Cardano is gaining traction because of a rise in interest in the protocol’s usefulness and growth metrics. Holders of Cardano had been hoping for a trend reversal since the network has been steadily increasing in value, with several utility-based apps in the works.
The market crisis has wreaked havoc on the company’s digital assets. As a result, several digital currencies have seen double-digit losses. Most cryptocurrencies have reached values of 40 to 70 percent. The Cardano network has reached a new milestone in terms of growth. Meanwhile, an industry proponent explains the pricing trend of ADA.
Cardano Is Unfazed By The High Tides!
The Cardano network adds another feather to its crown, as reports claim that the number of wallets staking ADA has surpassed one million. This comes on the heels of the network surpassing the 20 million transaction threshold a few days ago.
On its network, the network will also host DEXes. They are scheduled to be released by the Christmas holidays. In addition, SundaeSwap‘s decentralized exchange has launched its testnet. Consumers may take part in the DEX experience while also recommending improvements.
Price of Cardano (ADA)
At writing, ADA was trading at $1.31, indicating a 4.8 percent drop. The current market capitalization of ADA is $41,946,313,810. The total volume of trades around the clock is $2,445,684,480. Since the previous day, the digital asset has traded in a range of $1.26 to $1.38.
The crypto expert explains that ADA’s price estimates follow a similar pattern. He says that if the support is broken while the RSI is resetting, the price of ADA will drop to roughly 0.00002734 to 0.00003000 SATS. If the previous level of support is gone, the following level of support is 0.00002332 SATS.
Overall, the ADA price remaining over the $1 mark despite the odds is commendable. However, a growing number of stakeholders are advocating for higher ADA costs. With the transition to the next age and more adoptions on the way, we may anticipate the digital coin to reach new heights.