Cardano (ADA) shows an outstanding performance!
In an ever-changing crypto market, Cardano’s (ADA) resilience is proving exceptional. Benjamin Cowen, CEO of ITC Crypto, highlights the crypto’s performance in the midst of a bear market.
Cardano’s resilient performance (ADA)
In addition to growing adoption in the USA, Cardano (ADA) is displaying exceptional resilience in the current crypto market environment. While many other cryptocurrencies are experiencing significant declines in value, it shows a unique ability to limit its losses and maintain a positive long-term trajectory.
Cardano uses the Ouroboros protocol, supplemented by a proof-of-stake or PoS consensus mechanism. This approach offers enhanced security, improved scalability and superior energy efficiency compared with other blockchains.
It has also developed a robust ecosystem, promoting the adoption of its technology. All of which reinforces its stability and position on the crypto market.
A bear market comparison
Benjamin Cowen uses a comparative chart to illustrate the differences between:
- the January 2018 to March 2020 bear market (blue line) ;
- the ongoing bear market since September 2021 (orange line).
According to him, the orange line shows a trend of decreasing losses over time. This is a testament to Cardano’s (ADA) resilience.
This comparison also suggests that this altcoin is experiencing a slower price decline in the current bear market than in its previous cycle. These results are encouraging insofar as they indicate Cardano’s (ADA) increased ability to maintain its value even in difficult market conditions.
Projections for Cardano (ADA), according to Benjamin Cowen
According to Benjamin Cowen’s observations, the orange line should reach the same length as the blue line by November 13, 2023. Decoding:
- Cardano’s (ADA) price decline could be less severe compared to its previous cycle ;
- This cryptocurrency could recover faster and with sustained growth.
These encouraging prospects reinforce the idea that Cardano (ADA) represents an opportunity. At the time of writing, ADA’s share price stands at $0.278282, with a market capitalization of $12,235,500,000.
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Je m'appelle Ariela et j'ai 31 ans. J'oeuvre dans le domaine de la rédaction web depuis maintenant 7 ans. Je n'ai découvert le trading et la cryptomonnaie que depuis quelques années. Mais c'est un univers qui m'intéresse beaucoup. Et les sujets traités au sein de la plateforme me permettent d'en apprendre davantage. Chanteuse à mes heures perdues, je cultive aussi une grande passion pour la musique et la lecture (et les animaux !)
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.