The Cardano price has fallen nearly 75% from its all-time high of $3.10 and currently trading at $0.85 per coin. However, $0.85 remains a vital resistance point. Because if investors can stay above that price level, they’ll see their investment rise towards testing another crucial milestone of $0.9.\u00a0<\/span><\/p>\nAlthough, Cardano is still a long way from returning to its former price of $1. As investor sentiment remains negative and the current market favors sellers.<\/p>\n
Featured image from Pixabay, chart from Tradingview.com<\/pre>\n","protected":false},"excerpt":{"rendered":"With a market valuation of $28.68 billion, Cardano (ADA) has claimed the 9th position in cryptocurrency market capitalization, surpassing Avalanche (AVAX). Despite recent inflows into its ecosystem, the coin beat Avalanche’s $22.28 billion to attain the title of 9th largest coin. As the value of Cardano’s ecosystem has skyrocketed, so too have funds flowing into it. From roughly $1.7 million in mid-January to a present-day total value locked (TVL) up at just under $315 million – or a 18420% increase. The Cardano team has entered the third phase of its construction, a process known as Basho, the Cardano’s next era after Alonzo. Cardano plans to release Hydra, a collection of Layer 2 solutions, as part of this phase. In this stage, Basho will update Cardano’s security and scalability. Related Reading | Cardano Based Project Bashoswap Introduces Launchpad and DEX The first Hydra Heads have opened on the public Cardano testnet, and it is an exciting moment for this scaling journey. As a result, the protocol can be vital in ensuring that there are no problems along the way towards becoming a fully decentralized network. Cardano Price Action And Ecosystem Inflows The Cardano ecosystem is booming with new funds, attracting nearly $150 million in March alone. With the surge of total value locked at over $314.87 million from roughly $168.95 million, big things are expected for this crypto project. Cardano’s TVL has increased by more than 80% in just two weeks. And It is currently worth $225.9 million without including staked governance assets. The increase was noted on February 28th through March 16th, when the number rose from $150 million to $314.87 million. The Cardano Minswap has seen a surge in total value locked (TVL) over the last week, with 121% more locked up than before. Cardano Minswap became the most significant protocol by flipping the SundaeSwap. The majority of funds on this network now reside at its Minswap decentralized platform–with $115 million currently locked.\u00a0 Even as Cardano (ADA) continues to progress, the price has failed to catch up. The coin has been on a downward journey after reaching its ATH at $3.10 in September 2021. Related Reading | TA: Bitcoin Holds Uptrend Support, What Could Trigger Sharp Decline The Cardano price has fallen nearly 75% from its all-time high of $3.10 and currently trading at $0.85 per coin. However, $0.85 remains a vital resistance point. Because if investors can stay above that price level, they’ll see their investment rise towards testing another crucial milestone of $0.9.\u00a0 Although, Cardano is still a long way from returning to its former price of $1. As investor sentiment remains negative and the current market favors sellers. Featured image from Pixabay, chart from Tradingview.com<\/p>\n","protected":false},"author":555,"featured_media":486382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,12332,85697,1558,12837,83626],"class_list":["post-486379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-cardano","tag-crypto-market-capital","tag-cryptocurrency","tag-sol","tag-solana"],"acf":[],"yoast_head":"\n
Cardano (ADA) Attains 9th Position in Market Valuation During Ecosystem Inflows<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n