Some of the most popular cryptos are being harshly affected by the latest bear market showing pretty big price drops in the last seven days. Cardano (ADA) is certainly no exception. In this article, we will explain the reasons why the value of ADA dropped and how it can go from here.
We will mention two of the most popular tokens at the moment, RIA, D2T, IMPT and TAMA, since they are good alternatives that are showing great results, so let's get to it!
The history of Cardano
Cardano is a blockchain that was founded in 2015 and launched with an initial coin offering (ICO) worth $62.2m dollars. It's one of only a few blockchains to use proof-of-stake consensus, which means it can be faster than other coins because there are no miners needed - only validators who stake the tokens in return for the opportunity of earning transaction fees.
The Cardano project is working hard to ensure that its blockchain technology will be durable and stable. They are doing this by developing it through peer-reviewed research, which helps anticipate potential pitfalls in advance so they can potentially avoid them altogether or fix any issues quicker when something does go wrong later on down the line.
The position of ADA at the moment
The Cardano (ADA) is down 9.5% over the last week, trading at $0.3942 by press time, and it's now ranked the 8th largest cryptocurrency with a market cap at around $13 billion according to CoinGecko data. The Cardano blockchain has gone through a big upgrade with the Vasil hard fork in September, which introduced an optimized code base and reduced transaction times. The new features were supposed to boost its price, but it failed to do so after being down 22% over last month and almost 82% when we look at the period from January up until this point.
The beginning of this price drop started almost a year ago. From that point on, there were some periods when there were occasional price spikes. One occurred in August this year when ADA's price was $0.5603. From that point on, we can notice the downward spiral, which landed at a price we can see now, $0.3935. There has been a price dip of 0.96% in the last 24 hours, which is making investors uneasy about the future of ADA.
With ADA sinking below $0.40 and with no signs yet that it will increase soon, investors are choosing to invest in the currently popular projects that are shining bright on the market - IMPT and TAMA.
The second stage of the $RIA presale is progressing extremely well
Calvaria is a new, revolutionary game that has been generating quite the buzz. The reason for this excitement? Calvaria's creators seem to have thought about everything- and it includes not just gamers but also crypto enthusiasts! Not everyone wants to jump into the crypto market right now, so there are two versions of the games available: one is play-to-earn, which gives the opportunity crypto investors to increase their gains, while there is also the free-to-play version, which is a better option for people who want to take a peak first into this exciting world.
The effort of the people behind Calvaria is obvious, and it is directed towards attracting more people to join the crypto market and feel the excitement that investors around the world are so hooked on. With Mexican mythology as an inspiration for the platform, the design will certainly amaze all the game lovers, who also appreciate the artistic side of it. Calvaria is powered by its native token, $RIA, and it is currently on presale. So far, 64% of the second stage is done, and it shows just how interested people are in this very appealing game. If you wish to invest, make sure to hurry up before the price increases in the following stage!
D2T is about to hit a $6 million milestone
Dash 2 Trade is a platform that can serve investors to save time and maximize gains. All the information regarding novelties in crypto, but also tools for on-chain analysis, are available with just one click. One feature that can be found on the Dash 2 Trade platform is social statistics that can track the discussions about tokens which can be extremely helpful when you are in doubt. In addition, there is an option to see coins that are on presale, which will give you the edge and help you get ahead of the competition.
All of these features are the reason why the presale of its native coin, D2T, is going so well. Even though it started recently, the presale of D2T is already in the second stage, and we can soon expect it to hit a six-million-dollar milestone which is an incredible success showing its enormous potential! The price for a token at the moment is 0.05 USDT, and since it will increase to 0.0513 USDT in the following stage, all the investors are in a rush to get as many tokens as possible before the price increases. If you wish to invest, make sure to waste no time so you can get a chance to explore this interesting and useful platform!
IMPT presale attracts investors worldwide
IMPT platform is an innovative project focused on achieving the goal of making the world more sustainable, showing that a noble cause can be behind a blockchain project. IMPT platform connects individuals and businesses with like-minded people who want to reduce their carbon footprint. This can be done by buying, selling, or retiring carbon credits, which also means that the chance of fraud and double counting is avoided.
There is currently an ongoing presale that will evolve throughout stages. There will be three stages in total, and during the first one, the investors will be able to get 1IMPT at the price of $0.018. During the second stage, the price of IMPT tokens will be $0.0230. The third and final stage will mean that the price of IMPTtoken will be $0.0280. Even though the presale started on October 3rd, $11,2 million is already raised, and it shows how potent this project is. If you wish to join the investors who already ensured their portion of IMPT tokens, you can easily do that but keep in mind that the next phase will bring a price increase, so time is of the essence!
TAMA's popularity is on the rise
TAMA is a play-to-earn token that was created to help facilitate the Tamadoge ecosystem. It's based on Ethereum, which means it has one of this year's best eco-friendly cryptocurrencies status! The presale for Tama started off successful when it raised $19 million dollars in less than two months, and its popularity just kept increasing when TAMA got listed on the OKX exchange. Investors who are not able to assess OKX for some reason can easily buy their TAMA tokens by visiting OKX DEX. This listing was followed by the listings on LBank and MEXC, which resulted in a price increase that surely made the investors happy.
There are many things to be thrilled about when it comes to the roadmap of Tamadoge. There is an ongoing ultra-rare auction of 100 NFTs. Once this auction is over, the investors will be able to enjoy the collection of 21,100 NFTs. However, that is not all. We can expect that Tamadoge Arcade will become available soon, which will expand the opportunities for exploring this Tamadoge platform even more. It seems that the Tamadoge team is quite busy working hard to form partnerships and build Tamadoge native metaverse, which will be an opportunity for the players to explore all the features that this interesting platform has to offer. If you want to become a part of the TAMA hype, you better buy your TAMA tokens before the price spikes again!
There have been lots of things going on in the crypto market in the previous week that are significantly changing the interests of investors. The changes are happening for a good reason - the most beloved coins are experiencing price dips, and it is certainly altering the choices investors make. With ADA's price drop, the investors are turning to RIA, D2T IMPT, and TAMA because of the enormous success they have achieved so far and the potential to provide 30x gains by the end of the year. If you wish to invest, make sure you hurry up before the prices change again!
This article is sponsored by FINIXIO
This is a sponsored post. The opinions expressed in this article are those of the author and do not necessarily reflect the views of FXStreet. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
Follow us on Telegram
Stay updated of all the news
Binance CEO calls CFTC suit “disappointing” as district court halts Voyager $1 billion sale to Binance.US
Voyager’s deal with Binance’s United States entity, Binance.US, faced another hurdle on March 27, the same day that the Commodity Futures Trading Commission (CFTC) went after the crypto exchange. This is the second time in the span of a month that Voyager’s deal has been objected against by the government.
90% of Ethereum supply leaves exchanges as regulators struggle to classify ETH as Security or Commodity
Ethereum is known not only as the second-biggest cryptocurrency but also as the second-generation cryptocurrency. The blockchain not only brought Decentralized Finance (DeFi) to the crypto space but also framed a target on its back following its Proof of Stake transition plan.
This is how EOS holders responded to the network's EVM testnet launch, what to expect this week
The first milestone on the EOS Network Foundation’s roadmap, the completion of the EOS EVM (Ethereum Virtual Machine) code, was achieved on March 22, starting the countdown to the launch of the EOS testnet. Well, it is finally here and the community is elated as it brings them closer to the mainnet release on April 14.
XRP price recovers above $0.44 as court ruling approaches, will Ripple win against the SEC?
XRP price has kept its momentum, flashing green on the one-day timeframe as the countdown to the Ripple vs SEC lawsuit continues. The remittance token is moving in tandem with our prediction last week, soaring by a significant margin to secure a place among the best-performing cryptocurrencies on a one-week timeframe.
Bitcoin: Should you trust this BTC sell signal or wait for $34,000?
Bitcoin price shows a clear picture of its rally after it breached a long-term bullish pattern in mid-January. As the rally takes a breather, sell signs have started to emerge, which is putting investors in a confused state.