Here’s Why Investors Prefer Cardano (ADA) This Bear Market
The post Here’s Why Investors Prefer Cardano (ADA) This Bear Market appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide
The Cardano blockchain has five million NFTS having been minted on its network. The platform has recently celebrated its 5,126,018 number of native asset tokens recorded on the network, and pm data with 54,897 distinct minting policies.
The increase in these minted NFTs and projects directly promotes the growth of the Cardano network. Whereas the number of projects on Cardano has already exceeded the 1,000 mark, similarly the NFT projects were at the rate of 5,796, according to the report of IOHK. Along with these growth factors, the sixth-largest cryptocurrency ADA is currently trading at $0.6344.
In a survey conducted recently by @LondonRealTV, the Cardano founder Charles Hoskinson has commented on the survey with the Twitter account of the same name media company. In response to his tweet, almost 80% of respondents have voted for Cardano’s native token ADA.
Yes to ADA, In Bear Market
The crypto investors were asked to choose between the two largest coins Bitcoin and Ethereum along with Cardano’s ADA and some other crypto were given as a choice to the crypto community. Among 8861 participants of the poll, a total of 76.9% of voters have taken up ADA in response to the survey, whereas the 11% and 5% went with Bitcoin and Ethereum respectively.
#Cardano saw 39 whale transactions worth $1m+ between 2pm and 3pm UTC Friday. Since this hour, $ADA's price has risen +32%. Whales continue to show value in foreshadowing price direction shifts. The asset is also seeing a 17-day high in discussion rate. https://t.co/MLJ4oBtobn pic.twitter.com/3qes7ytsOw
— Santiment (@santimentfeed) June 7, 2022
In addition to this the on-chain data provider, Santiment has recorded the ADA’s immersive price hike, where the whale transactions have suddenly skyrocketed. Almost around 39 transfers carried over $1 million worth of Cardano between the time frame of 2 p.m and 3 p.m.
Further, On June 3, Santiment got the notice to soak in price by 32% by then the coin had reached a 17-day peak in discussion rate. Tweets Following this say that whales are accumulating ADA on dip given the price hike.
At the same time, it has been noticed that the Cardano whales have been moving large amounts of ADA right before the significant hike in coin’s price. During this bear market situation, the ADA is being one of the most preferable choices for Investors.
