The cryptomarkt continues to fall, and Cardano (ADA) is also hit hard by the sales pressure. In the last 24 hours, the digital currency has lost almost 20% of its value. This decrease is in line with a months -long negative trend, while Ada still tucked a local peak of almost $ 1.30 at the beginning of December. However, what is striking is that the trade volume does not decrease, but rather explosively increases. What’s behind this?
Trade volume rises by 428%
According to data from Coinmarketcap, the trade volume rose by 428.86% to $ 3.77 billion. This enormous increase is striking, especially because the price at the same time was firmly understood. This suggests that traders will take en masse action, probably for fear of further losses or to close positions.
Market sentiment changes through Trump illness
The panic on the cryptomarkt is striking. Where investors were still optimistic prior to the inauguration of Donald Trump-with a new all-time high (ATH) of Bitcoin (BTC) and an upward trend in the wider market-there is now uncertainty. Trump’s promised crypto policy is not forthcoming, which makes investors nervous.
Plomin hard fork and new roadmap as hopeful signals
Yet there are positive developments on the Horizon for Cardano. The recent Plomin Hard Fork entails improvements that developers and users benefit, such as faster and cheaper transactions.
In addition, Input Output (IO), the blockchain company behind Cardano, has unveiled a new roadmap with ambitious goals for 2025. The focus is on scalability, governance and interoperability. The ultimate goal: to build a blockchain that can support billions of users worldwide.
Patience is required
Although these fundamental developments are hopeful, it often takes a while before the impact becomes visible in the course. Investors will therefore have to be patient to reap the benefits of these innovations.
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Source: https://newsbit.nl/cardano-koers-keldert-maar-handelsvolume-explodeert-wat-is-er-aan-de-hand/
