Coin Bureau on Cardano ($ADA): Theres Still Lots of Demand for ADA

  • Cardano’s demand is surging, despite the coin’s recent lackluster price performance.
  • The number of unique Cardano wallets has increased by more than 50%, while the number of assets on the blockchain has more than doubled.
  • There are “dozens” of decentralized applications (DApps) deployed on Cardano’s network, with hundreds more in development.
  • Cardano is too correlated with the price of Bitcoin, leading to the cryptoasset’s price sinking alongside $BTC.
  • Additional selling pressure is being generated by the FinTech companies associated with Cardano in an effort to expand their development teams and secure more partnerships.
  • Guy predicted that Cardano would be “lucky” to appreciate more than 2X from its current price in the short term due the negative impact of constant selling pressure.
  • However, he said it was a “very different story” for $ADA’s long-term potential and noted the price would depend upon Cardano achieving its upcoming milestones.
gold Cardano coin on red background Coin Bureau on Cardano ($ADA): Theres Still Lots of Demand for ADA
Coin Bureau on Cardano ($ADA): Theres Still Lots of Demand for ADA 2

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