The cryptocurrency market fell on the weekend, with major coins, such as Ada Cardano, which is sinking by more than 7 %.
Bitcoin price decreased dramatically, causing significant losses in the cryptocurrency market. The bubbles of the crystal currency lost more than 500 million dollars during the past 24 hours, as merchants got profits with the decline in the markets.
Over the past 24 hours, the Ada price has decreased by approximately 3.76 %, reaching about $ 0.76. This decline is part of a wider direction, coinciding with a general decline in the cryptocurrency market. However, Cardano (ADA) witnessed an increase in trading volume, reaching $ 1.2 billion, according to Coinmarketca data.
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If the price continues to decrease, Cardano may decrease to SMA for 50 days at $ 0.69 and then to support $ 0.60. On the contrary, a strong bounce off $ 0.75 indicates demand for lower levels. The bulls will then seek to pay the ADA price above $ 0.86. If they succeed, Cardano may reach $ 1.01.
Kardano sees growth
according to Missari The recently released report, in Q1, the maximum stablecoin market of Cardano increased by 30 % to $ 30.1 million.
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The average cost of treatment in Cardano increased by 27 % to $ 0.29, while the average transaction fee (in ADA) increased by 1 % quarterly to 0.34. The balance of the Ministry of Treasury in Kardano (in ADA) increased by 5 % quarterly to 1.7 billion ADA, while the value of the Treasury in US dollar decreased by 19 % to $ 1.1 billion. The Treasury provides funds to preserve and expand Cardano, with resources that are deployed through community governance after a severe thorn in the fourth quarter. Currently, 20 % of Cardano transactions fees are directed to the cabinet, which can be adjusted through governance.
The Plomin upgrade, which was implemented through the Cip-1694, 1220 trains to support the decentralized rule, which represents a historic moment. With the Ouroboros Leios ready to reduce production and end to a few seconds, Cardano expects Midnight-Play and Fling Ramescale Etf, Cardano major features in the coming days.
