Innovation to the DeFi industry is tradition when the first DeFi ecosystem gets introduced on a blockchain. ADA Finance honors that tradition for the Cardano and Avalanche blockchain. ADA Finance develops on both blockchains, in parallel, to give users the freedom to choose on which network they run the ADAFi Ecosystem.

ADA Finance motivates platform growth and user activity by offering a Referral Program and Address Milestones. The ADAFi ecosystem brings traditional DeFi tools and introduces innovative DeFi features to optimise opportunities for the users.

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ADA Finance

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Cardano (ADA) is trading below yesterday’s <a target="_blank" href="https://coinmarketcap.com/currencies/cardano/">closing price</a> as it exhibits price volatility. This price drop comes despite the fact that its trading volume increased by over 26% in the last 24 hours. 
ADA has now lost its earlier gains in the past week, dropping from $0.4028 on April 29, 2023, to $0.3974 on April 30. Currently, it is trading in the $0.3926 range. Its past price behavior suggests it will likely recover from the bearish trend.
Fortunately, Cardano retains most of its gains in 2023, moving from $0.248 on January 1, 2023, to its current price of $0.3922 at press time.
<h2>ADA Price Analysis</h2>
ADA is experiencing price volatility today, forming a red candle on the daily chart. The Relative Strength Index is at 47.41 and reflects price neutrality as the bulls and bears battle for control. 
Related Reading: <a target="_blank" href="https://www.newsbtc.com/analysis/pepe/pepe-coin-versus-bitcoin-comparison/">Check Out This Shocking Pepe Coin Versus Bitcoin Comparison</a>
Also, ADA’s Moving Average Convergence/Divergence (MACD) is below its signal line and shows a negative value. The MACD indicator hints at a possible price drop ahead for the asset since the bears are still active in the market. 
However, ADA is still above its 50-day and 200-day Simple Moving Averages (SMA), a bullish sentiment for the short and long term. The 50-day SMA has correlated with a support level sustaining ADA for the last three days.
<figure><img src="https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30-860x471.png" alt="Cardano ADA" srcset="https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30-860x471.png 860w, https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30-460x252.png 460w, https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30-768x420.png 768w, https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30-750x411.png 750w, https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30-1140x624.png 1140w, https://www.newsbtc.com/wp-content/uploads/2023/05/ADAUSDT_2023-05-04_17-41-30.png 1529w" /><figcaption>ADA trading sideways on the chart l <a target="_blank" href="https://www.tradingview.com/x/DmDkyGuy/">ADAUSDT on Tradingview.com</a></figcaption></figure>
<h2>Cardano’s Developmental Strides Might Facilitate A Rally</h2>
Cardano’s reputation as a developers’ hub is rising, with an active community backing the project. Cardano in the <a target="_blank" href="https://forum.cardano.org/t/cardano-community-digest-1-may-2023/117516">Community Digest</a> announced the upcoming Cardano summit in 2023. 
The event will hold in Dubai between November 2 and 4, 2023. It will provide networking opportunities in the community and access to top crypto executives that will speak at the event.
Although Cardano is in a bearish phase, its developmental strides will likely boost its price action in the coming days.
Aada Finance <a target="_blank" href="https://twitter.com/AadaFinance/status/1653715010487451648">announced</a> the release of Aada V.2, a pool manager for NFTs. Holders of NFTs can delegate locked ADA to any pool and register a new stake pool. Users can transfer, sell or stake NFTs on DeFi platforms.
<h3>Cardano Active Wallets and Whale Activities Soars</h3>
Also, Cardano’s transaction volume has increased partly due to an increase in the total number of active wallets. The total number of wallets on the network currently stands at <a target="_blank" href="https://twitter.com/WhaleChart/status/1640860237098889220">4 million.</a> Also, Input Output Global (IOG), the developer behind the network, revealed that Cardano’s <a target="_blank" href="https://twitter.com/InputOutputHK/status/1651929236905635840">processed 65.4 million</a> transactions in the past week. 
The increase in transaction volumes correlates with a rise in whale activity on the network. The whales are currently in an <a target="_blank" href="https://twitter.com/cardano_whale/status/1653920101471768576">accumulation phase</a> hinting at growing confidence in ADA’s long-term potential.
Featured image from Pixabay and chart from Tradingview.com
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Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future.
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NewsBTC

Cardano (ADA) Price Plunges As Bears Try To Over

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<li>With Aada’s new Pool Manager NFT, users will be able to delegate the locked ADA to any other pool along with registering the new stake pool.</li>
<li>The Aada Finance V2 seeks to address the two most important factors for a lending platform, decentralization, and liquidity.</li>
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Cardano-based decentralized lending protocol Aada Finance announced that it has now introduced version 2 along with introducing a pool manager NFT.
Thus, with Aada’s new Pool Manager NFT, users will be able to delegate the locked ADA to any other pool along with registering the new stake pool.
In the case of delegating the locked ADA to any pool, the NFT holder will manage where the locked ADA is delegated. As a result, the pool manager NFT holder gets to control only the ‘deposit’ and ‘collateral’ of the specific pool.
In case the pool manager NFT holder registers as a stake pool, the holder can publish any stake certificate including a stake pool registration as well as de-registration.
<blockquote>
🚀 Exciting news for <a target="_blank" href="https://twitter.com/hashtag/Cardano?src=hash&amp;ref_src=twsrc%5Etfw">#Cardano</a> enthusiasts. 
With Aada V.2 we are introducing a Pool Manager NFT where it's holder will be able to: – Delegate locked ADA (supply or collateral) to any pool – Register new stake pool
How do you measure this NFT value?<a target="_blank" href="https://twitter.com/hashtag/CardanoCommunity?src=hash&amp;ref_src=twsrc%5Etfw">#CardanoCommunity</a> <a target="_blank" href="https://twitter.com/hashtag/ADA?src=hash&amp;ref_src=twsrc%5Etfw">#ADA</a> <a target="_blank" href="https://t.co/U6swocDvGA">pic.twitter.com/U6swocDvGA</a>
— Aada (@AadaFinance) <a target="_blank" href="https://twitter.com/AadaFinance/status/1653715010487451648?ref_src=twsrc%5Etfw">May 3, 2023</a></blockquote>
Aada is a decentralized lending and borrowing protocol built atop the Cardano blockchain network and backed by NFTs. Also, the Aada decentralized protocol has multiple use cases such as:
<ul>
<li>Shorting: Aada Finance allows users to borrow non-fungible tokens (NFTs), sell, or repurchase the assets in order to increase their positions.</li>
<li>Leverage: Aada facilitates trustless leverage trading by allowing traders to borrow more capital than they have, while thus increasing their purchasing or selling power.</li>
<li>Farming: Aada provides yield-farming facilities to users, which is one of the widely used risk-management strategies in decentralized finance (DeFi). Aada Finance will allow everyone to maximize their profits by borrowing the desired asset without owning them.</li>
<li>Hedging: Aada Finance also facilitates hedging to counter price volatility in the crypto space.</li>
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<h3>The Benefits of Using Aada</h3>
The new Pool Manager NFT from Aada will allow borrowers and lenders to lock their deposits and loans into NFT bonds such that anyone can redeem it by providing the underlying NFT and fulfilling the loan conditions. This feature will unveil an entirely new financial instrument for users to transfer, sell, or stake on the decentralized finance (DeFi) platform.<div><div><h2>Subscribe to our daily newsletter!</h2></div>          No spam, no lies, only insights. You can unsubscribe at any time. </div>
With the Aada V2, the platform will offer a more user-friendly interface and interaction. Aada Finance notes that the two most important factors for a lending platform are decentralization and liquidity. The Aada Finance V2 seeks to address this dilemma by splitting the app into two separate entities:
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<li>Protocol (smart contracts, liquidity pools, and token holders);</li>
<li>UI (the app.aada.finance website, and the batching mechanism).</li>
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As per <a href="https://medium.com/@aada.finance/aada-finance-v2-further-overview-of-the-fees-and-oracles-1b28c06c60b7" target="_blank">Aada Finance</a>, “the split will enable users to interact with the smart contracts without the need to access the app’s interface. Using this method will be cost-free, and only network fees will apply”.
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