Despite a temporary drop to $0.81 on March 14 and a rebound from $0.57 on March 20, ADA has crossed $0.67 today.
The unique price of ADA, the ninth largest cryptocurrency, indicates a strong battle between the bulls and bears, but can the bulls win the battle and can ADA pass the 1 euro mark?
The rise of Plutus V2
The Cardano network has seen a significant increase in the number of Plutus scripts, including versions 1 and 2, with a 171.45% increase since the beginning of the year. This exponential growth has resulted in the addition of nearly 500 new smart contracts daily, underscoring Cardano’s thriving ecosystem and its commitment to improving blockchain functionality and user experience.
Plutus, Cardano’s native smart contract programming language, has evolved with its latest iteration, Plutus V2, which introduces advanced features that streamline transaction sizes and fees while providing developers with a more flexible and scalable framework.
This innovation has led to an increase to 39,000 smart contracts on the network, with daily additions averaging 495 – mainly in the Plutus V2 category.
In addition to the growth in smart contract development, Cardano is also showing a significant increase in user activity. Over the past 30 days, the number of active wallet addresses on the network peaked at over 600,000, an increase of almost 40% over the same period.
Cardano on the Point of Breaking Crucial Resistance Towards $1
In the last 24 hours, Cardano (ADA) saw a 5.04% gain to $0.675, after reaching highs of $0.68 – a price point that has served as a pullback in recent days.
According to recent data from IntoTheBlock, 202,520 addresses have collectively purchased 6.26 billion ADA within the price range of $0.599 to $0.65, with ADA currently having an average price of $0.621. These purchases illustrate a significant zone of support that ADA currently finds itself in.
However, ADA now faces a significant challenge: a resistance of 3.47 billion ADA, ranging from $0.65 to $0.74, where 185,980 addresses purchased ADA at an average price of $0.70. This resistance represents a critical concentration point of ADA ownership, which could act either as a barrier or a springboard to Cardano’s value.
With the current price action, the bulls are about to test this resistance at 3.47 billion ADA, hoping to push ADA’s price towards the coveted $1. This resistance has thwarted previous attempts by the bulls to push ADA towards this threshold. As they gear up for another attempt, all eyes are on whether they can muster enough strength to overcome this significant resistance and propel Cardano to new heights.
Victory at these critical levels would not only shape Cardano’s short-term price trajectory but also have broader implications for market dynamics. Successfully overcoming this range could lead to the takeover of the key range between $0.74 and $1.08, where 1.76 billion ADA was purchased by 444,540 addresses at an average price of $0.913.
While Cardano is making significant strides towards 1 euro, it is essential to also explore other opportunities to take full advantage of an upcoming bull market.
Green Bitcoin (GBTC)
The green solution for Bitcoin, known as Green Bitcoin (GBTC), uses the Ethereum blockchain that allows investors to earn stable returns while keeping sustainability intact.
With GBTC staking, one can obtain free tokens without performing any activity or task; The notable advantage in this sense is that it is an easy way to generate a passive income stream. Nevertheless, for speculators who can foresee Bitcoin’s value and significant profit predictions, it would be a completely different story. If you want to try two types of bets: the standard bet or the ‘predict and earn’ bet, choose the one with the highest predicted return.
In the first phase of the presale, the Green Bitcoin tokens are being offered for just $1.10 each. You would be happy to know that there is a high chance of earning as much as 76% annually as returns if you join this group. Meanwhile, it can be revealed that the presale has been successful so far with over $8.7 million raised in support, but will close soon. After GBTC goes through and completes the IPO process in due course, we can expect its value to increase significantly.
Dogecoin20 (DOGE20)
As a meme coin, DOGE has remained subdued over the course of this year, and while DOGE20 (Dogecoin20) is one of the alternatives to Dogecoin (DOGE), it has also failed to gain much volume. DOGE is only up 50% in the last 30 days, while other meme coins have risen much further. In creating Dogecoin20, an attempt has been made to unify some of the attractive features of Dogecoin and also overcome the problem of DOGE appearing worthless.
One earns DOGE20 through the process of passive holding without the energy-intensive Proof-of-Work (mining) that Dogecoin requires.
https://twitter.com/DOGE_COIN20/status/1771824307766808781
At the presale you can get a Dogecoin20 for just $0.000209 with the option to put it into a DeFi project that gives you 118% APY per year. In the first two weeks, DOGE20 already managed to bring in more than $8.7 million in volume; therefore, this latest meme coin is highly popular and expected to skyrocket after launch.
Disclaimer: This article contains insights from independent authors and is not part of BitcoinMagazine.nl’s editorial content. This is not investment advice, please do your own research.
Source: https://bitcoinmagazine.nl/nieuws/ada-koers-klimt-benadert-weerstand-kan-ada-1-euro-worden
