Cardano price could extend gains riding on bullish on-chain metrics


21 Nov 2023 1:20 PM

Cardano is currently in an uptrend, and the altcoin is likely to extend its gains according to on-chain metrics. ...

  • Cardano is currently in an uptrend and its price is trading above $0.3786.
  • The Cardano Foundation has committed to using its ADA token wallet to vote in favor of Cardano Improvement Proposal (CIP) 1694, supporting the decentralization of the network.
  • On-chain metrics, such as Network realized profit/loss (NPL) and Market Value to Realized Value ratio (MVRV), are flashing bullish signals for ADA price.
  • The recent spike in net realized losses of ADA wallets and the low selling pressure on the asset across exchanges support ADA's recent gains and present a neutral to bullish outlook.

The article has a positive sentiment as it highlights the bullish signals for Cardano's price and the commitment of the Cardano Foundation towards decentralization.

Go to publisher site

You May Ask

What is the current price of ADA and its trading trend?What is the Cardano Foundation's commitment regarding ADA?What on-chain metrics are supporting ADA price gains?What is the potential support level for Cardano price in case of a decline?What are the catalysts that could extend Cardano's price rally?

Suggested Reads