Cardano price is up by 1.5% over the past 24 hours, which is in line with the 2% increase in the entire cryptocurrency market. At $0.315694, it was basically flat over the past week but lost 15% over the past 30 days.
While such a decline is part of a market-wide decline crypto has experienced since the collapse of FTX last month, Cardano has more reasons to be optimistic. Specifically, new data has revealed that the layer-one blockchain network leads the rest of the ecosystem in terms of development activity, with more daily GitHub commits than other platforms most days of the week.
And with the platform seeing its ecosystem grow with each passing week, such data point to a bright future for Cardano with it being one of the busiest and most popular layer-one blockchains. In turn, this suggests that ADA is dramatically underpriced at the moment, with substantial rallies predicted for it when the market returns to more bullish conditions.
Cardano Named Top Blockchain for Daily Development Activity as Cardano Price Predictions – ADA to the Moon?
ADA’s chart shows that the altcoin is ripe for a rally. Its Relative Strength Index (purple) has risen from near 30 in November to near 45 now, and looks set to continue gaining momentum.
At the same time, the coin’s 30-day moving average (red) remained below its 200-day average (blue) for most of the year. In purely technical terms, this means that ADA is long overdue for a big rebound and further uptrend.
Needless to say, weak global macroeconomic conditions mean that investors may still have to wait for a really strong ADA rally to finally arrive. The same goes with respect to the FTX situation, which continues to disappoint the market and investor sentiment as well. other struggling firms FTX is likely to come on vacation.
But once such negative factors are resolved, Cardano’s very strong fundamentals put it in a position where ADA can generate substantial gains.
For example, even with this 2022 bear market, the Cardano ecosystem has been growing steadily over the past few months, with over 1,100 apps and projects now being built on its network, with over 100 projects already launched. Huh.
One thing to note 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. It highlights how developers are really building on their network, which is slowly gaining a critical mass.
This notion is further reinforced by the aforementioned data coming from GitHub, which consistently shows Cardano as either the network with the most daily activity or as the most active.
While Cardano does not lead the rankings as such every day of the week, it does lead on most days, showing how it is growing faster than other networks. In turn, this suggests that it will be one of the most active and widely used platforms in the not too distant future, resulting in benefits for ADA.
Cardano’s total value locked figure now stands at $60 million, While this is still a modest figure, it is important to remember that it was roughly $0 a year ago and only around $1 million at the start of the year, when ADA was much higher in price.
The point here is that even with the low TVL, ADA is still the ninth largest coin in the market by cap. As such, once Cardano becomes more developed and attracts more adoption, ADA will become even more valuable, potentially closer to Ethereum (ETH).
Assuming ETH (which currently stands at $150 billion) has its cap, ADA could potentially hold a price of around $4.40 in the near future. Of course, if the market enters a new bullish phase, it could go even higher Some experts set a long-term target of around $5.30 for coins.
quick profit
On the other hand, such price levels would require a significant improvement in the global financial picture, which is unlikely to come soon, especially with the Ukraine-Russia war still ongoing.
That said, some altcoins have been able to perform well despite this year’s downturn. For the most part, this mainly consists of pre-sale coins, which have managed to maintain their sales after getting listed on exchanges and posting some impressive returns.
This includes Tamadoge (Tama), which is gained up to 1,800% (relative to its pre-sale price) in October, when it listed on the leading exchange OKX. It also includes the Lucky Block (LBLOCK), which rises as high as 6,000% compared to its selling price of $0.00015.
While both of these coins have apparently ended their respective presales, the three tokens below are still holding their sales, with listings coming very soon.
Dash 2 Trade (D2T)
dash 2 business Ethereum-based trading intelligence platform that provides investors with real-time analytics and social trading data, so they can make more informed trading decisions. It will go live in early 2023, with its D2T token being used to pay for a monthly membership fee on its platform (there are two membership levels).
Dash 2 Trade pre-sales now in their fourth and final phase has already raised over $9 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.
Robotera (Tarot)
Also using ethereum, robot era (TARO) is a sandbox-style metaverse that will enable gamers to play as robots and participate in the creation of its virtual world. It includes NFT-based land, buildings and other in-game items, with the game also planning to link players with other metaverses and create an interoperable multi-verse.
1 TARO is currently selling for 0.020 USDT (it can be purchased using USDT or ETH), however this price will increase to $0.025 in the second phase of its pre-sale.
IMPT (IMPT)
IMPT There is a carbon-credit marketplace that would reward consumers for shopping with eco-friendly merchants. Once it launches next year, it will issue carbon offsets in the form of NFTs on the Ethereum blockchain, allowing users to purchase such NFT-based offsets using the IMPT token, which rewards them for purchases made using the platform. are received as
Since launching its sale in October, IMPT has raised over $16.7 million, with 1 IMPT currently being sold at a price of $0.023. The sale is set to end in just two days, with listings on Uniswap, LBANK Exchange and Changelly Pro to follow shortly thereafter.
Bitcoin Crypto Related Post