The Cardano price has increased by 1% in the past 24 hours, reaching $0.260110 as the wider cryptocurrency market barely moves today.
ADA’s rise means that it has become the ninth-biggest coin in the market in terms of capitalization, with the altcoin also up by 6% in a week and by 1% in the last 30 days.
The cryptocurrency has also risen by 5.5% since the beginning of the year, and with the market showing some signs of long-term recovery earlier this week, Cardano’s fundamentals could help it see more gains in the near and more distant future.
Cardano Price Prediction as ADA Becomes Top 10 Coin in the World – Can ADA Reach $100?
ADA is showing encouraging signs of strength at the moment, with its indicators warming up but still have plenty of space left to rise before the coin becomes overbought.
Its relative strength index (purple) is rising to 60 after struggling to hit 40 around a week ago, with the coin’s growing momentum potentially on course to increase further in the coming days.
At the same time, ADA’s 30-day moving average (yellow) looks as though it’s about to begin rising up towards its 200-day average (blue), after having spent months well below the longer term indicator.
In other words, ADA has been oversold for too long, so today’s rise could be the beginning of a much-needed recovery rally.
There’s no particular fundamental reason or piece of news as to why ADA is rising today, yet it needs to be remembered that Cardano continues to grow and developer as a layer-one blockchain network, and that its development ultimately means that ADA should rise sooner or later.
Indeed, Cardano’s total value locked in has risen by 220% since the beginning of the year, and given that this percentage far exceeds ADA’s gains over the same period, it has to be concluded that the rising TVL is due to rising usage.
Other signs of rising usage come from the data which shows that Cardano now has 144 projects up and running on its platform, as well as 1,287 projects currently under development.
Yes, Cardano’s growth has been slow and steady, but it’s arguable that it’s closing in on reaching a critical mass that should see its adoption and usage rates increase considerably.
And in turn, ADA is likely to rise in value with it, with the altcoin potentially on track to reach $0.30 in the next couple of weeks and then $0.40 in the final month of the year.
Other Fundamentally Strong Altcoins
While ADA is a fundamentally sound token, its progress continues to be gradual, so traders looking for faster above-average gains may be advised to look elsewhere at the moment.
Presale token have provided one promising source of high returns this year, with Wall Street Memes (WSM), for example, already racing to 260th in the overall cryptocurrency market after its successful sale.
And one of the most interesting presales happening right now belongs to TG.Casino (TGC), a decentralized casino platform that will combine online gaming and gambling with social networking.
TG.Casino has already raised more than $400,000, despite the fact that its sale began only a couple of weeks, meaning that investors are quickly jumping on the coin in the belief that it could do well.
What makes TG.Casino different from many of its rivals is that it will have a strong presence on Telegram, harnessing the messaging app’s pre-existing communities to provide itself with a large and growing userbase.
This use of Telegram will give TG.Casino an edge over its competition, with its base of supporters likely to help boost its native token and recruit further users.
On top of this, TG.Casino will feature a wide assortment of online games and gambling experiences, which will give users the chance to earn rewards in TGC.
As the platform’s native token, TGC will be open to staking and will have a hard cap of 100 million, with 40% set aside for its presale, 20% going to staking rewards and 10% to gaming rewards, all of which will incentivize strong engagement from its community.
To join the presale, new investors need only go the official TG.Casino website, where 1 TGC will cost $0.125 for the duration.
From there, the coin will then list on exchanges once the sale has closed, potentially becoming another 2023 success story.
Visit TG.Casino Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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