After witnessing a slump, Cardano is back on its feet in the second quarter of 2023. At the time of writing, ADA was trading 13% higher over the last seven days.
ADA bulls maintain strong momentum but short-term outlook may lend favor to the bears.ADA was one of the worst performing top cryptocurrencies? It was heavily favored by the bears and short sellers. Well, the script has changed and it is now one of the most promising top coins.was perhaps one of the best indicators that the network was headed in the right direction. The TVL has been growing aggressively since the start of 2023 to its current level at around $156.62 million.
A $107 million recovery compared to its lowest level in the last four months. This was also Cardano’s largest TVL bounce back since its decline commenced in March 2022.Such growth denoted the return of confidence into the Cardano ecosystem. This observation was important for investors because it will likely encourage more people to hold ADA especially for the long-term. Well, ADA’s latest price action revealed that there was already a strong bullish bias for ADA based on its YTD performance.
ADA’s mean coin age and MVRV ratio were also at their highest levels in the last four weeks. A confirmation that many ADA holders bought at lower prices and were in profit at press time.Although it is worth noting that the mean coin age dropped slightly since 5 April. This indicated that a sizable amount of ADA recently changed hands.
ADA’s supply distribution also offered a clearer picture of why the age consumed metric was down slightly. Addresses holding over 1 million ADA slashed their balances by a noteworthy margin on 5 April.The other whale addresses have slowed down their accumulation since then but the price continued rallying. This might be due to incoming retail demand. Although ADA’s robust performance might be disrupted by short-term sell pressure, ADA and Cardano prospects remain favorable.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Avalanche’s TVL puts up a challenge as AVAX puts its best foot forwardAvalanche observes institutional interest in its protocol as new partnerships emerge, but will that be enough to improve its declining TVL?
اقرأ أكثر »
Cardano rolls out new Lace Wallet- Will it provide a major boost to ADACardano creator Input Output Global (IOG) announced the launch of Lace Wallet, the first native wallet in the Cardano ecosystem, giving users direct access to Cardano network and the various dApps built on it.
اقرأ أكثر »
![Cardano [ADA] retests Q1 price ceiling- Will bulls go forth?](https://i.headtopics.com/images/2023/4/13/cryptoamb/cardano-ada-retests-q1-price-ceiling-will-bulls-go-cardano-ada-retests-q1-price-ceiling-will-bulls-go-1646567175161774084.webp?w=640)
Cardano [ADA] retests Q1 price ceiling- Will bulls go forth?Cardano [ADA] hit the price ceiling at $0.4056, which may attract short-sellers. But near-term bulls aren’t exiting their positions just yet, thus pointing to likely consolidation in the short term.
اقرأ أكثر »
Trump lawyer seeks month-long delay in trial over rape claimColumnist claims that Donald Trump raped her in a department store dressing room in the 1990s
اقرأ أكثر »
Trump lawyer seeks month-long delay in trial over rape claimAn attorney for Donald Trump is seeking a one\u002Dmonth delay in the trial regarding a columnist\u0027s claims that Trump raped her in a department store dressing room in the 1990s
اقرأ أكثر »
Nearly 100 luxury cars stolen in Ottawa each monthCTV’s Peter Sperling speaks to an Ottawa family who had multiple vehicles stolen months apart.
اقرأ أكثر »