Cardano's NVT ratio has surged to reach June levels, risking a further decline on ADA price charts.
Cardano eyes a comeback over Toncoin as crypto casino Rollblock rockets toward the top 10, projected for 10,000x growth by early 2025. #partnercontent
Cardano eyes a comeback over Toncoin as crypto casino Rollblock rockets toward the top 10, projected for 10,000x growth by early 2025. #partnercontent
The post With This Move, Solana May Soon Flip BinanceCoin to Become 4th Largest Crypto—But Here’s a Major Twist! appeared first on Coinpedia Fintech News Solana price reached a 3-month high, marking the highs at around $183.38 while the volume remained within the decent range. Currently, the markets are extremely hyped and bullish on Solana and SUI, and as a result, tokens like Ethereum, XRP, and Cardano are losing the trader’s attention. In the meantime, SOL bulls demonstrate acute strength …
Despite macroeconomic headwinds, Bitcoin (BTC) looks primed to create a new all-time high (ATH), charged by positive Q4 2024 seasonality. Bitcoin New ATH On The Horizon? On October 28, BTC surged past $71,000, sparking optimism for a new ATH above the $73,737 peak recorded in March this year. Although BTC has crossed the $70,000 threshold
On-chain data shows that Cardano’s Network Value to Transactions (NVT) Ratio has surged recently. Here’s what this could imply for ADA’s price. Cardano NVT Ratio Has Surged To Its Highest Level Since June In a new post on X, the market intelligence platform IntoTheBlock discusses the latest trend in Cardano’s NVT Ratio. The “NVT Ratio” here refers to an on-chain indicator that keeps track of the ratio between the ADA market cap and transaction volume. When the value of this metric is high, it means the value of the network is high compared to its ability to transact coins. Generally, this can signal that the coin’s price is overvalued. Related Reading: Ethereum Bullish Signal: Whales Withdraw $750 Million In ETH From Exchanges On the other hand, the low indicator implies the market cap may be undervalued compared to the blockchain’s volume, so ADA’s price could be due to a rebound. Now, here is a chart that shows the trend in the Cardano NVT Ratio over the last few months: As is visible in the above graph, the Cardano NVT Ratio has witnessed a notable surge recently, even though the coin’s price has been following an overall bearish trajectory. This would suggest that the transaction volume has tanked on the network. Following this latest increase, the indicator has spiked to the highest level since June, implying that the cryptocurrency hasn’t been this overvalued in six months. The reason behind this trend is likely to be the lackluster price action the coin has witnessed for a while now. Other assets, such as Bitcoin, have started to pop off recently. At the same time, ADA has remained a sideways movement, so ADA investors may be fed up and leave to explore greener pastures. Related Reading: “Time To Get Ready For Another Bull Run,” Bitcoin Analyst Says— Here’s Why “Historically, elevated NVT ratios often precede price pullbacks,” notes the analytics firm. Thus, the recent spike in the indicator could spell further trouble for the already struggling coin. The Cardano NVT Ratio could now be to keep an eye on in the coming days, as any more jumps in the metric may confirm a bearish outcome. However, there is also the possibility that the trend will see a reversal, with enough activity returning on the network to justify its current market cap. ADA Price The cryptocurrency sector as a whole has been rising during the past day, and Cardano has followed suit. Although the coin’s surge has been smaller than Bitcoin’s, the asset has climbed above the $0.348 level. The chart below shows the coin’s recent trajectory. Featured image from Shutterstock.com, IntoTheBlock.com, chart from TradingView.com
Cardano (ADA) could be ready for a breakout, according to crypto analyst Ali Martinez. Martinez posted on X that ADA’s price action is similar to 2020, suggesting the cryptocurrency could turn bullish as soon as November 18th. This prediction considers ADA’s price trajectory in the previous bull run. The analyst also predicted that ADA will The post Is Cardano Set for a Bull Reversal? Top Signs to Watch as Bitcoin Surges appeared first on Coin Edition .
Cardano’s Network Value to Transactions (NVT) ratio has recently spiked to its highest level since June, signaling a concerning trend: on-chain activity has slowed relative to ADA’s price growth. This heightened NVT ratio is often viewed as a classic sign of overvaluation, and it’s particularly noteworthy in light of ADA’s
Bitcoin’s massive price surge from $65,000 to over $73,000 has positioned it to smash the new all-time high in the ongoing rally. A nice pump can also be seen for major altcoins like Dogecoin (DOGE) and Cardano (ADA) which managed to break out from their resistance levels. The global crypto market surged by another 2%
Analyst predicts Cardano may reach $8 by 2025. Recent price increases tie to Bitcoin's market performance. Continue Reading: Analyst Predicts Cardano (ADA) Could Reach $8 by 2025 The post Analyst Predicts Cardano (ADA) Could Reach $8 by 2025 appeared first on COINTURK NEWS .