Cardano network activity and bull run: ADA price on the way to 1 USD?

Cardano network activity and bull run: ADA price on the way to 1 USD?

According to a report from bitcoin-2go.de, the ADA price recorded an increase of almost 50 percent in the last 30 days. This development raises the question of whether Cardano can continue its bullish momentum.

The fundamental data shows that network activity continues to gain momentum and Total Value Locked (TVL) is also posting strong gains. In addition, Midnight ushered in a new era of partner chains.

The increasing transaction activity among new entrants and existing market participants indicates increased demand on the Cardano network, which could cause further price increases in the coming days. This increase goes hand in hand with the growing range of DeFi applications on Cardano, which has led to a significant increase in TVL.

The launch of the Midnight Network marks a new era for the Cardano ecosystem and aims to address digital privacy concerns. This also lays the foundations for the integration of additional partner chains.

Based on the analysis of current factors, it is predicted that ADA could continue its rise and launch another attack on the $0.40 mark in the future. Technical analysis as well as the MACD indicator also support this bullish sentiment.

All in all, Cardano is currently showing massive bullish momentum and the prospect of further price increases in the future seems promising.

Source: bitcoin-2go.de