Cardano (ADA) Reaches a Critical Juncture
Technologie Cardano (ADA) erreicht einen kritischen Punkt 2 mins ago Bitcoin Ethereum Nachrichten Nur 24% von Cardano (ADA) holders are making money at the current prices. But on-chain data shows that ADA price is approaching the 200-day simple moving average for the first time in nearly a year. So can the Cardano bulls flip the bears in the coming days? Cardano suffers 5% Correction Amid Decline in Transaction Volumes The impressive 64% gain for Cardano at the start of the year has been cut by 5% in the last seven days. The marginal downward trend appears to be due to the declining daily transaction volumes and Bitcoin Korrektur. Cardano Transaction Count Feb 1 to Feb 8. Source: IntoTheBlock IntoTheBlock technische Daten shows that the number of daily transactions on the Cardano network has declined in unison with the price of ADA. Since the start of Feb. transaction count has fallen by 28%. Historically, a fall in the frequency of transactions on the Cardano network has correlated with periods of ADA price downtrend. Can ADA Pull out of the Bearish Bitcoin Snare? Another critical factor contributing to the recent ADA price correction is its 96% correlation to BTC prices. Cardano (ADA) and Bitcoin Correlation. Feb. 2023. Source: Santiment The correlation between ADA and