Market

More than 12 initiatives based on Dozen Cardano will be launched in the first quarter of 2022 and create a good basis for the ADA price

Today, IOHK CEO Charles Hoskinson mention There are more than 175 projects under construction on Cardano ADA and more than 12 projects will start by the end of the first quarter of 2022. Accordingly, ADA price could rally significantly amid increasingly stronger fundamentals.

In order to counteract the misinformation that is circulating on Reddit, the Cardano founder has published a picture in addition to a recently published tweet in which the developments in the network are explained. Currently, Cardano has 178 projects created on its website from January 1st to date, of which 13 started this quarter and 3 are scheduled to start in the fourth quarter. In 2022, 11 projects are prepared for the start in the first quarter of next year.

Source: Twitter

The goal of the Cardano inventor was to regulate the DeFi sector and at the same time to point out the pitfalls of decentralized financing in a YouTube livestream. Hoskinson says Cardano should be able to overcome these pitfalls by creating a set of specific standards for DeFi to weed out shoddy apps.

“Ouroroboros’ consensus protocols will ensure Cardano lasts longer.”

2021 was a notable year in terms of partnerships with the Cardano Foundation, which launched 13 notable partnerships including the NGO Eco-Age and Save the Children.

ADA price promotion

ADA has been bullish since mid-December, hitting a high of $ 1,594 in the previous session. The prices continued to rise and traded in the green for 6 consecutive days. After that, however, there could be a period of consolidation and a slight decline. However, ADA is likely to continue its upward trend in the following sessions.

ADA / USD Chart | The source: TradingView

At the time of writing, ADA is trading at $ 1.51 and could be prepared for an explosive rally above the moving average (50MA) towards the nearest resistance at $ 1.8. Breakout will break the barrier of the descending trendline above the psychological $ 1.50. The price continued its 7-day uptrend over the past 24 hours above 15%, hitting the current daily low at $ 1,432.

On the daily chart, the Relative Strength Index (RSI) is rising above the mid 50 line in positive territory, showing that the bulls are still in control and another uptrend is likely. ADA currently has a market capitalization of $ 48 billion and is currently number 6. There are also 32 billion ADA coins in circulation, with a maximum supply of 45 billion coins.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

22 minutes ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

2 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

3 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

3 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

4 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

5 hours ago

This website uses cookies.