On Saturday, Cardano price prediction turned slightly bullish, having bounced off the support level of $0.2400. Users of the Trust wallet for iOS can now stake ADA, Cardano’s native token, on the platform to earn interest and strengthen platform security.
In December, the official Binance self-custody wallet app made the feature available for Android users. As stated in the release, an easy three-step process is outlined for staking. It begins with sending $ADA to the Trust wallet, followed by a click to the stake button at their login address.
Binance’s Self-Custody Wallet Adds iOS ADA Staking, Boosting Cardano
Pick a validator to use for staking. In addition, the wallet team mentioned that stake incentives do not accumulate automatically and that a minimum of 4 ADA is required to stake and unstake funds. Binance reports that in 2021, despite the continued market cycle, Cardano’s network saw a surge in smart contract use of 340% due to rising developer interest.
The new service provides iOS customers with a number of advantages, one of which is the ability to buy ADA directly from the Trust Wallet app. The statement also states that users may send and receive ADA using a single app, and that this app provides a consistent interface for monitoring the value of their stored assets over time.
In order to use your Trust wallet on the Cardano network, you’ll need to have the most up-to-date app, which is currently version 6.16.
Cardano Price Prediction
Cardano’s current price is $0.2485, with a 24-hour trading volume of $143 million. Cardano has increased by nearly 2% in the previous 24 hours. CoinMarketCap now ranks #9, with a live market cap of $8 billion. It has a total quantity of 45,000,000,000 ADA coins and a circulating circulation of 34,518,466,414 ADA coins.
Cardano is currently trading in a range of $0.2400 to $0.2700. In contrast, a positive breakthrough of the ADA/USD pair might extend the uptrend to the $0.2985 level. A bearish collapse below the $0.2500 mark, on the other hand, might expose ADA to the $0.2215 level.
ADA’s selling basis remains strong despite the bearish breakout of the descending triangle pattern. The RSI, MACD, and 50-day moving averages of Cardano all indicate a selling trend.
On a daily chart, the ADA/USD pair forms Doji and Spinning top candles, indicating hesitation; perhaps investors are waiting for a big reason to begin a breakout.
Cardano undoubtedly showed growth and development in 2022, despite the adversity in the crypto market. IOG, a Cardano developer, claims that 2022 was a watershed year for the Cardano ecosystem because of its active and committed user base.
In a series of tweets, IOG looks back at 2022 in the Cardano ecosystem and forward to the age of Voltaire in 2023. It claims that one of Cardano’s ambassadors, Vasil St. Dabov, inspired an early 2022 push for an upgrade known as the Vasil upgrade.
2022 was a landmark year for the #Cardano ecosystem, and it was all because of you, the community. A global movement of developers, entrepreneurs & artists built new solutions, businesses, and experiences on rock-solid foundations.
— Input Output (@InputOutputHK) December 30, 2022
Initiation of the Vasil hard fork update on the Cardano mainnet occurred on September 22; the deployment of Vasil features occurred five days later, on September 27. Vasil improved Cardano’s speed and scalability, making it a more powerful network.
In 2022, Cardano Outperformed Ethereum, Polygon, and Seven Altcoins: Santiment
Santiment, a crypto analytics platform, has revealed that, on a key parameter, Cardano (ADA) has outperformed all other blockchain protocols in 2022. Santiment claims that in 2022, Cardano’s development activity in the crypto ecosystem was higher than that of Ethereum (ETH) and other blockchain technologies.
If you look at the code contributions made to the popular hosting site for software development, GitHub, you’ll see that Cardano has 2,434 more commits than Polkadot (DOT), the blockchain protocol with the second-highest degree of development activity.
While Cosmos Hub (ATOM) came in third with 1,622 commits on Github in 2022, Polkadot came in first with 2,065. Among the top ten most active projects on Github in 2022, Ethereum ranked fourth with 1,485 commits, whereas Polygon (MATIC), a scaling solution, ranked tenth with 526 commits.
Despite the market’s slowing, the currencies listed below could be excellent additions to your portfolio.
Dash 2 Trade (D2T)
Dash 2 Trade is another Ethereum-based cryptocurrency. You’ll have access to the most latest social data, on-chain analytics, and presale market data thanks to their exclusive grading system. Investors continue to be drawn to the currency because it provides critical crypto trading signals quickly.
Top-tier exchanges are prepared to list the D2T token after the presale, and they anticipate a significant amount of daily trading activity once the token becomes live.
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Author: Arslan Butt
Arslan is a professional live webinar speaker and derivatives (cryptocurrency, forex, commodities, and indices) analyst. Arslan holds an MBA in Finance, and an MPhil in Behavioral Finance.
Arslan brings a broad range of skills to help beginners evaluate financial data and investment trends, carry out technical analysis, fundamental analysis, and …