Advertisement
AD

Main navigation

Cardano Bears Stun Bulls Amid Fight for Rebound

Advertisement
Fri, 20/09/2024 - 15:15
Cardano Bears Stun Bulls Amid Fight for Rebound
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

While many altcoins are looking to catch up to their past sell-off figures, Cardano (ADA) appears to lag. As of this writing, the ADA price changed hands for $0.3535, up 0.74% in 24 hours, per CoinMarketCap. While it appears that ADA bulls have leverage in this regard, sellers should be prepared for a major surprise.

Advertisement

Key metric might stunt Cardano's growth

According to market data, the Cardano 24-hour trading volume is $278,041,430, down 14%. As simple as this metric appears, it underscores that the sentiment pushing Cardano up is different.

Related

Unlike most altcoins with positive volume, ADA has limited catalysts to support the growing price trend. The sentiment can easily be influenced, considering how the weekly and monthly growth rates negate each other. Whether or not the bulls will give in to the bears remains to be seen.

Ecosystem trends have generally positioned Cardano as an important digital currency. Compared with other chains, it remains a highly viable coin, now largely recognized for its technology. A recent poll that saw thousands of community users participating judged the protocol as a better alternative to Ethereum and Solana.

In addition to this recognition, ADA remains a highly attractive coin to ecosystem whales. The digital currency records epic whale boosts more frequently, a trend that, if sustained, can trigger a short-term uptick.

ADA frontier

Notably, the protocol's founder, Charles Hoskinson, is low in price or value appreciation. Rather, he is more keen on communicating what Cardano as a technology can do for the community. In line with this, the Midnight Network technology is moving forward, with new updates around the launch of the privacy network’s native token.

Related

The network has also launched decentralized governance for its ecosystem to hand over to the community control of future progress. To perfect this evolution, the second phase of the Chang hard fork upgrade will be completed, with ADA playing a key role.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD