring as the trading volume soared more than 100% in just a couple of hours.
With the massive upswing, the ADA price remained in the spotlight as it breached several short-term indicators and previous resistance zones. Trading currently at around $0.315 after rebounding finely from the bottom at around $0.24. The bulls managed to break above the 8-day EMA and 21 -day EMA, indicating the revival of the bullish trend as they have collected several liquidity barriers.
The price due to the market crash in the last few days of 2022, plunged below the support levels of the descending parallel channel. The token hovered below the channel for a short time frame as the recent bullish push raise the levels back above the channel.
However, the price is witnessing significant bearish pressure at the moment with an intention of lowering the price levels below $0.3. However, the bulls appear to be pre-determined as the price levels are held tightly above $0.31.
If Cardano successfully maintains the day’s close above $0.3 and the weekly close above $0.35, then the path toward $0.5 may be validated. The price may maintain a notable upswing regardless of the bearish interference which is expected at frequent intervals.
The bulls after a certain period may get exhausted and allow the bears to jump in. This may slightly impact the progress of the rally aiming for a price slash towards the 21-day MA level at $0.26.
Why Solana (SOL) and Cardano (ADA) Prices Surged by 20%? Will The Bulls
The crypto market seems to be recovering as the world’s largest cryptocurrency in the world, Bitcoin has managed to surpass the $17,000 mark leading the recovery rally. Among altcoins, the top position has been occupied by Cardano (ADA) and Solana (SOL) which have surged 20%.
At the start of the 2023 recovery rally, Solana’s price has gained nearly 70% and has managed to push the price from December 2022’s $8 to the present $13. Traders believe that Solana might rise and move past $15 in the days to come.
After FTX saw its downfall most of the cryptocurrencies were pulled back which also included Solana’s SOL. Hence, Solana closed the year 2022 with a fall of nearly 95% before bulls made their way back in 2023.
The same is with Cardano (ADA) which has managed to get positioned as the 8th largest cryptocurrency by market cap after flipping Dogecoin. This comes after Cardano successfully gained 20% in the last 24hrs and has bagged one of today’s toppers list.
Cardano’s 2023 journey has begun on a positive note after Cardano addresses holding 1M to 100M ADA accumulated more than 200 million ADA coins.
Solana & Cardano To Begin Their Next Bull Run
At the time of publication, Solana is selling at $16.38 with a surge of 22% in the last 24hrs. While Cardano has slightly dropped from its 20% gain and is now trading at $0.32 after an upswing of 17.86% over the last 24hrs.
As per its current trade, if Cardano’s ADA manages to hold on to its $0.3 level the currency can easily move beyond the $5 level soon. On the other hand, Solana’s next resistance lies at $18 and if SOL successfully claims this level the currency will begin its next bull run soon.
Orbeon Protocol’s (ORBN) Bull Run Continues as Cardano (ADA) and VeChain (VET) Remain Steady
This week’s market action has been a mix of bearish and bullish moves, with some cryptos surging while others pulling back. One of the biggest winners this week is Orbeon Protocol (ORBN), which is up 805% during phase 3 of the public presale. Meanwhile, Cardano (ADA) and VeChain (VET) are both set to surge in the coming months
Orbeon Protocol (ORBN)
To gain access to the resources necessary for success, startups must often appeal to venture capital firms or wealthy individuals. But what if an entire global community could invest in a project and enjoy the benefits of its success? This is the idea behind Orbeon Protocol (ORBN).
With Orbeon Protocol (ORBN), startups can mint equity-based NFTs that can be bought and sold on the blockchain. This unlocks a new form of capital, allowing startups to raise funds without relying on venture capitalists, banks, or other traditional funding sources.
Smart contracts remove any intermediaries, providing a more efficient and trustless digital marketplace. For example, the ‘Fill or Kill’ mechanism will automatically execute refunds if a project doesn’t hit the funding requirements.
Unraveling a new world of finance starts with the ORBN token, which is used to facilitate trades and access advanced features. For example, holding ORBN gives investors first access to new NFT listings, cheaper trading fees, and more.
Phase 1 and 2 of the public presale sold out rapidly, and it looks like phase 3 is following suit as analysts forecast ORBN to rise to $0.24 from its current price of $0.0362. Major exchange listings are right around the corner, so now’s the time to get involved if you haven’t already.
Cardano (ADA)
While most crypto projects fork off existing blockchains and use them as the basis for their products, Cardano (ADA) chose a different path. Cardano’s founding team has created a new blockchain from scratch, using cutting-edge development techniques and rigorous scientific research.
Cardano is designed to be an enterprise-grade platform with smart contract functionality, scalability capabilities, and interoperability between other blockchains. This has seen Cardano (ADA) attract a large following of people who think it could become the go-to blockchain in the future.
However, Cardano (ADA) seems to look better on paper than it does in practice, as Cardano has been struggling to gain adoption since smart contract development functionality rolled out in 2021. Cardano’s current price of $0.26 represents a 91.52% drop from the all-time high of $3.10 set in September 2021.
VeChain (VET)
VeChain (VET) is a leading blockchain platform that empowers businesses to build scalable dApps that can be used across various industries. VeChain boasts a wide range of use cases, including tokenized asset tracking, supply chain management, digital identity solutions, distributed governance protocols, and more.
VeChain (VET) has recently been in the news for its collaboration with Walmart China to help track food safety using its blockchain technology. This is just one example of the many innovative use cases the VeChain (VET) platform has to offer, with more partnerships planned for VeChain (VET) in the near future.
Despite its strong reputation in the industry, VeChain (VET) has been struggling recently as the price dropped from $0.2782 to $0.016 over the past year. VeChain (VET) will need to find a way to recover soon in order to remain competitive with other leading platforms in the industry.
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BitBoy Claims Cardano Is Bigger Than Solana, Calls SOL Supporters “Trolls”
Ben Armstrong is a YouTuber, podcaster, crypto enthusiast, and the founder of BitBoyCrypto.com. He is better known as BitBoy Crypto and attempts to educate and inform the crypto community.
He has recently been circulating claims concerning the Solana Blockchain’s uncertainty. Armstrong claimed that Solana was dead and that there might be no other way to save the network. He further claimed that Alameda Research was laundering money and brute forcing transactions every time the Solana blockchain paused. And the enthusiasts who own this currency should dump it.
Unsurprisingly, he has made yet another controversial remark about the token.
“ADA is 75% bigger than SOL,” BitBoy continues to slam Solana
In a recent tweet, Armstrong reminded the community that Cardano’s native coin, ADA, is 75% larger in terms of market capitalization value than SOL. Bitboy said that ADA was a much bigger cryptocurrency than SOL, pointing out that it had almost double the market cap of SOL when sharing the list of cryptocurrencies by market cap. While ADA was in the top 10, he said, SOL ran the chance of slipping to 15th place behind Tron’s TRX.
The crypto influencer believes that the end is close for Solana, which has been plagued by fear, uncertainty, and doubt as a result of its ties to the collapsed crypto exchange FTX and its disgraced founder Sam Bankman-Fried. Recent announcements from well-known NFT projects outlining plans to switch to Ethereum have made the issue worse.
Cause of Solana’s Dismissal of Performance
Solana’s main issue in late 2022 was its strong association with FTX founder Sam Bankman-Fried, who is facing eight criminal fraud charges after his crypto exchange went bankrupt. When FTX failed, investors bailed on Solana to the tune of $8 billion. But Solana has fallen even further in recent days as the rest of the cryptocurrency market has been largely quiet and prices have remained constant.
Additionally, two prominent projects, DeGods and y00ts have announced their departure from Solana and revealed that they would be migrating to Ethereum and Polygon. The projects’ creator, Rohun Vora, believes the projects have accomplished everything they can on the Solana network. Polygon and Ethereum are the best places to be in order to encourage growth.
While supporting a claim by a user that Solana is dead, Bitboy tweeted, “I’m sorry if this hurts your feelings… but this is facts, More NFT and crypto projects will leave Solana.”
The price of Solana is at $ 13.52 per (SOL / USD) with a current market cap of $ 4.97B USD. The future predictions do not look optimistic either.
Cardano Price Prediction 2023: Here’s Why ADA Price May not Reach Beyond $1
Cardano price prediction after quite a long time turns slightly bullish, displaying a diverse trend compared to previous ones. The token has been falling for more than a year without displaying any possibility of a rebound. The ADA price fell into the liquidity zone, below which buyers remained off-the-shore, hindering the growth in 2020-21.
However, considering the new trade set-up, the ADA price is attempting to clinch above the bearish pattern and surge with a large margin. The year 2023, is believed to be the starting point wherein the trend is set to change and remain incremental for a larger time. Hence it can be believed that Cardano’s token price may grow at least a little in its value, this year.
The ADA price has been largely bearish ever since the platform marked new highs and failed to maintain a significant upswing. However, the price has been largely trading within a very narrow region throughout H2 2022 and is believed to display a notable bull run very soon. After breaking out from the inner parallel channel, the ADA price is believed to rise beyond $0.40 to $0.42 which is the first target for the upcoming rally.
Moving ahead, the second potential target for growth is around $0.80 which is believed to be reached somewhere by the end of 2023. However, bears appear to have held a strong grip around the region’s $0.9, and hence a significant rejection may make its way out that may drag the price too as low as $0.23. The Cardano (ADA) price is believed to remain bearish for a larger time which may even compel the price to drop to $0.12 in 2023!
Here’s Why Cardano (ADA) Could Be “Altcoin Of The Year” In 2023
Cryptocurrencies are trying to gain stability, but Cardano, the ninth largest, is facing challenges in maintaining bullish momentum.
Despite a difficult year in 2022, altcoins like Cardano, Ethereum, and Polygon have seen significant developer activity and partnerships, which market experts believe will drive the price of the currency. Currently, Cardano is selling at $0.25 with a 3.27% increase over the past 24 hours.
Despite being one of the busiest blockchains in terms of developer activity, Cardano has seen a decline of over 80% since January 2022.
Crypto influencer Dan Gambardello is optimistic about Cardano’s performance in 2023, citing its developer activity as a key factor in expected gains.
Currently, Cardano is seen as a major competitor to Ethereum due to its proof-of-stake blockchain. Cardano reached an all-time high of $3.101 in August 2021, but fell to a low of $0.241 in December 2022. However, the fact that Cardano has passed the $0.25 mark suggests that it may experience a bull run in the near future.
Cardano And Solana Shed 4%, Snowfall Protocol Hits All-Time High Of $0.17
Both once-trendy crypto projects, Cardano (ADA) and Solana (SOL), have been plagued by several setbacks this year. Understandably, investors of these crypto assets are now concerned and have grown weary of the assets’ consistent decline. These investors are now in search of new investments to put their money into.
Projects such as Snowfall Protocol (SNW) allow investors to make huge returns. Unlike Solana and Cardano, Snowfall Protocol (SNW) has provided good yields to its early investors even under bearish pressure.
Cardano (ADA) Falls To Negative Pressure
Cardano (ADA) had a stellar year in 2021. The bulls were able to pull a 691% price increase in the calendar year, demonstrating their power. With such momentum, Cardano (ADA) reached a market capitalization of $97.52 billion and an all-time high of $3.03 in September 2021. But, since the bears seized control of the crypto market, Cardano has underperformed, taking a huge knock and nearing the $0.3 support level.
Cardano (ADA) has broken the $0.3 support level and currently trades at $0.243 – $0.257. Cardano (ADA) has been chastised recently, particularly for its poor development rate. This gradual progress continues to have a negative impact on the market, and no price rise is foreseen anytime soon.
No End In Sight To Solana (SOL) Decline
Aside from the market’s bearish pressure on Solana (SOL), a significant attack on its lending protocol has influenced a massive decline in value. An attacker stole $100 million from Mango Markets, a DeFi platform, and is currently holding it hostage until the network covers its liabilities. This announcement comes on the heels of yet another network glitch, and Solana will have a difficult time in the coming months.
Given all these negative pressures, Solana’s value has gradually declined. Solana (SOL) has dropped around 4% to $9.52 – $10.78 as of this writing, representing a drop of 96.30% from its peak. Following their dissatisfaction with Solana (SOL), investors are now motivated to invest in Snowfall Protocol (SNW).
Snowfall Protocol (SNW) Surges from $0.005 to $0.17
Snowfall Protocol (SNW) has launched its dApp prototype after experiencing tremendous success in recent months. The Snowfall Protocol (SNW) dApp enables users to transfer and receive tokens between wallets on several blockchains in a secure and timely manner. Likewise, Snowfall Protocol (SNW) includes smart contract features that allow token swaps and many other activities that necessitate token exchange.
Snowfall Protocol (SNW) promises to be the only platform investors require for asset transfer, eliminating the requirement for a trusted third party or middleman. The Snowfall Protocol (SNW) dApp functionality has assisted it in raising $3 million in just two months of the presale.
The current and final Snowfall Protocol (SNW) presale round will likely be more profitable than the last ones. Snowfall Protocol (SNW) distributed more than half of this round’s tokens in less than two weeks. As a result, the price of Snowfall Protocol (SNW) has risen from $0.05 to $0.17 in the last week, with more expected ahead of its January debut.
Get in while you can and invest in Snowfall Protocol (SNW) today!!!
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Cardano And Litecoin Enthusiasts Focus On Sparklo (SPRK)
The cryptocurrency market has always been dynamic. and the well-known cryptocurrencies that have been doing well in the past are currently struggling. On the other hand, it is possible to find new and innovative cryptocurrencies that allow investors to reap amazing returns.
Cardano (ADA) and Litecoin (LTC) are two examples of cryptocurrencies that are struggling as of now, and investors have shifted their focus to other alternative investments like Sparklo.
Litecoin (LTC) Has Been Popular For Over 10 Years
Litecoin (LTC) is one of the most successful all-time cryptocurrencies. The primary objective of Litecoin (LTC) was to replace Bitcoin. This is nothing but a peer-to-peer cryptocurrency. The developers behind Litecoin (LTC) address some of the most challenging issues that Bitcoin had as a cryptocurrency. I
Litecoin (LTC) allows merchants to accept payments and people to make payments to the merchants swiftly on the blockchain. However, the bear market has halted the growth of Litecoin (LTC), making investors look for other alternative investments.
Cardano (ADA) Might Gain Traction In 2023
Cardano (ADA) addressed the inherent issues that Ethereum (ETH) blockchain was having. It creates an outstanding decentralized network, based on completely different mathematical and scientific principles. Along with the help of Cardano (ADA) platform, users got the opportunity to proceed with developing smart contracts. Those smart contracts offer decentralized protocols and apps.
The Cardano (ADA) token value is currently halted due to the bear market but will surely get more traction by 2023.
Sparklo (SPRK) Project Will Bring Out Many New Opportunities
As a cryptocurrency project, Sparklo has been gaining a lot of attention recently. This cryptocurrency will allow investors to buy gold, silver, and platinum through NFTs. Each investment will result in an NFT being minted and fractionalized. If a user purchases the entire NFT, they can have the real-world asset (silver, gold, or platinum) delivered to a location of their choice.
Investing in precious and rare metals has always been a profitable venture. Sparklo project allows people to take it to the next level.
The project got recently audited by the Interfi Network, which proved how successful and stable it is. To provide additional stability, the Sparklo team locked in the token’s liquidity for 100 years.
The current Sparklo token price in the presale is only $0.013. Anyone can take the maximum opportunity out of this by investing in Sparklo.
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Oryen Network, Polygon, And Cardano. ORY Presale Live
Cryptocurrency has taken the world by storm in recent years, creating a passionate and ever-growing community of users. Three top contenders in this space are Oryen Network (ORY), Polygon (MATIC), and Cardano (ADA). These projects have set themselves apart from the rest with their innovative and user-friendly technology. All three of these platforms boast excellent roadmaps, quality features, and ease of use, making them attractive to investors looking for long-term returns.
Oryen Network stands out due to its unique approach to staking, trading, and asset management. With its signature protocol OAT (Oryen Autostaking Technic), new users can easily stake ORY tokens without having to give away custody of their assets or use staking contracts. This greatly increases security for investors while providing a fixed APY of 90% or 0.177% daily rewards paid out every 60 minutes. Investors also benefit from the Risk-Free Value(RFV) wallet, which helps maintain floor value during times of volatility.
In addition to being simple and secure, Oryen Network is gaining traction in other communities, such as Youtubers and news headlines, making it an attractive option for those interested in cryptocurrency investment. Moreover, it is the perfect time to buy presale ready for the next bull market, given current market sentiment at all-time low prices.
Polygon boasts a well-thought-out roadmap with regular updates that introduce powerful features such as multi-chain interoperability, which allows different blockchains within the Polygon ecosystem to communicate with one another seamlessly without any extra overhead cost or energy consumption. Additionally, MATIC holders can earn rewards through transaction fees on the network while taking advantage of strong layer two scalability solutions that offer breakneck transaction speeds with low fees when compared to Ethereum’s mainnet chain.
Finally, we have Cardano, which is arguably one of the most ambitious projects out there right now. It offers an incredibly reliable Proof-of-Stake consensus system called Ouroboros, which provides extreme levels of security and decentralization.
This platform has already achieved several major milestones, such as launching its incentivized test net and releasing several key components that power its decentralized applications (DApps). Cardano also plans on introducing smart contract functionality very soon, which will make it even more appealing for developers interested in building on blockchain technology than ever before.
To sum up, adoption is coming for all three projects: Oryen Network (ORY), Polygon (MATIC), and Cardano (ADA). Thanks to their ease of use, quality roadmap execution, and innovative features, each platform has attracted a large number of users who wish to take advantage of their respective opportunities offered by these projects in terms of providing higher yields with lower risk level investments than traditional assets classes offer today.
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