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.

Comparing #ADA bear markets

Blue Line (Jan 2018 – Mar 2020)
Orange Line ( Sep 2021-Present)

So far, we are seeing diminishing losses as a function of time.

The orange line will reach the length of the blue line on Nov. 13th, 2023. pic.twitter.com/XXKKSjiEmF

— Benjamin Cowen (@intocryptoverse) June 26, 2023

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.