The latest update: The date is April 23, 2024 at 19:21 EDT | Read 3 minutes
ADA Last trading was just over $0.50. This is down almost 3% for the day. The sell-off pressure increased after ADA was unable to move above its 21DMA at $0.52s.
As per CoinGeckoADA was valued at around $17,8 billion in the last few years. This makes it the 11th biggest cryptocurrency by market capital, after Dogecoin and Toncoin.
These two cryptos are valued at $23.2 and $19.8 billion, respectively.
Despite Tuesday’s decline, ADA It is up by 25% over recent lows. Crypto is down more than 20% monthly, and over 15% annually.
Cardano is lagging behind the other cryptos, and has been for some time.
Cardano’s price has dropped 15% over the last 90 days. Bitcoin BTC is now up by 57%. Ether (ETH), BNB BNB (B&B) Solana The (SOL) is up 40-100% in the same period.
Cardano’s struggles to gain real-world adoption is likely the cause of all this.
Should investors sell all of their crypto assets and move to another cryptocurrency?
Cardano price prediction – is it over for ADA now?
Cardano’s on-chain metrics show that it is struggling to build a base of real crypto users.
Only $416 Million in value is locked into the blockchain (TVL), as per DeFi Llama.
This is a far cry from the tens of thousands Solana Blockchain: $10 Billion Locked on SolanaOne of the major competitors is.
Cardano is ranked 24th in TVL despite being the 11th biggest crypto according to market capital.
Comparing daily transactions also paints a grim picture.
According to Messari dataCardano is rarely over 100,000 transactions in a single day. Bitcoin, on the other hand has experienced Between 300,000 to 750,000 transactions per day According to Ycharts, the number of people who have been able to access the internet has increased in recent years.
Cardano is a smart-contract-enabled blockchain that is attempting to house a vibrant web3 ecosystem. Solana or Ethereum would be a better choice to compare with.
Cardano is even worse. Ethereum is usually averaging over 1,000,000 daily transactions. Ycharts. Solana sees between 15-30 millions.
No wonder Cardano is still referred to as “a ghost chain” by its critics.
Cardanzos uses the same repetitive and useless slogan: DYOR
You did.
50K active users daily max
4 Wallets
360M TVL
There were 88M transactions
USDM 200M liquidity
This is RIDICULOUS
Change my mind by telling me something that I do not know. Cardano has ghost chains.
— Hossa 182 (@182Hossa) 18 April 2024
Cardano will continue to struggle to compete with major competitors as long as the narrative that it is not attracting adoption continues.
Bitcoin is on track to reach $100,000 in 2018, despite a slower growth of supply after the halving, and continuing ETF demand.
The ADA/BTC rate may soon return to the lows of late 2019/202, around 0.000004.
It doesn’t mean that the ADA will keep falling in USD. It may not be able to rise above $1 if adoption is slow.
It is true that the blockchain contains dozens of projects with ambitious goals, all competing to gain users. Cardano could see its fortunes change if any of these ambitious projects were to gain traction.
1/6 – It’s confirmed. Cardano has ghost chains
Exchange
– @MinswapDEX
– @DexHunterIO
– @axotrade
– @spectrumxnet
– @VyFiOfficial
– @wingriderscom
– @SundaeSwap
– @MuesliSwapTeam
– @TeddySwap
– @CswapDEX
– @OmuraFinance
– @blueshiftfi
DeFi
– @LinkageFinance
-… pic.twitter.com/LQKbHEUfmm
CardanoThor 18 January 2024
ADA Alternative to Consider – Mega Dice Casino (DICE)
Investors in crypto who are looking to invest with higher upside potential may want to consider investing at the presale stage.
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The well-established cryptocurrency casino DICE has started a pre-sale for its utility token.
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The DICE offers a large cashback on all bets, and also allows players to generate passive income through DICE betting.
Crypto casino also runs a number of airdrops that reward investors who invested in the presale early.
Already, the project has raised close to $500,000. Investors should act quickly as the price of DICE will increase when it reaches the $1,000,000 milestone.
Check Out Mega Dice Casino’s Presale
Cryptocurrency is an asset class with high risk. The information in this article does not represent investment advice. Your capital could be lost.