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