Cardano Price Prediction as Cardano Adds 20,000 New Staking Addresses to Network – Can ADA 10x From Here?
Cardano price prediction remains bearish under the $0.3285 resistance level, as the 50-day SMA and RSI are driving the bearish trend in ADA. The ADA/USD pair opened at $0.3118 and has since reached a high of $0.3130 and a low of $0.3106, with the pair currently trading at $0.3130. During the last 24 hours, the price has dropped by 0.50%.
Furthermore, the ADA/USD pair fell by more than 2% in the previous week.
The Cardano network has recently seen an increase in activity. On December 10, Adverse News tweeted that the Cardano network had recently reached 7.2 million native assets.
Adverse News also recently tweeted that the Cardano network had completed 66,000 transactions in the previous 24 hours. The two milestones had no effect on the ADA/USD value, as the altcoin's price is currently declining.
Binance.US, the Binance exchange's American subsidiary, tweeted on December 9 that users could now trade Cardano (ADA) against USD Coin (USDC). Users on Binance.US can now exchange ADA for USDC and other currencies.
Additionally, the exchange lists Cardano's rival Solana (SOL), which can be exchanged for stablecoin trading pairs. With the announcement, Binance.US emphasized that both cryptocurrencies' goals are "scalability, interoperability, and sustainability."
ADA was also listed on the BitMEX market earlier this week. The new listings influenced the ADA/USD price positively and moderated its decline.
Cardano's decentralized finance (DeFi) ecosystem is rapidly expanding. Optim Finance (OTM), a farming and yield-generating system, is about to become the newest groundbreaking DeFi protocol to launch on the Cardano blockchain.
On its official Twitter account, Optim Finance confirmed that its SPO liquidity bond functionality would
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