Cardano Price Prediction As Cardano Named Top Blockchain For Daily Development Activity – ADA To The Moon?
The Cardano price has risen 1.5% in the past 24 hours, in line with a 2% increase for the cryptocurrency market as a whole. At $0.315694, it is basically flat over the past week, but down 15% over the past 30 days.
However, such falls are part of the market-wide decline crypto has witnessed since the FTX collapse last month, with Cardano itself having several reasons to be optimistic. In particular, new data has revealed that the layer-one blockchain network leads the rest of the ecosystem in terms of development activity, with more daily GitHub commits than other platforms on most days of the week.
And with the platform seeing its ecosystem grow with each passing week, such data points to a bright future for Cardano, where it is one of the busiest and most popular layer-one blockchains. In turn, this suggests that ADA is dramatically underpriced at the moment, with significant gains predicted for it as the market returns to more bullish conditions.
Cardano Price Prediction As Cardano Named Top Blockchain For Daily Development Activity – ADA To The Moon?
ADA’s chart suggests the altcoin is ripe for a rally. Its relative strength index (purple) has risen from near 30 in November to around 45 now, and looks set to continue gaining momentum.
At the same time, the coin’s 30-day moving average (red) has remained comfortably below its 200-day average (blue) for most of the year. Technically, this means that the ADA has long been waiting for a major recovery and further increase.
Needless to say, the weak global macroeconomic situation means investors still have to wait for a really strong ADA rally to finally arrive. The same is true with regard to the FTX situation, which also continues to weigh on market and investor sentiment, with other struggling firms likely to follow in FTX’s wake.
However, once such negative factors are resolved, Cardano’s very strong fundamentals put it in a position where ADA can continue to enjoy significant gains.
For example, even with this bear market in 2022, the Cardano ecosystem has grown steadily in recent months, with more than 1,100 apps and projects now building on the network, as well as more than 100 projects already launched.
What is interesting to note about Cardano’s recent growth is that since the network enabled smart contracts last September, over 3,900 Plutus scripts (i.e. Cardano’s version of smart contracts) have been deployed. This highlights how developers are actually building their network, which is slowly gaining critical mass.
This impression is further reinforced by the aforementioned data coming out of GitHub, which consistently shows Cardano as either the network with the most daily activity, or among the most active.
Although Cardano does not lead such rankings on every day of the week, it tends to lead most days, showing how it is growing faster than most other networks. In turn, this suggests that it will become one of the most active and widely used platforms in the not-too-distant future, with ADA benefiting as a result.
Cardano’s total value locked figure is now $60 million. While this is still a modest number, it is important to remember that it was more or less $0 a year ago and only around $1 million at the beginning of the year, when ADA’s price was much higher.
The point here is that even with a low TVL, ADA is still the ninth largest coin in the market by cap. As such, as Cardano develops more and attracts more adoption, ADA will become even more valuable, potentially approaching ethereum (ETH).
Assuming the limit approaches ETH’s (which is currently $150 billion), ADA could potentially be priced around $4.40 in the not-so-distant future. Of course, if the market enters another bullish phase, it could rise even higher, with some experts setting a long-term target of around $5.30 for the coin.
Faster gains
Then again, such price levels would require a significant improvement in the global economic picture, which is unlikely to come anytime soon, especially with the Ukraine-Russia war still ongoing.
That said, some altcoins have managed to do well even with this year’s downturn. For the most part, this has mainly included presale coins, which after holding the sale have gone on to IPO and have made some impressive returns.
This includes Tamadoge (TAMA), which increased by as much as 1,800% (relative to the pre-sale price) in October, when it was listed on the major exchange OKX. It also includes Lucky Block (LBLOCK), which rose as high as 6,000% compared to its sale price of $0.00015.
While both of these coins have obviously completed their respective presales, the three tokens below are still holding sales right now, with listings coming very soon.
Dash 2 Trade (D2T)
Dash 2 Trade is an Ethereum-based trading intelligence platform that provides investors with real-time analytics and social trading data, allowing them to make more informed trading decisions. It will go live in early 2023, with the D2T token used to pay for the monthly subscription fees to the platform (there are two subscription levels).
Now in its fourth and final phase, Dash 2 Trade’s pre-sale has already raised more than $9 million. It has also announced listings on Uniswap, BitMart and LBANK Exchange for early next year, meaning early investors will soon be able to lock in some profits.
Visit Dash 2 Shop Now
RobotEra (TARO)
Also using Ethereum, RobotEra (TARO) is a Sandbox-style Metaverse that will allow players to play as robots and participate in the creation of its virtual world. This includes NFT-based land, buildings and other objects in the game, and the game also plans to allow players to connect to other metaverses and create an interoperable multiverse.
1 TARO is currently sold for 0.020 USDT (it can be purchased with either USDT or ETH), although this price will rise to $0.025 in the second phase of the presale.
Visit RobotEra now
IMPT (IMPT)
IMPT is a carbon credit marketplace that will reward consumers for shopping with environmentally friendly sellers. When it launches next year, it will issue carbon offsets as NFTs on the Ethereum blockchain, with users able to purchase such NFT-based offsets using the IMPT tokens they receive as rewards for trading using the platform.
Since the opening of the sale in October, IMPT has raised more than $16.7 million, with 1 IMPT currently being sold at a price of $0.023. The sale is due to end in just over two days, with listings on Uniswap, LBANK Exchange and Changelly Pro to follow shortly thereafter.
Visit IMPT now
