According to a new White House energy report, Cardano is the one of the largest proof of stake blockchains in the world in terms of electricity consumption and market valuation. This report issued by the White House aims to understand the cryptocurrency space’s impact on climate change. It also looked at whether there are any […]
This announcement has been seen as a nod of approval from the White House, and people on social media reacted positively to this update.
Cardano’s social media presence has been increasing gradually for quite some time now, with social engagements up by 20.55% and social mentions up by 29.97% over theHowever, that’s not the only good news for ADA, with its volume growing steadily without much volatility for quite some time. Even though there was a dip in volume recently, trading volume soon climbed from $732.33 million to $763.21million.
Furthermore, the MVRV ratio has also been climbing steadily, with the same being another indicator of a bullish future.Here, it’s worth noting that there has been a sharp decline in developer activity. With the VEven though there have been no signs of any delay in its development and the developers are very$ADA was trading at $0.5147, at press time, with the altcoin noting a 0.55% spike in 24 hours.
price has been trading between the resistance of $0.519 and the support of $0.431 of late. The RSI had a reading of 65.54, with the same being a good indicator that the momentum is with the buyers at the moment. With the altcoin’s price testing the $0.51 resistance, the future seemed very bullish for ADA on the charts.
Finally, the CMF was at 0.08. Now, although this seemed to be a slightly bullish reading, it isn’t a strong enough indicator of a bullish future for ADA.Hence, traders are advised to do more research before getting into any position. As the Vasil hard fork is approaching, which is a highly anticipated event, readers can expect a lot of volatility.to get a better understanding of where ADA is heading.Subscribe to get it daily in your inbox.
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