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Cardano is displaying tenacity at a time when its contemporaries are on the verge of collapsing. The cryptocurrency industry is being hammered by the bear market, with most cryptocurrencies now trading at prices not seen since the middle of last year. This drop, on the other hand, has created a chance for crypto investors to buy the proverbial dip in appealing crypto assets that are expected to do well in the months ahead.
Cardano is one of the cryptocurrency industry’s most stable blockchain networks. It’s a tried-and-true cryptocurrency asset. The founder, Charles Hoskinson, has defined ADA as a solid, futuristic technology with a programming staff that places a premium on accuracy over speed. Today, the value of ADA climbed dramatically, jumping as much as 9% in the last 24 hours, as investors continued to exhibit interest in the asset as the financial sector began to show signs of recovery.
Hoskinson responded to a recent survey conducted by @LondonRealTV, the same-named media firm’s Twitter account, on Twitter. According to the survey, approximately 80% of respondents picked Cardano’s native coin ADA above other major cryptocurrencies in a bear market.
It appears that the cryptocurrency is more popular than Bitcoin, Ethereum, or any other cryptocurrency. ADA received 78 percent of the vote, while Bitcoin and Ethereum received 11 and 5%, respectively. The token led the market on June 3 as the highest gainer among the top 100 cryptocurrencies by market value, increasing by more than 13%. In both percentage and momentum, its re-allocation rate was larger than the other chains. Cardano whales have been transporting massive quantities of ADA as this has unfolded, just prior to a significant price spike.
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The Vasil hard fork is currently being developed by the ADA development team, and it is expected to be released in July. The patch aims to make Cardano’s smart contract support more efficient. The Cardano Hydra upgrade is expected to be released in the third quarter of 2022. These characteristics are expected to improve Cardano’s acceptability and drive up its price. As a result, Cardano is an excellent buy in the present bear market.
Cardano (ADA) outperformed its peers in the last 24 hours as the blockchain made progress in its relationship with satellite TV provider DISH Network. ADA rose over 10% to $0.639, according to Coinmarketcap.com, outperforming the top ten cryptocurrencies. DISH will use Cardano technology to create a decentralized identification and loyalty token, extending their cooperation that began late last year.
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