Cardano (ADA) Long-Term Investors’ Impact on Price Momentum
The recent stagnation of Cardano (ADA) price within the $0.25 – $0.27 range has raised questions about its recovery from the crypto market crash. However, on-chain data suggests that the resilience of Cardano’s long-term investors could play a crucial role in ADA’s price momentum in the coming weeks.
- Cardano community faces regulatory challenges but remains committed to decentralization and compliance.
- Long-term holders of ADA coins have increased significantly, indicating their confidence.
- The recent victory of XRP being labeled “not a security” has positively affected Cardano investors.
- Despite underwhelming price performance, Cardano network activity continues to grow.
- The increase in Total Value Locked (TVL) in Cardano DeFi ecosystem contributes to transaction volume growth.
Hot Take: The accumulation of ADA coins by long-term investors and the steady growth in network activity may lead to a potential boost in ADA prices in the medium to long term.
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