Cardano’s price is up 1.5% over the last 24 hours, which is in line with the 2% increase in the crypto market as a whole. At $0.315694, it has been essentially flat over the past week, but is down 15% over the past 30 days.
However, such a drop is part of the market-wide decline cryptocurrencies have witnessed since the collapse of FTX last month, and Cardano itself has other reasons for optimism. In particular, the new data reveals that Layer 1 blockchain networks lead the rest of the ecosystem in terms of development activity, with GitHub generating more daily than other platforms on most days of the week. committing.
And with the platform ecosystem growing week by week, such data points to a bright future for Cardano, one of the busiest and most popular Layer 1 blockchains. increase.
This suggests that ADA is significantly undervalued at the moment, and we anticipate a significant rally once the market returns to a more bullish state.
Cardano Price Prediction – ADA to the Moon?
The ADA chart suggests that altcoins are ripe for a rally. His Relative Strength Index (purple) has risen from near 30 in November to now around 45 and looks to continue to gain momentum.
At the same time, the coin’s 30-day moving average (red) is well below its 200-day moving average (blue) for most years. In purely technical terms, this means that ADA has rebounded significantly and we can’t wait to see it rise further.
Needless to say, weak global macroeconomic conditions mean investors may have to wait until a really strong ADA rally finally arrives. The same applies to the FTX situation, where he continues to weigh on market and investor sentiment. Other struggling companies Likely to follow in the footsteps of FTX.
However, once such negative factors are resolved, Cardano’s extremely strong fundamentals will position ADA to continue to enjoy significant gains.
For example, despite this 2022 bear market, the Cardano ecosystem has grown steadily over the past few months, with over 1,100 apps and projects built on the network, and over 100 projects already has started.
What’s interesting about Cardano’s recent growth is that since the network enabled smart contracts last September, over 3,900 Plutus scripts (i.e. Cardano’s version of smart contracts) have been deployed. This highlights how the developer is really building on the network, which is slowly gaining critical his mass.
This impression is further strengthened by the data from GitHub mentioned above. This data consistently shows that Cardano is either the network with the most regular activity, or the most active one.
Cardano does not lead such rankings every day, but it tends to lead most days, indicating that it is growing at a faster rate than most other networks. It suggests that in the not too distant future it will become one of the most active and widely used platforms, with ADA benefiting as a result.
Cardano’s total locked value is now $60 millionThis is still a modest number, but it’s important to remember that a year ago when ADA was much more expensive, it was almost $0, and at the beginning of the year it was only around $1 million.
The point here is that even with a low TVL, ADA is still the 9th largest coin on the market. As such, further development and adoption of Cardano could make ADA even more valuable and closer to Ethereum (ETH).
Assuming that cap approaches ETH (currently $150 billion), ADA could see a price of around $4.40 in the not too distant future. There is a possibility. Some experts have set a long-term target around $5.30. for coins.
Especially if Cardano continues its current trajectory and the demand for the platform continues to grow, a $10 ADA token could be possible in the future, but it could take some time to get there.
In fact, such price levels would require a significant improvement in global financial conditions, especially since the war between Ukraine and Russia is still ongoing.
That said, some altcoins have continued to perform well during this year’s recession. For the most part, this mostly involves pre-sale coins, which have been listed on exchanges after being held for sale and have recorded some impressive returns.
This includes Tadpole (TAMA). 1,800% price increase in October (compared to presale price), when it was listed on the major exchange OKX. Also included is a lucky block (LBLOCK) that rises to its highest value. 6,000% Compared to the sale price of $0.00015.
Both of these coins have finished their respective pre-sales, but the following three tokens are still on sale and will be listed soon.
IMPT (IMPT) – 2 days left for presale
impact is a carbon credit marketplace that rewards consumers for shopping at eco-friendly merchants. When it launches next year, carbon offsets will be issued as his NFTs on the Ethereum blockchain, and users will be able to purchase NFT-based offsets using their IMPT tokens received as rewards for shopping using the platform. You will be able to
Since launching in October, IMPT has raised more than $16.7 million, with 1 IMPT currently priced at $0.023. The sale will end in just over two days, with listings on Uniswap, LBANK Exchange and Changelly Pro following soon.
Dash 2 Trade (D2T) – Final Presale
dash 2 trade An Ethereum-based trading intelligence platform that provides investors with real-time analytics and social trading data to enable them to make more informed trading decisions. It will go live in early 2023 and D2T tokens will be used to pay monthly subscription fees to the platform (there are two subscription tiers).
Dash 2 Trade’s pre-sale is now in its final stages with Phase 4 Already raised over $9 millionIt also announced that it will be listed on Uniswap, BitMart and LBANK Exchange early next year. This means early investors can take profits quickly.
Robo era (TARO)
Also, using Ethereum, robot era (TARO) is a sandbox-style metaverse where gamers play as robots and participate in the creation of virtual worlds. This includes NFT-based land, buildings, and other in-game items. The game also plans to allow players to link with other metaverses to create an interoperable multiverse.
1 TARO is currently priced at 0.020 USDT (can be purchased using USDT or ETH), but this price will increase to $0.025 in the second stage of the presale.