The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Top Cryptos Cardano (ADA)

ADA Crypto: Cardano Price Prediction After the $51 Billion Meltdown

Crypto Prices: Cardano (ADA), Still Pessimism Among Operators – D1SoftballNews.com
Share on FacebookShare on Twitter


The Cardano price is hovering near its lowest level since July this year as investors focus on the recent hawkish Federal Reserve decision and the overall weakness of the cryptocurrencies industry. ADA, the native token, is trading at $1.22, which is about 60% below the highest level this year. 

Its total market capitalization to more than $39 billion. This means that investors have lost more than $51 billion since its peak market capitalization was more than $90 billion.

Why has ADA crypto price crashed?

Cardano is a smart contract platform that prides itself for being the first peer-reviewed platform. The developers’ goal was to create a platform that solves some of the biggest challenges using blockchain. Some of the industries they targeted were in education, logistics, and in manufacturing.

The biggest development in Cardano’s network was the Alonzo hard fork. This was a development that brought smart contracts to the network. Smart contracts are the technologies that help developers build projects like those in Decentralized Finance (DeFi) and non-fungible tokens (NFT).

While this was a positive move, some critics were concerned about the network for three main reasons. First, there was a concern that the developers had spent too much time building the smart contract features. Besides, some young platforms like Avalanche and Terra have achieved this scale within a short period.

1


eToro

Minimum Deposit

$50

Exclusive Promotion

More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto, or trade cryptocurrencies via CFDs

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Second, there are concerns about competition in the industry. Today, there are many smart contract platforms that are doing relatively well. Some of them are Avalanche, Binance Smart Chain (BSc), Polygon, and Algorand. 

Third, the Cardano price has struggled because of Ethereum itself. While Ethereum has its flows, it seems like developers still believe in it. This explains why more than 80% of developers still choose a network that is relatively slow and expensive.

Cardano price prediction

Cardano price

The daily chart shows that the ADA price has been in a major bearish trend in the past few months. The coin’s sell-off accelerated when it moved below the key support at $1.9090, which was the lowest level in September. 

Cardano has even formed a death cross. This is a pattern that happens when the 50-day and 200-day moving averages crossover. 

At the same time, the coin’s Relative Strength Index (RSI) has declined. It also seems like it has formed a bearish pennant pattern. 

Therefore, while the Cardano price will likely bounce back, for now, the coin will likely maintain a bearish trend as bears target the key support at $1.



Read More:ADA Crypto: Cardano Price Prediction After the $51 Billion Meltdown

Tags: ADABillionCardanocryptoMeltdownPredictionprice
Previous Post

How Michael Jordan Will Bet On Solana NFTs With New App

Next Post

The Much-Anticipated ‘Trading Fun’ Blind Box NFT Christmas Event from Kine Protocol Starts

Related Posts

3 Tokens To HODL For 2022 Bullrun: Ripple(XRP), Logarithmic Finance (LOG) And Litecoin

3 Tokens To HODL For 2022 Bullrun: Ripple(XRP), Logarithmic Finance (LOG) And Litecoin

by The Cryptos News
May 18, 2022
0

Everyone is eagerly predicting the next cryptocurrency to soar in value, even more so now that the crypto market is...

Crypto Crash Latest Updates May 18: Bitcoin below $30,000 again; Cryptocurrency market cap

Crypto Crash Latest Updates May 18: Bitcoin below $30,000 again; Cryptocurrency market cap

by The Cryptos News
May 18, 2022
0

Cryptocurrency Market Crash and Top Crypto Prices Today (May 18, 2022): The global crypto markets remain bearish amid a...

Coinbase Plans To Slow Hiring Amid Crypto Market Downturn – Benzinga

Coinbase Plans To Slow Hiring Amid Crypto Market Downturn – Benzinga

by The Cryptos News
May 18, 2022
0

Major crypto exchange Coinbase Global Inc COIN plans to slow hiring in the wake of rapidly declining cryptocurrency prices.What...

Crypto for good? Digital currencies hold potential to further financial inclusion |

Crypto for good? Digital currencies hold potential to further financial inclusion |

by The Cryptos News
May 18, 2022
0

Corporate sustainability professionals who are skeptical about cryptocurrency have reason to be. Just last week, a massive sell-off triggered...

Next Post
The Much-Anticipated ‘Trading Fun’ Blind Box NFT Christmas Event from Kine Protocol Starts

The Much-Anticipated 'Trading Fun' Blind Box NFT Christmas Event from Kine Protocol Starts

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Baked Bean Fork Season is Here

Baked Bean Fork Season is Here

April 18, 2022
A new Cryptocurrency Exchange – Something Big Waiting To Happen? – Digital Journal

A new Cryptocurrency Exchange – Something Big Waiting To Happen? – Digital Journal

December 10, 2021
DAXE – The First Multi-Chain Certificate of Deposit

DAXE – The First Multi-Chain Certificate of Deposit

April 18, 2022
ADVERTISEMENT

Investment

Dubai eyes crypto hub status as global regulators remain cautious

Dubai eyes crypto hub status as global regulators remain cautious

May 18, 2022
Investor who lost $2.3 million terrifies crypto founder’s home in alleged trespassing

Investor who lost $2.3 million terrifies crypto founder’s home in alleged trespassing

May 18, 2022
How to invest more sustainably in crypto – MoneySense

How to invest more sustainably in crypto – MoneySense

May 17, 2022
Japan’s largest investment bank Nomura readies new crypto subsidiary

Japan’s largest investment bank Nomura readies new crypto subsidiary

May 17, 2022
SEC Chair Gensler warns on investing in crypto after meltdown

SEC Chair Gensler warns on investing in crypto after meltdown

May 16, 2022

Prices

How a Trash-Talking Crypto Bro Caused a $40 Billion Crash

How a Trash-Talking Crypto Bro Caused a $40 Billion Crash

May 18, 2022
Wall Street Giant Issues Stark NFT Prediction After Huge $1 Trillion Bitcoin, Ethereum And

Wall Street Giant Issues Stark NFT Prediction After Huge $1 Trillion Bitcoin, Ethereum And

May 18, 2022
Cryptocurrency price collapse offers hope for slowing climate change – here’s how

Cryptocurrency price collapse offers hope for slowing climate change – here’s how

May 17, 2022
Investors pull $7bn from Tether as stablecoin jitters intensify

Investors pull $7bn from Tether as stablecoin jitters intensify

May 17, 2022

Trading

Top cryptocurrency prices today: Polkadot, Bitcoin, Cardano, Avalanche drop up to 4%

Top cryptocurrency prices today: Polkadot, Bitcoin, Cardano, Avalanche drop up to 4%

May 18, 2022
What Is a Crypto Wallet?

Asset-Backed Cryptocurrency Trading is Now Simple & Secure with NyXExchange’s Innovative

May 17, 2022
Bitget – Best Place to Trade Cryptocurrency With Leverages

Bitget – Best Place to Trade Cryptocurrency With Leverages

May 17, 2022
Cryptocurrency trader Bitcoin says it is set to resume retail trading after raising

Cryptocurrency trader Bitcoin says it is set to resume retail trading after raising

May 17, 2022
Founders Personally Liable For Failure To Register Cryptocurrency Trading Platform

Founders Personally Liable For Failure To Register Cryptocurrency Trading Platform

May 16, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz