cardano (ADA) has struggled to keep pace with its major crypto rivals such as Bitcoin (BTC) and Solana (SOL) so far this year.
While these two cryptocurrencies are up by over 70% and 110% respectively, cardano (ADA) is up a modest 50%.
Some are nevertheless predicting that the cryptocurrency, last trading around $0.38 per coin according to CoinGecko, has entered a new bull market, breaking its 2021/2022 downtrend earlier this year and building on that breakout. Thanks for “confirming” when this one bounced successfully. Retesting this downtrend.
But others worry that “vulnerable” cardano Network fundamentals may inhibit the potential for a bull market.
Price Prediction – Will Cardano (ADA) drop to $0.05?
Despite currently ranking as 7th The largest cryptocurrency by market capitalization, according to CoinGecko, many cardano Bears and critics alike believe that the cryptocurrency is largely worth more than its fundamentals.
Bears often point to Cardano’s still very low trade value closure (TVL) within decentralized finance (DeFirefer to it as a “ghost chain” given the ecosystem and its low daily transaction count.
Cardano had a TVL of around $182 million, orders of magnitude below TVLs on its proof-of-stake layer-1 blockchain rivals such as Ethereum and Solana.
Meanwhile, the daily transactions taking place on the Cardano blockchain stood at around 61,000, well below rival blockchains.
Critics argue that Cardano’s inflated market cap appears to be based on expectations of ecosystem development that have yet to materialize.
As Cardano fails to keep up with competitors, it could slowly begin to fall into relative irrelevance and this could lead to a major bearish scenario for ADA price.
Some have warned that ADA could be sent as low as $0.05.
Of course, these price predictions are extreme.
More likely than not, even though Cardano DeFi As the ecosystem continues to struggle to keep pace with the growth of the rival DeFi ecosystem, as long as the broader crypto market remains in a bull market, ADA price should at least be able to squeeze long-term gains.
Cardano bulls, meanwhile, can take heart from strong leading indicators that explosive ecosystem growth is on the way – Cardano is one of the most developed blockchains and creeping higher in its TVL this year could be a big push towards DeFi relevance.
Greener Cardano Alternatives To Consider – EcoTera (EcoTera)
Investors should always be looking to diversify their crypto holdings.
One high-risk-high-reward investment strategy that some investors may consider is getting involved in crypto presales.
This is where investors buy tokens of up-start crypto projects to help fund their development.
These tokens are almost always sold very cheaply and have a long history of pre-sales providing huge exponential returns to early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their pre-sale investment is great.
on the team cryptonews Spends a lot of time combing through pre-sales projects to help pick out investors.
One such project that the team has identified as having very strong potential is ecoterra,
ecoterra Cryptocurrency is the core of a blockchain-powered green ecosystem that encourages eco friendly behavior,
acotera’s The ecosystem includes a Recycle to Earn (R2E) platform, a carbon offset marketplace, a marketplace for recycled materials, and an Impact Profile.
The green web3 start-up’s R2E app is supported in any country that uses reverse vending machines (RVMs), meaning a huge potential market.
Ecoterra is in the 4th phase of its ECOTERRA token pre-sale, currently the price of the token is only $0.007.
The project just passed the huge milestone of raising over $2.8 million.
Potential investors should note that the pre-sale price will soon rise to $0.00775 and the token will be listed on exchanges at $0.01 – a jump of over 40% from current levels.