{"id":610754,"date":"2024-05-31T08:20:55","date_gmt":"2024-05-31T08:20:55","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=610754"},"modified":"2024-07-11T07:16:30","modified_gmt":"2024-07-11T07:16:30","slug":"can-dex-boom-save-cardano-ada-seeks-recovery-as-trading-activity-surges","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/can-dex-boom-save-cardano-ada-seeks-recovery-as-trading-activity-surges\/","title":{"rendered":"Can DEX Boom Save Cardano? ADA Seeks Recovery As Trading Activity Surges"},"content":{"rendered":"<p data-sourcepos=\"7:1-7:296\">The smart contract platform Cardano (ADA) has lately been experiencing a difficult ride. Although DEX volumes have increased in the larger DeFi space, Cardano&#8217;s Total Value Locked (TVL) has dropped, casting questions over the state of its ecosystem.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/political-memecoin-mania-super-trump-token-explodes-with-200-surge\/\" target=\"_blank\" rel=\"noopener \">Political Memecoin Mania: Super Trump Token Explodes With 200% Surge<\/a><\/div>\n<h2 data-sourcepos=\"9:1-9:27\"><strong>DeFi Activity And NFT Market Slump<\/strong><\/h2>\n<p data-sourcepos=\"11:1-11:350\"><span id=\"input-sentence~0\">Data from Artemis, a top blockchain provider, shows that Cardano&#8217;s TVL has seen a notable dip from $430 million to $230 million despite the explosion in DEX volumes over the crypto scene.<\/span><span id=\"input-sentence~1\"> This implies a lack of interest in dApps developed on the Cardano network, therefore compromising its long-term development possibilities.<br \/>\n<\/span><\/p>\n<p><span id=\"input-sentence~1\">Additionally suffering is the NFT space on Cardano. Over the past month, floor pricing and general trading volume in well-known NFT collections have drastically dropped.<\/span><span id=\"input-sentence~2\"> This declining interest in Cardano NFTs could lower investor mood even more and affect the <a href=\"https:\/\/coinmarketcap.com\/currencies\/cardano\/\" rel=\"nofollow\">ADA price.<\/a><br \/>\n<\/span><\/p>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_610759\" aria-describedby=\"caption-attachment-610759\" style=\"width: 907px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-610759 size-full\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_52647d.png?resize=907%2C679\" alt=\"\" width=\"907\" height=\"679\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_52647d.png?w=907 907w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_52647d.png?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_52647d.png?w=768 768w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_52647d.png?w=860 860w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_52647d.png?w=750 750w\" sizes=\"auto, (max-width: 907px) 100vw, 907px\"><figcaption id=\"caption-attachment-610759\" class=\"wp-caption-text\">Source: Artemis<\/figcaption><\/figure>\n<h2 data-sourcepos=\"17:1-17:45\"><strong>Cardano: Technical Indicators Flash Warning Signs<\/strong><\/h2>\n<p data-sourcepos=\"19:1-19:339\"><span id=\"input-sentence~2\"><a href=\"https:\/\/coincodex.com\/crypto\/cardano\/price-prediction\/\" rel=\"nofollow\">ADA&#8217;s technical picture is currently negative<\/a>. Over the previous several weeks, the price has been drifting down, creating several low points and low highs.<\/span><span id=\"input-sentence~3\"> Important technical indicators include the RSI (Relative Strength Index) and CMF (Chaikin Money Flow) also show falling optimistic momentum and money flow into ADA.<br \/>\n<\/span><\/p>\n<figure id=\"attachment_610761\" aria-describedby=\"caption-attachment-610761\" style=\"width: 495px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-610761 size-full\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_552085.png?resize=495%2C179\" alt=\"\" width=\"495\" height=\"179\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_552085.png?w=495 495w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/05\/a_552085.png?w=460 460w\" sizes=\"auto, (max-width: 495px) 100vw, 495px\"><figcaption id=\"caption-attachment-610761\" class=\"wp-caption-text\">ADA sentiment. Source: CoinCodex<\/figcaption><\/figure>\n<p data-sourcepos=\"23:1-23:377\"><span id=\"input-sentence~3\">Beyond the current pricing and DeFi problems, several elements cause questions regarding Cardano&#8217;s future.<\/span><span id=\"input-sentence~4\"> ADA&#8217;s velocity\u2014which shows the frequency of token exchange\u2014has dropped dramatically, implying less trading activity. Furthermore declining is the MVRV ratio, a gauge of profitability for token holders, suggesting that most ADA addresses are underwater right now.<br \/>\n<\/span><\/p>\n<h3 data-sourcepos=\"27:1-27:408\"><strong>Cardano Price Forecast<\/strong><\/h3>\n<p data-sourcepos=\"27:1-27:408\"><span id=\"input-sentence~4\">Even if Cardano is still a major participant in the blockchain scene, the latest developments show its difficulties.<\/span><span id=\"input-sentence~5\"> Declining price, decreasing DeFi and NFT activity, and unfavourable on-chain metrics point to a possible short-term additional downing potential.<br \/>\n<\/span><\/p>\n<figure style=\"width: 2475px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/rFyhrIJN\/\" alt=\"\" width=\"2475\" height=\"1163\"><figcaption class=\"wp-caption-text\">ADA market cap currently at $16 billion. Chart: <a href=\"https:\/\/www.tradingview.com\/chart\/ajrdy9Lf\/\" rel=\"nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p><span id=\"input-sentence~5\">Cardano&#8217;s <a href=\"https:\/\/coincodex.com\/crypto\/cardano\/\" rel=\"nofollow\">price is likely to rise modestly<\/a>; by June 30, 2024, it will be $0.47, a sign of over 5% increase.<\/span><span id=\"input-sentence~6\"> To evaluate the possible movement of the asset, meanwhile, one need take into account several technical indicators as well as market mood.<br \/>\n<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/are-whales-sniffing-out-a-deal-ethereum-holdings-balloon-to-30-details\/\">Are Whales Sniffing Out A Deal? Ethereum Holdings Balloon To 30% \u2013 Details<\/a><\/div>\n<p><span id=\"input-sentence~6\">The negative attitude of the coin could have influence on technical analysis patterns, market trends, or news events.<\/span><span id=\"input-sentence~7\"> Furthermore displaying a Greed level among market players at 73 is the Fear &amp; Greed Index. This suggests that investors could be more prone to take risks or engage in speculative activity, therefore affecting the price movement of Cardano.<br \/>\n<\/span><\/p>\n<p><span id=\"input-sentence~7\">ADA has especially undergone remarkable historical price movements.<\/span><span id=\"input-sentence~8\"> October 1, 2017 saw its lowest price of $0.017, indicating its all-time low; its highest price of $3.10 came on September 2, 2021. These historical pricing points highlight the volatility and opportunities for substantial price adjustments in the Cardano market.<br \/>\n<\/span><\/p>\n<p><em>Featured image from ReddSparks Crypto Blog, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The smart contract platform Cardano (ADA) has lately been experiencing a difficult ride. Although DEX volumes have increased in the larger DeFi space, Cardano&#8217;s Total Value Locked (TVL) has dropped, casting questions over the state of its ecosystem. Related Reading: Political Memecoin Mania: Super Trump Token Explodes With 200% Surge DeFi Activity And NFT Market Slump Data from Artemis, a top blockchain provider, shows that Cardano&#8217;s TVL has seen a notable dip from $430 million to $230 million despite the explosion in DEX volumes over the crypto scene. This implies a lack of interest in dApps developed on the Cardano network, therefore compromising its long-term development possibilities. Additionally suffering is the NFT space on Cardano. Over the past month, floor pricing and general trading volume in well-known NFT collections have drastically dropped. This declining interest in Cardano NFTs could lower investor mood even more and affect the ADA price. &nbsp; Cardano: Technical Indicators Flash Warning Signs ADA&#8217;s technical picture is currently negative. Over the previous several weeks, the price has been drifting down, creating several low points and low highs. Important technical indicators include the RSI (Relative Strength Index) and CMF (Chaikin Money Flow) also show falling optimistic momentum and money flow into ADA. Beyond the current pricing and DeFi problems, several elements cause questions regarding Cardano&#8217;s future. ADA&#8217;s velocity\u2014which shows the frequency of token exchange\u2014has dropped dramatically, implying less trading activity. Furthermore declining is the MVRV ratio, a gauge of profitability for token holders, suggesting that most ADA addresses are underwater right now. Cardano Price Forecast Even if Cardano is still a major participant in the blockchain scene, the latest developments show its difficulties. Declining price, decreasing DeFi and NFT activity, and unfavourable on-chain metrics point to a possible short-term additional downing potential. Cardano&#8217;s price is likely to rise modestly; by June 30, 2024, it will be $0.47, a sign of over 5% increase. To evaluate the possible movement of the asset, meanwhile, one need take into account several technical indicators as well as market mood. Related Reading: Are Whales Sniffing Out A Deal? Ethereum Holdings Balloon To 30% \u2013 Details The negative attitude of the coin could have influence on technical analysis patterns, market trends, or news events. Furthermore displaying a Greed level among market players at 73 is the Fear &amp; Greed Index. This suggests that investors could be more prone to take risks or engage in speculative activity, therefore affecting the price movement of Cardano. ADA has especially undergone remarkable historical price movements. October 1, 2017 saw its lowest price of $0.017, indicating its all-time low; its highest price of $3.10 came on September 2, 2021. These historical pricing points highlight the volatility and opportunities for substantial price adjustments in the Cardano market. Featured image from ReddSparks Crypto Blog, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":610764,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12333,134,12332,6664,84310],"class_list":["post-610754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada","tag-altcoin","tag-cardano","tag-crypto","tag-tvl"],"acf":[],"yoast_head":"\n<title>Cardano: ADA Seeks Recovery As Trading Activity Surges<\/title>\n<meta name=\"description\" content=\"The smart contract platform Cardano (ADA) has lately been experiencing a difficult ride. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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