Santiment analysts point to a possible doubling of ADA growth
According to experts, the market value to realized value ratio of the asset has now reached the lows of 2019
23.10.2022 - 06:30
447
2 min
0
The material is not an investment recommendation and is published for information purposes only.
What’s new? Analysts at Santiment reported that the token of the Cardano(ADA) network could see double growth over the next three months. Experts noted that the market value to realized value (MVRV) ratio of the asset is currently at its lowest since January 2019. In this, the last time the MVRV ratio reached such a mark, ADA’s price doubled. As of October 22, 11:55 UTC, the asset is trading at $0,35, having gained 5,02% in 24 hours, according to crypto exchange Binance.
📊 #Cardano now sits at its lowest relative position compared to its realized value since Jan, 2019. This is a sign of undervaluation based on average trader losses. $ADA's price doubled the following 3 months the last time its MVRV Z-Score hit this level. https://t.co/D8Bwk2GWEB pic.twitter.com/gnOuGVqqOq— Santiment (@santimentfeed) October 22, 2022
What is known about Cardano? It is a blockchain platform created by Input Output Hong Kong (IOHK) and Ethereum co-founder Charles Hoskinson in 2017. Cardano supports smart contracts and also has the native token ADA that enables users to participate in the operation of the network. The asset ranks eighth in the cryptocurrency ranking with a capitalization of $12,3 billion.
On September 23, the network’s developers launched the Vasil hard fork. The upgrade reduced the cost of executing scripts and the size of transactions, as well as increasing the network’s throughput by about 20-30%.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 832
BTC
+2.98%
-
Ethereum
$3 364.22
ETH
+8.76%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.38
XRP
+24.62%
-
Dogecoin
$0.393192
DOGE
+3.74%
-
Cardano
$0.869677
ADA
+11.42%
-
Bitcoin Cash
$494.99
BCH
+9.81%
-
Polkadot
$6.17
DOT
+10.59%
-
Stellar XLM
$0.283321
XLM
+18.07%
-
Litecoin
$90.09
LTC
+7.07%