Cardano Price Prediction as Cardano Adds 20,000 New Staking Addresses to Network – Can ADA 10x From Here?
Cardano price prediction remains bearish under the $0.3285 resistance level, as the 50-day SMA and RSI are driving the bearish trend in ADA. The ADA/USD pair opened at $0.3118 and has since reached a high of $0.3130 and a low of $0.3106, with the pair currently trading at $0.3130. During the last 24 hours, the price has dropped by 0.50%.
Furthermore, the ADA/USD pair fell by more than 2% in the previous week.
Cardano Surpassed 7.2 Million in Native Assets
The Cardano network has recently seen an increase in activity. On December 10, Adverse News tweeted that the Cardano network had recently reached 7.2 million native assets.
Adverse News also recently tweeted that the Cardano network had completed 66,000 transactions in the previous 24 hours. The two milestones had no effect on the ADA/USD value, as the altcoin's price is currently declining.
ADA on BitMEX and Binance US
Binance.US, the Binance exchange's American subsidiary, tweeted on December 9 that users could now trade Cardano (ADA) against USD Coin (USDC). Users on Binance.US can now exchange ADA for USDC and other currencies.
Additionally, the exchange lists Cardano's rival Solana (SOL), which can be exchanged for stablecoin trading pairs. With the announcement, Binance.US emphasized that both cryptocurrencies' goals are "scalability, interoperability, and sustainability."
ADA was also listed on the BitMEX market earlier this week. The new listings influenced the ADA/USD price positively and moderated its decline.
Cardano Launches New Groundbreaking Revolutionary Products
Cardano's decentralized finance (DeFi) ecosystem is rapidly expanding. Optim Finance (OTM), a farming and yield-generating system, is about to become the newest groundbreaking DeFi protocol to launch on the Cardano blockchain.
On its official Twitter account, Optim Finance confirmed that its SPO liquidity bond functionality would be available on the mainnet on December 9. The announcement invited members of the community to join the Mainnet Community call held on Twitter Spaces.
Optim's SPO Liquidity Bonds offering in the Cardano ecosystem will enable unique use cases such as SPO loans, leverage into ISOs, and funding Initial Bond Offerings.
According to Optim, the platform will accomplish this by allowing users to rent ADA delegation rights and allowing stake pool operators (SPOs) to borrow these rights along with their rewards for a set period of time.
It will help to further decentralize the Cardano network by addressing the challenges that new SPOs face in attracting delegators. The news is favorable to the ADA/USD exchange rate.
Cardano’s MuesliSwap Introduces ‘Organic APR
Cardano's decentralized exchange has introduced a new tool to increase liquidity. According to a developer Twitter thread, the "organic APR" function increases token emissions as more liquidity is added to the pool. It was added to a single pool on December 8. It could later be made available in additional pools.
If more liquidity is added to the pool, the new functionality increases token emissions. Users would not be motivated to share information about the exchange, according to the developers, if organic APR did not exist. Cardano users have praised the new function.
One user described it as "a cool idea," while another described it as "ingenious." However, some users have criticized the new function, claiming that it will cause inflation and provide unsustainable rates.
Cardano Price Prediction – Can ADA 10x From Here?
On December 11, the ADA/USD exchange rate opened at $0.3125 and reached a high of $0.3138 and a low of $0.3006. Cardano's immediate support is at $0.2960, and a bearish breakout of this level could expose the coin's price to $0.2620.
Cardano's immediate resistance remains at $0.3320, and a break above this level has the potential to push the price up to $0.3775. The RSI and MACD are diverging, with the RSI in a selling zone and the MACD in a buying zone, indicating market indecision.
To determine the next price action, Cardano must break out of the $0.2960 to $0.3320 trading range.
Despite the bearish price action, the coins listed below are gaining traction and attracting the attention of crypto whales.
IMPT (IMPT) – Only 1 day left in presale
IMPT is a carbon-credit market that rewards customers for doing business with environmentally friendly companies. 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 earn as a reward for shoppers on the platform.
IMPT has raised more than $18.2 million since its initial public offering in October, with 1 IMPT currently trading at $0.023. The sale will end in less than two days, followed by listings on Uniswap, LBANK Exchange, and Changelly Pro.
Visit IMPT Now
Dash 2 Trade (D2T)
Dash 2 Trade is a trading intelligence platform based on Ethereum that provides investors with real-time analytics and social trading data to help them make better trading decisions. It will go live in early 2023, and its D2T token will be used to pay monthly platform subscription fees.
The presale for Dash 2 Trade, which is now in its fourth and final stage, has already raised more than $9.3 million. It has also announced listings on Uniswap, BitMart, and LBANK Exchange for early next year, implying that early investors will soon be able to lock in some profits.