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Cardano has recently faced a period of stagnation with its native token ADA trading predominantly between $0.35 and $0.45 since the August 5 drop. Although ADA has recovered from a low of around $0.29 on August 5 to the current price of $0.
After Bitcoin & Ethereum, the crypto space has witnessed the emergence of new altcoins, which has expanded the use cases. With the emergence of AI, RWA, MEMES, and many more, primitive tokens like Cardano (ADA), Polkadot (DOT), and XRP appear to be trading underneath them.
Cardano's current cycle growth remains weak as new users choose competitors.
ADA has been trading at almost 90% below its record high posted on September 2021.
An analytics firm has discussed about how the adoption of the Cardano (ADA) network has hit a phase of stagnation during the past year. Cardano Total Holders Are Unchanged From One Year Ago According to data from IntoTheBlock, ADA has seen its userbase stagnate over the last year.
Cardano is trading around $0.355, just below a significant resistance point. Recent market trends have shown ADA in a downward trajectory, with technical indicators pointing to a bearish sentiment.
An analyst shared an optimistic prediction of $5 for Cardano despite current market struggles.
Story Highlights The live price of the Cardano token is . ADA coin price could reach a potential high of $2.02 by the end of 2024. Cardano price, with a potential surge, could go as high as $10.32 by the end of 2030.
Cardano's (CRYPTO: ADA) stable user base has prompted some traders to consider the altcoin as undervalued and due for a potential bullish reversal. What Happened: An IntoTheBlock analysis of the Cardano network shows that despite challenges in attracting new users, the number of addresses with a balance has remained steady at around 4.45 million for over a year.
Cardano (ADA) appears set to continue its decline as the number of active addresses trading the altcoin keeps falling.
The palpable growth of Solana (SOL) and Toncoin (TON) has outshined Cardano (ADA) in the web3 space over the past year. Cardano network has in the process received an equal share of criticism and applause from the crypto community.
Cardano (ADA) is currently navigating a period of uncertainty, largely influenced by Bitcoin's recent weakness. As ADA price enters a consolidation phase, market indicators suggest a potential short-term decline.
According to the analysts on the Discover Crypto YouTube channel (with 1.4 million subscribers), Cardano might surge to $5. This prediction starkly contrasts with the pessimistic views currently circulating within the broader cryptocurrency community, challenging recent headlines that have questioned ADA's future viability.
In a recent analysis by on-chain analytics firm IntoTheBlock on X, the Cardano network has been highlighted for its impressive on-chain volume.
Bitcoin (BTC) market sentiment remains erratic, as the wild volatility experienced this month looks set to continue. BTC had seen a spectacular collapse to a six-month low but quickly regained ground.
The price of Cardano (ADA) has reached bearish exhaustion and has fallen below the moving average lines. Price analysis by Coinidol.com.
Cardano (ADA) founder Charles Hoskinson is issuing a warning to the crypto industry as the 2024 US presidential election enters the final three months. Hoskinson says on the social media platform X that the administration of President Joe Biden and Vice President Kamala Harris continues to wage war on the crypto industry.
ADA price has entered into a range right below a critical resistance level, which has suppressed its price for the last three weeks. More node operators migrated to v9.1.0, bringing the total number to 79%.
The S&P 500 Index is extending its recovery, boosting buying in Bitcoin and select altcoins in the near term.
Cardano's Chang hard fork held up by slow adoption from exchanges and SPOs, affecting the move to on-chain governance.
Most of the coins have returned to the red zone at the beginning of the week, according to CoinMarketCap.
Cardano (ADA) has jumped into the top 3 in cryptocurrencies with the highest developmental activities, surpassing even Ethereum (ETH), the top altcoin, and the second-largest cryptocurrency by market capitalization.
Despite the current bearish trend, some analysts maintain a bullish outlook for Cardano's future.
Cardano price began consolidating on Saturday after signs of market weakness flashed on the Bitcoin chart. The asset broke down from a bearish setup, showing signs of dropping further.
