The crypto world has been longing to witness a major thrust to the burdening pace of digital assets in the market. Numerous digital coins have been crawling along with a narrow range, while the assets remain chained by the bears. Wherefore, enthusiasts in the industry are fervently tarrying for bulls to barge in and help the digital assets vanquish the bears.

Successively, digital assets such as Cardano and XRP have been engulfed in the cordon of bears. Enthusiasts from the community have been looking for digital assets to break through the barriers. However, the condition with Cardano seems to be improving as the network hits a new milestone. In contrast, the network’s used cases emerge from the shadows.

Is Cardano Emerging From Its Shadows? 

Cardano network hits a new milestone of 20 million transactions, without a single outage in the network’s four-year history. Numerous De-Fi protocols are in the works such as Aada, MELD, Liqwid, Adalend amongst others. According to some reports, MELD has received $1 Billion worth of ADA in IPSO staking. 

Meanwhile, Cardano-based DEX Sundaeswap announces its testnet launch that is scheduled on the 5th of December 2021. The testnet will enable developers to debug errors if any and would give a wider perspective over the platform’s operations. 

The Cardano network will also be hosting Fracada, an open-source dApp that locks an NFT and mints a number of tokens representing fractions of it.  Sources suggest that there are over 2 million native tokens on the Cardano blockchain. The count has nearly doubled since October. 

Cardano (ADA) Price

 ADA price at press time is trading at $1.59 while registering no gains. The trade volumes for 24-hours are at $1,492,655,651. The market cap of ADA is hovering about $50,555,811,019. The digital asset has been trading in the range from $1.52 to $1.62 since the previous day. The ATH remains far from sight at $3.09

The analyst considers ADA against the BTC pair. He believes ADA to be rhyming its price trajectories from 2020, correcting heavily in the second quarter of the year. The proponent is expecting a flip of support to trigger or test at 2350 SATS.  

Very simple with #Cardano.

We're copy/pasting the structure of 2020 in which it corrects heavily in Q2 of the year.

Assuming that a flip of green would be a trigger or a test at 2350 sats.

— Michaël van de Poppe (@CryptoMichNL) December 1, 2021

Collectively, ADA price has been stagnant for a brief period ever since the Alonzo hard fork upgrade. Netizens are optimistic of ADA price reclaiming its due shares in the poised alt-season. As the network is gradually witnessing an increase in De-Fi and DEX being built on. Which could propel the price to greater highs.

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.