Is Cardano (ADA) Dead? • Bear Market Analyis • Benzinga Crypto - Aliens: AI Crypto News & Markets Updates
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Is Cardano (ADA) Dead? • Bear Market Analyis • Benzinga Crypto

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Benzinga

Tue, May 24, 2022

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While Cardano remains a top-ten coin by market capitalization, it has struggled in finding utility, developers or technical advantages over other cryptocurrencies.

Contents The obvious reason Cardano is down is, like all other cryptocurrencies , it follows the price of Bitcoin.

Much like money running from speculative tech stocks into value stocks, we are seeing money run from speculative altcoins like Cardano for more tangible investments or just cold hard cash.

Financial analyst and crypto trader Zach Watson made a bearish statement on Cardano, “It’s ridiculously slow in terms of transactions per second, compared to other coins.

Yet everything always gets pushed and delayed, so their actual product has not really done anything yet.” This frustration has proven to be shared among the crypto community; even the most loyal Cardano holders are beginning to show frustration as the coin touched just 40 cents this month.

With ADA more than 80% off its all-time high, the coin still holds a market cap of over $17 billion, keeping it in the top ten by token market capitalization.

Crypto markets undergo a multitude of cycles.

However, the infancy of the market makes it difficult to understand the cycles crypto undertakes, at least in comparison to stock indices like the S&P 500.

While the stock market historically performs poorly in the summer months compared to winter months, no such links have been reliably traced in crypto.

Like a bear market, crypto winter typically lasts months rather than years.

The other cycle that begins when Bitcoin price crashes or lulls is “altcoin season.” This is when altcoins like Ethereum, Cardano or Solana rally in price in comparison to that of Bitcoin.

It is still unknown which cycle the market is in, but as Bitcoin crashes and the altcoins tail behind, it certainly feels like the former.

earn free crypto securely through Coinbase’s website Coinbase is one of the Internet’s largest cryptocurrency trading platforms.

New cryptocurrency traders Cryptocurrency traders interested in major pairs Cryptocurrency traders interested in a simple platform Simple platform is easy to operate Comprehensive mobile app mirrors desktop functionality Coinbase Earn feature rewards you with crypto for learning about available coins Higher fees than competitors Cardano can be bought on most cryptocurrency exchanges, including Coinbase Global Inc.

That said, Terra (LUNA) became near worthless, and the coin was above Cardano in market capitalization just weeks prior.

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