Although it is still 37% below its trading level a year ago, its price has risen 5% over the past month.
Cardano, according to analysts, would have a long bullish trend.
Cardano, according to analysts, would have a long bullish trend. It is still 37% below its trading level a year ago, despite rising 5% over the last month.
In fact, according to analysts, ADA is expected to see a short-term correction before taking off on the planned Bull Run.
“This correction is considered an opportunity for investors to purchase ADA at a discounted price, which could drive up the price,” they warned.
The basis of the bullish prediction lies in Cardano’s past performance, particularly its notable rally in late 2020, during which ADA price skyrocketed more than 17,000%.
Minswap is the largest decentralized exchange on the Cardano blockchain and has seen a resurgence in activity, with key metrics approaching all-time highs.
Minswap saw an 89.85% increase in unique active wallets (UAW) and a 63.05% increase in the transaction count over the past week.
Source: Ambito
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