Can Ecosystem-Based Developments Drive the Cardano (ISLAND) Price?

0
20

After a negative September, the crypto currency market had a nice upward momentum in the fourth quarter of the year. However, it has recently reached an all-time high in terms of price Cardano (ADA) seems to have entered a heavy recovery phase on the mountain compared to other crypto currencies in the last three-day rise.

Ecosystem-Based Developments

Although Cardano does not seem to have gained much momentum in the recent uptrend, which began on the first of October, it still manages to maintain the level of support in the 2 dollar band. Some analysts claim that ecosystem-based developments could reignite the ISLAND.

The recently announced Cardano network will have a stablecoin “Djed” as well as the project, DeFi the liquidity protocol MELD te is preparing to launch a gold-backed stablecoin on the Cardano network.  In addition, Cardano Marketing Officer David Taylor, who shared the announcement of the new partnership with Tingo Mobile, Nigeria’s largest mobile network, dec that the partnership between MELD, Tingo and Cardano can bring crypto services to millions of active subscribers. According to David Taylor, this will increase the adoption of ADA in the country and ensure that 9 million customers have access to Cardano.

Can It Catch Up with the Old Price Performance?

Cardano, the smart contract platform founded by the American mathematician Charles Hoskinson, has been trading at $3 price levels in recent months, recording significant increases compared to other crypto currencies on the market. However, with the market decline in September, other crypto currencies such as NAME da had started making downward price movements.

The leading cryptocurrency as of October 1, 2021 Bitcoin‘s managed to jump from the $43,000 price levels to the $48,000 price levels and made a very nice entry into October. With the rise of BTC, some altcoins have recorded very serious value increases. But Cardano, it has not yet demonstrated its price performance, which it showed in the last months of the year. However, there are many analysts who claim that some ecosystem-based developments will re-activate ADA.

The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.

You can follow our news on our Telegram channel, Instagram, Facebook, Twitter accounts and Youtube channel.