Cardano continues to dominate the headlines right now, due to the subsequent updates of its blockchain and the activity of its developers on social networks. However, can its native token, the ADA, become the big winner in the crypto ecosystem?
ADA price analysis
While the cryptocurrency market has shown relatively strong growth for 24 hours, the past few months have been particularly tough for the industry and the ADA has not escaped a significant drop. At the time of this writing, ADA is now a $ 0.4075 after initially rising to $ 0.36 the previous day.
The ADA thus benefited from an increase 11.95% on the one day of Tuesday 25 October, this in echo with the rest of the cryptocurrency market which also benefited from a similar increase.
The reason for this increase could be related to a shift in perspective on crypto ecosystem regulations by institutions such as the SEC in the US or the House of Commons in the UK. According to Bloomberg, in fact, these measures would have the effect of motivating the main market players to invest in the sector.
Buy ADA on eToro
A potential listing on FTX
One of the more bullish signals for ADA comes from rumors of a potential listing on the hugely popular FTX exchange.
Earlier this week, FTX chief executive Sam Bankman-Fried posted on social media that his platform could host ADA in its selection of available cryptocurrencies. As the billionaire explained, FTX International has already listed the perpetual ADA contract and may add the ADA commercial in the future.
If that happens, it would be a real event for ADA that would likely see its price skyrocket when the news gets out.
On-chain data shows significant underestimation
According to data from Santiment, ADA is almost at its lowest point compared to its 2019 realized value. The indicator measures the valuation of a crypto asset based on traders’ losses and the last time the indicator sounded a similar notice the price of ADA doubled in less than three months.
At the moment it is too early to say whether the recent hike will continue in the coming days, it could really be a bull trap, so seasoned investors should act with some caution.
If you are looking for a great ROI, D2T could be a solid option.
As investors continue to watch ADA, it is important to keep in mind that other cryptocurrency projects could provide huge gains. One of these options is D2T, which is the platform’s native token Dash 2 Commerce.
Launched in 2022, Dash 2 Trade aims to provide cryptocurrency investors with a range of analytical tools to assist them in their trading activity. Dash 2 Trade’s goal is to become the equivalent of the Bloomberg terminal but for the cryptocurrency industry, offering for example notifications on asset lists and presales.
With the cryptocurrency market likely to go green for an extended period of time, the possibility of investors entering the market en masse is growing stronger. If so, those who take advantage of the best analytics tools will be more likely to get better results.
This is not the first project of the team leading this project, as they are also responsible for Learn 2 Trade which already has a community of over 70,000 members. This provides a solid adoption foundation for D2T.
If you want to participate in the Dash 2 Trade presale, feel free to click this link.