The post Cardano Price Holds Firm Despite Holiday Dip: What’s Next? appeared on BitcoinEthereumNews.com.

Cardano (ADA) saw notable accumulation by bullish investors on Christmas Day. Though driven by recovery momentum in the broader crypto market, Cardano price rally could not sustain and ultimately fell short. Starting the day at $0.93, ADA faced bearish pressure and dropped to $0.86 by press time. Bulls attempted to defend the price with a brief surge to $0.94, but the move was swiftly countered by bears, leading to a mild pullback and a consolidation phase. The price action suggests that while bulls lacked the strength to sustain momentum. Despite that, the Cardano price is holding above key support levels, preserving its bullish structure despite the holiday dip. Over the past week, Cardano price has been one of the biggest underperformers among the top ten cryptocurrencies. However, on-chain data reveals that over 54% of ADA holders remain in profit, even amid consolidation following its sharp rally earlier in December. – Advertisement – The resilience of ADA holders signals a strong belief in the asset’s long-term potential. This optimism is likely fueled by Cardano’s robust fundamentals, as highlighted in Messari’s report. This underscores the growing strength of DeFi and stablecoins within its ecosystem. Investors appear confident in ADA’s ability to weather short-term market volatility. Cardano Makes Major Strides in DeFi and Stablecoins Cardano (ADA) has demonstrated notable progress, both in its price trajectory and ecosystem development. In the ecosystem, significant advancements in its decentralized finance (DeFi) and stablecoin sectors have been made. According to a recent report by blockchain analytics firm Messari, Cardano’s Total Value Locked (TVL) grew by an impressive 19% quarter-over-quarter, reaching $620 Million. This reflects increased trust and heightened activity within its DeFi ecosystem. Among the key contributors to this growth is Liqwid, a decentralized application (DApp) on Cardano. This DApp saw its TVL soar by a remarkable…

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Filed under: News - @ December 26, 2024 9:09 pm