Cardano: Decoding the NFT, DeFi factor in ADA’s journey
Polkadot [DOT]: A Q3 assessment of the network for your next trade
Polygon records 3X growth in this area; still, MATIC faces challenges
This Solana “Long-term Fix” may be the answer to all of SOL’s problems 
CHZ short-term investors looking for gains should watch out for this crucial level
Bitcoin holders should look at these metrics before deciding to HODL
Bitcoin’s next bull run may have a USDC connection, here’s ‘how’
Bitcoin’s hashrate posts impressive numbers, but when will BTC’s price do that
This Bitcoin factor could determine the real value of your portfolio
Bitcoin: Assessing the impact of BTC’s correlation with traditional markets
Assessing how Ethereum [ETH] fared in all of Q3
Ethereum [ETH]: This is the silver lining to its post-Merge performance
Ethereum’s activity index and what to expect from it in Q4
Ethereum: This Merge aftermath may put ETH in a fix
Ethereum: How this underestimated asset may be ETH’s saviour soon

Cardano [ADA] was one of the few cryptocurrencies that were extremely affected by the bear market of Q2 and Q3. In fact, the price of ADA has witnessed a massive depreciation over the past month. Furthermore, despite the market’s bearish conditions, Cardano’s team has been trying to garner interest from the NFT communities
However, Cardano’s efforts didn’t bear any fruit as the blockchain couldn’t generate much in terms of NFT sales.
Here’s AMBCrypto’s Price Prediction for Cardano for 2022-2023
 As can be seen from the image below, the NFT sales for Cardano were pretty much flat throughout the past 30 days, except for 28 September.
The NFT sales on this day witnessed a huge spike. The spike could thus be attributed to the excitement over the launch of a Cardano NFT gaming project.
Source: Santiment
The declining NFT growth wasn’t the only reason for Cardano’s troubles. Another factor that posed a threat to the growth of ADA could be its declining DeFi activity.
Over the past month, ADA’s total volume locked (TVL) witnessed a massive depreciation in its value. At press time, its TVL was at $75.66 million and had decreased by 0.70% in the last 24 hours. 
Source: DefiLlama
To improve its chances of a revival, the Cardano team will have to work on its growth in both the NFT and the DeFi space. However, a positive future for Cardano seems far-fetched at the moment as the bearish indicators outweigh the bullish ones.
For instance, the Market Value to Realized Value (MVRV) ratio was on a downward trend since 18 September. This could make investors skeptical about investing in ADA.
Meanwhile, the developer activity was also seen to be declining since 28 September indicating that there was a reduction in Cardano’s GitHub activity.
Source: Santiment
But that’s not all, the crypto community’s sentiment towards Cardano also didn’t seem positive. Over the past month, the weighted sentiment against Cardano was mostly negative and had been declining since 20 September.
This decline could imply that traders were not looking favorably upon ADA, at the time of writing.

Polkadot [DOT]: A Q3 assessment of the network for your next trade
Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Cardano’s [ADA] TVL slumps to an all-year low, but here’s the catch
Cardano: Wallets created in Sept. were 3.60M; can it assure a price hike
Why Cardano’s latest support level plays a critical role after recent losses
Cardano’s [ADA] price reacts this way as Voltaire hint airs
Cardano: Is the blockchain’s effort to push ADA’s price just another ‘fool’s errand’
‘Over promise, under deliver, never deliver’ may be the latest crypto motto as per…
Your email address will not be published.

document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );

Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.


Write A Comment