ADA Price Ready To Soar As Cardano Network Hits New 88.6 Million Transaction Milestone

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,989,810,149	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,989,810,149

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000252	-0.20%	0.124719	0.124708	0.12472

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000252

-0.20%

0.124719

0.124708

0.12472

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.125022	0.124018	0.124971	0.124971	0.064588 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.125022

0.124018

0.124971

0.064588 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	14:30:28	132.76	0.124719	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

14:30:28

132.76

0.124719

USD

Price x Volume	Volume	Base Symbol	Related Pairs
102,774.00	825,911.40	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

102,774.00

825,911.40

ADA Price Ready To Soar As Cardano Network Hits New 88.6 Million Transaction Milestone

06/04/2024 4:00pm

NEWSBTC

The Cardano (ADA) price looks set for a significant move to the upside. The network recently hit a new milestone in terms of transactions processed so far, in addition to other bullish fundamentals that could also contribute to the price surge. Cardano Has Processed Over 88 Million Transactions Data from Cardano’s latest weekly development report shows that the network has processed 88.6 million transactions to date. This is significant as sustained network activity can positively affect ADA’s price. Moreover, ADA has always been criticized as a “ghost chain,” this achievement dispels that notion and proves that people are actively using the network. Related Reading: XRP To $20 And Ethereum To $20,000: Crypto Analyst Reveals When This Will Happen Source: Essential Cardano Meanwhile, the report revealed that 1,353 projects are actively building on the network, which means the network will keep expanding as more users get onboarded through those projects. Additionally, Cardano’s Fund12 officially launches on April 26, with this decentralized and innovative incubator program set to usher in a new set of developers into the Cardano ecosystem. That event also underlines Cardano’s potential to experience exponential network growth soon enough. It is also a testament to Cardano founder Charles Hoskison’s statement that the network is growing organically like Bitcoin, seeing as the team has continued to put in the work rather than solely depending on hype. Considering these bullish developments, ADA’s price could be well primed for a significant move to the upside. This will provide a much-needed relief for ADA holders who have continued to worry about the crypto token’s lagging price action. ADA’s price had remained pretty tepid despite the broader crypto market recording massive price gains. ADA Price Chart Says Otherwise From a technical analysis perspective, the Cardano ecosystem is currently bearish. Technical analyst Alan Santana recently mentioned that further price declines are more feasible as ADA’s price has continued to lag. He revealed that ADA’s weekly chart is producing a “break below the EMA10 (Exponential Moving Average) with a very strong bearish candle as the RSI (Relative Strength Index) turns red. “ Related Reading: Dogecoin Finds A Bottom: How The 7-Year Cycle Can Send Price To $40 Santana also suggested that ADA’s price could drop to as low as $0.34 in a bid to establish support. Therefore, he stated that the “only wise decision is to remain bearish until the chart and market conditions change.” “Once support is found and established, we become bullish again,” the analyst added. At the time of writing, ADA is trading at around $0.58, up in the last 24 hours according to data from CoinMarketCap. ADA sees sharp drop to $0.58 | Source: ADAUSDT on Tradingview.com Featured image from Biztech Africa, chart from Tradingview.com

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