{"id":550737,"date":"2023-09-11T23:00:30","date_gmt":"2023-09-11T23:00:30","guid":{"rendered":"https:\/\/uniquehot.com\/?p=550737"},"modified":"2024-06-11T08:53:48","modified_gmt":"2024-06-11T08:53:48","slug":"ada-price-tanking","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/ada-price-tanking\/","title":{"rendered":"Analysts Are Bullish On ADA But Price Keeps Tanking, What\u2019s Going On?"},"content":{"rendered":"

One coin that analysts seem to still be bullish on is Cardano\u2019s native token ADA. However, despite all of the faith that remains in the digital asset, the price continues to tank and has fallen below multiple important support levels.<\/p>\n

Analyst Goes Deep On Cardano<\/h2>\n

In an interview<\/a> hosted by Altcoin Daily, crypto analyst Hashoshi shares very bullish views on the Cardano network<\/a>. He starts out by explaining that the design decisions being made by the Cardano network have been some of the better ones in the space. Going further, Hashoshi lauds the development rate of protocols on the blockchain as projects continue to build.<\/p>\n

Related Reading: Ethereum Whales Send $486 Million To Coinbase, Time To Exit?<\/a><\/div>\n

\u201cCardano\u2019s done things almost completely different from the start,\u201d the analyst said. \u201cThey\u2019re in a good position right now, despite what people might believe, to make a resurgence if the conditions are correct,\u201d he further added.<\/p>\n

For the price of ADA, the analyst explains that with liquidity coming back into the crypto space, the price of the digital asset could reach above its previous all-time high of $3.10.\u00a0 <\/span>\u201cThe community is still strong\u2026 and I think then you see them outstrip that previous all-time high.\u201d<\/p>\n

Hashoshi is not the only analyst bullish on the price of ADA going forward. Another analyst Kara Szabo has predicted that the price of the digital asset could climb to $5. Szabo also bought<\/a> $20,000 worth of ADA at the start of September, signaling the analyst\u2019s conviction on the altcoin\u2019s bullish performance<\/a> going forward.<\/p>\n

\u201cMy conservative price estimate for the next bull run is $5,\u201d Szabo said on X. \u201cI know some people will think this is low, but this is a 20x from the current price!! For a large market cap alt, this very well may be one of the best plays in crypto at the current price point.\u201d<\/p>\n

\n

Here is my in-depth #Cardano<\/a> $ada<\/a> price prediction for the upcoming bull market. This very well may be the best performing large market cap that investors are sleeping on:<\/p>\n

\u2705 Ada has a max supply of 45,000,000,000 tokens with approximately 35,045,020,830 of those tokens in\u2026 pic.twitter.com\/k4Hs89q1lG<\/a><\/p>\n

\u2014 Kara Szabo (@kararesurrect) September 9, 2023<\/a><\/p><\/blockquote>\n

\"Cardano<\/p>\n

Cardaon's token plunges to $0.24 | Source: ADAUSD on Tradingview.com<\/a><\/pre>\n
But Why Is ADA Price Falling?<\/h2>\n
Despite the bullish sentiment that has enveloped the digital asset, the ADA price has continued to struggle in the market. The reason for this decline can be attributed to a significant amount of ADA being unstaked from smart contracts, causing the total staked ADA to slide downward.<\/p>\n
Data from DeFi<\/a> tracker DeFiLlama shows that the total tokens staked on the Cardano network dropped from above 777 million on September 2 to 733 million on September 11. This meant that over 43 million ADA were unstaked and likely made their way to the open market as these holders sold their stash.<\/p>\n
\"Staked<\/p>\n
Staked tokens nosedive in September | Source: DeFiLlama<\/a><\/pre>\n
Such a large amount being dumped into the market in a period of low liquidity could see the altcoin<\/a> continue to drop, especially if more ADA is unstaked to be sold in the open market.<\/p>\n
Related Reading: Why The Shiba Inu Price Cannot Realistically Get To $0.001<\/a><\/div>\n
However, ADA\u2019s long-term outlook remains bullish as the Cardano network remains one of the networks with the most developments taking place. As developers flock to the network, investors are expected to follow.<\/p>\n
At the time of writing, ADA is struggling at $0.24, down 2.33% in the last day and 5.10% in the last week.<\/p>\n
Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
One coin that analysts seem to still be bullish on is Cardano\u2019s native token ADA. However, despite all of the faith that remains in the digital asset, the price continues to tank and has fallen below multiple important support levels. Analyst Goes Deep On Cardano In an interview hosted by Altcoin Daily, crypto analyst Hashoshi shares very bullish views on the Cardano network. He starts out by explaining that the design decisions being made by the Cardano network have been some of the better ones in the space. Going further, Hashoshi lauds the development rate of protocols on the blockchain as projects continue to build. Related Reading: Ethereum Whales Send $486 Million To Coinbase, Time To Exit? \u201cCardano\u2019s done things almost completely different from the start,\u201d the analyst said. \u201cThey\u2019re in a good position right now, despite what people might believe, to make a resurgence if the conditions are correct,\u201d he further added. For the price of ADA, the analyst explains that with liquidity coming back into the crypto space, the price of the digital asset could reach above its previous all-time high of $3.10.\u00a0 \u201cThe community is still strong\u2026 and I think then you see them outstrip that previous all-time high.\u201d Hashoshi is not the only analyst bullish on the price of ADA going forward. Another analyst Kara Szabo has predicted that the price of the digital asset could climb to $5. Szabo also bought $20,000 worth of ADA at the start of September, signaling the analyst\u2019s conviction on the altcoin\u2019s bullish performance going forward. \u201cMy conservative price estimate for the next bull run is $5,\u201d Szabo said on X. \u201cI know some people will think this is low, but this is a 20x from the current price!! For a large market cap alt, this very well may be one of the best plays in crypto at the current price point.\u201d Here is my in-depth #Cardano $ada price prediction for the upcoming bull market. This very well may be the best performing large market cap that investors are sleeping on: \u2705 Ada has a max supply of 45,000,000,000 tokens with approximately 35,045,020,830 of those tokens in\u2026 pic.twitter.com\/k4Hs89q1lG \u2014 Kara Szabo (@kararesurrect) September 9, 2023 Cardaon’s token plunges to $0.24 | Source: ADAUSD on Tradingview.com But Why Is ADA Price Falling? Despite the bullish sentiment that has enveloped the digital asset, the ADA price has continued to struggle in the market. The reason for this decline can be attributed to a significant amount of ADA being unstaked from smart contracts, causing the total staked ADA to slide downward. Data from DeFi tracker DeFiLlama shows that the total tokens staked on the Cardano network dropped from above 777 million on September 2 to 733 million on September 11. This meant that over 43 million ADA were unstaked and likely made their way to the open market as these holders sold their stash. Staked tokens nosedive in September | Source: DeFiLlama Such a large amount being dumped into the market in a period of low liquidity could see the altcoin continue to drop, especially if more ADA is unstaked to be sold in the open market. Related Reading: Why The Shiba Inu Price Cannot Realistically Get To $0.001 However, ADA\u2019s long-term outlook remains bullish as the Cardano network remains one of the networks with the most developments taking place. As developers flock to the network, investors are expected to follow. At the time of writing, ADA is struggling at $0.24, down 2.33% in the last day and 5.10% in the last week. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":550749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[12333,89347,89348,84005,14643,79508,12332,84164,89230],"class_list":["post-550737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ada","tag-ada-news","tag-ada-prediction","tag-ada-price","tag-adausd","tag-adausdt","tag-cardano","tag-cardano-network","tag-cardano-news"],"acf":[],"yoast_head":"\nAnalysts Are Bullish On ADA But Price Keeps Tanking, What\u2019s Going On?<\/title>\n<meta name=\"description\" content=\"Despite the faith that remains in the digital asset, the ADA price continues to tank 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analysts Are Bullish On ADA But Price Keeps Tanking, What\u2019s Going On?","url":"http:\/\/uniquehot.com\/news\/cardano\/ada-price-tanking\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/cardano\/ada-price-tanking\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/iStock-1336958377.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/iStock-1336958377.jpg?fit=2121%2C1414"},"articleSection":"Cardano","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada","ada news","ada prediction","ada price","adausd","adausdt","cardano","cardano network","cardano news"],"dateCreated":"2023-09-11T23:00:30Z","datePublished":"2023-09-11T23:00:30Z","dateModified":"2024-06-11T08:53:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analysts Are Bullish On ADA But Price Keeps Tanking, What\\u2019s Going On?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/ada-price-tanking\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/cardano\\\/ada-price-tanking\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/iStock-1336958377.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/iStock-1336958377.jpg?fit=2121%2C1414\"},\"articleSection\":\"Cardano\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada\",\"ada news\",\"ada prediction\",\"ada price\",\"adausd\",\"adausdt\",\"cardano\",\"cardano network\",\"cardano news\"],\"dateCreated\":\"2023-09-11T23:00:30Z\",\"datePublished\":\"2023-09-11T23:00:30Z\",\"dateModified\":\"2024-06-11T08:53:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/09\/iStock-1336958377.jpg?fit=2121%2C1414","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/550737"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=550737"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/550737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/550749"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=550737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=550737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=550737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}