Will The Price Of Cardano Increase 10 Times In This Alternative Season?
The cryptocurrency world has always been eager to witness the main driving force behind the heavy burden of digital assets on the market. Numerous digital currencies have been crawling in a narrow range, and assets are still tied by shorts. Therefore, industry insiders are eagerly looking forward to the entry of bulls to help digital assets overcome bears.
Digital assets such as Cardano and Ripple have been surrounded by bear markets. Community enthusiasts have been looking for digital assets to break through barriers. However, as the network reaches a new milestone, the situation in Cardano appears to be improving. In contrast, the use cases of the web emerged from the shadows.
Is Cardano emerging from the shadows?
The Cardano network reached a new milestone of 20 million transactions, without a break in the network’s four-year history. Many De-Fi protocols are under development, such as Aada, MELD, Liqwid, Adalend, etc. According to some reports, MELD has obtained USD 1 billion worth of ADA through IPSO pledge.
At the same time, Cardano-based DEX Sundaeswap announced that its testnet is scheduled to be launched on December 5, 2021. The testnet will enable developers to debug any errors and provide a broader perspective on the operation of the platform.
The Cardano network will also host Fracada, an open source dApp that can lock the NFT and mint many tokens representing the NFT. Sources indicate that there are more than 2 million native tokens on the Cardano blockchain. Since October, this number has almost doubled.
Cardano (ADA) Price
As of press time, the ADA price was $1.59, but it did not rise. The 24-hour trading volume is $1,492,655,651. The market value of ADA is hovering around US$50,555,811,019. Since the previous day, the transaction price of the digital asset has been between US$1.52 and US$1.62. The new high is still far from reaching $3.09.
Analysts believe that ADA is a pair of BTC. He believes that ADA will begin to adjust its price trajectory in 2020 and undergo a substantial correction in the second quarter of this year. Supporters expect to trigger or test support beyond 2350 SATS.
#Cardano is very simple.
We are copying/pasting the structure for 2020, where it has undergone a lot of revisions in the second quarter of this year.
Assuming that the green transcendence will be a trigger or test of 2350 sats. pic.twitter.com/CyW8umNzBz
— Michaël van de Poppe (@CryptoMichNL) December 1, 2021
In general, since the Alonzo hard fork upgrade, ADA prices have been stagnant. Netizens are optimistic that the price of ADA will recover its share in the counterfeit season. As the network gradually witnessed the increase of De-Fi and DEX. This may push prices to higher highs.