Key Points: Cardano has seen more than $1.5 billion invested in it in the last 24 hour, bringing the ADA cap at $11.74 billion per day.
The price of ADA has seen a significant increase in purchasing pressure. The coin is currently trading at $0.32, a gain more than 14% in less than 24 hours.
The asset’s price has risen by more than 28% in the past week. At press time, $0.32 was traded. This is a more than 14% gain in just 24 hours. The asset’s value has risen more than 28% over the past week. This resistance level at $0.30 may be a support level for ADA as it moves towards the critical $0.50 mark. The asset will be further uncertain if investors take profits. It is important to note that historically, ADA has followed the overall market trend. Therefore, the asset will face further uncertainty. The platform is witnessing a steady rise in smart contracts. For example, the number of Plutus smart contracts as of January 8 is 4,803, a rise of 780 smart contracts in December alone.Simultaneously, Cardano token has seen a spike in whales, with high-net-worth investors banking on the token’s upside potential. As the new year begins, more activity will likely fuel ADA’s upward momentum. According to reports, the network anticipates the release of two stablecoins during the first quarter 2023. Members of the community also look forward to Hydra, a highly anticipated Layer 2 scalability solution that will boost transaction speeds while maintaining low gas prices. Despite the fact that ADA’s price is rising, the forecasts of a bearish momentum for the token are still more bullish. PricePredictions’ machine-learning algorithm predicts that the token would trade at $0.275 by the end this month. We encourage you to do your own research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comChubbiCoincu NewsTags: ADAADA PriceCardanocryptomarketpricewhales