cardano price prediction The trade remains bearish below the $0.3285 resistance as the 50-day SMA and RSI are driving the bearish trend in ADA. The ADA/USD pair opened at $0.3118 and since then reached a high of $0.3130 and a low of $0.3106, the pair is currently trading at $0.3130. The price has declined by 0.50% during the last 24 hours.
Moreover, the ADA/USD pair fell by more than 2% in the last week.
Cardano Surpasses 7.2 Million in Basic Assets
The Cardano network has seen an increase in activity recently. On December 10, Adverse News tweeted that the Cardano network recently reached 7.2 million native assets.
Adverse News also recently tweeted that the Cardano network completed 66,000 transactions in the past 24 hours. The two milestones did not have any effect on the ADA/USD price, as the altcoin price is currently declining.
ADA on BitMEX and Binance US
Binance.US, the US subsidiary of Binance exchange, tweeted on December 9 that users can now trade Cardano (ADA) against USD Coin (USDC). Users can now exchange ADA for USDC and other currencies on Binance.US.
Additionally, the exchange lists Cardano’s rival Solana (SOL), which can be exchanged for stablecoin trading pairs. Along with the announcement, Binance.US emphasized that the goals of both cryptocurrencies are “scalability, interoperability, and sustainability.”
ADA was also listed on the BitMEX market earlier this week. The new listing positively affected the ADA/USD price and moderated its decline.
Cardano launches new unprecedented revolutionary product
Cardano’s decentralized finance (DeFi) ecosystem is expanding rapidly. Optim Finance (OTM), a farming and yield generating system, is set to become the latest groundbreaking DeFi protocol to launch on the Cardano blockchain.
Optim Finance has confirmed on its official Twitter account that its SPO Liquidity Bond function will be available on mainnet on December 9th. The announcement invited community members to join a mainnet community call hosted on Twitter Spaces.
Optimum’s SPO Liquidity Bond offering in the Cardano ecosystem will enable unique use cases such as SPO lending, leveraged ISOs and Initial Bond Offerings.
According to Optim, the platform will accomplish this by allowing users to rent ADA delegation rights and allow stake pool operators (SPOs) to borrow these rights along with their rewards for a set period of time.
This will help further decentralize the Cardano network by addressing the challenges faced in attracting delegates to new SPOs. The news is favorable to the ADA/USD exchange rate.
Cardano’s MuesliSwap introduces ‘Organic APR’
Cardano’s decentralized exchange has introduced a new tool to increase liquidity. According to a developer Twitter thread, the “Organic APR” function increases token emissions as more liquidity is added to the pool. It was added to the single pool on 8 December. Later it could be made available in additional pools.
The new functionality increases token issuance if more liquidity is added to the pool. According to the developers, if organic APR is not present, users will not be motivated to share information about the exchange. Cardano users have praised the new function.
One user described it as “a cool idea”, while another described it as “ingenious”. However, some users have criticized the new feature, claiming that it will cause inflation and provide volatile rates.
Cardano Price Prediction – Can ADA Go 10x From Here?
On December 11, the ADA/USD exchange rate opened at $0.3125 and reached a high of $0.3138 and a low of $0.3006. An immediate support for Cardano lies at $0.2960, and a bearish breakout of this level could expose the coin price to $0.2620.
An immediate resistance for Cardano remains at $0.3320, and a break above this level could take the price towards $0.3775. The RSI and MACD are diverging, with the RSI in a sell zone and the MACD in a buy zone, indicating indecision in the market.
To determine the next price action, Cardano needs to break out of the $0.2960 to $0.3320 trading range.
Despite the bearish price action, the coins listed below are gaining traction and attracting the attention of crypto whales.
IMPT – ONLY 1 DAYS LEFT IN THE PRE SALE
IMPT There is a carbon-credit market that rewards customers for doing business with environmentally friendly companies. When it launches next year, it will issue carbon offsets as NFTs on the Ethereum blockchain, allowing users to purchase such NFT-based offsets using IMPT tokens, which they earn as rewards for purchasing on the platform. We do.
IMPT has raised over $18.2 million since its initial public offering in October, with 1 IMPT currently trading at $0.023. The sale will end in less than two days, followed by listings on Uniswap, LBANK Exchange, and Changelly Pro.
Dash 2 Trade (D2T)
dash 2 business Is a trading intelligence platform based on Ethereum that provides real-time analytics and social trading data to help investors make better trading decisions. It will go live in early 2023, and its D2T token will be used to pay for the monthly platform subscription fee.
Pre-sale of Dash 2 Trade, now in its fourth and final phase, has already taken place Raised over $9.3 million, It also announced listings on Uniswap, BitMart and LBANK exchanges early next year, meaning early investors will be able to lock in some profits soon.
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