In 2021 Cardano price has gained over 940 percent and the coin is ranked at number seven on the leaderboard. Although there have been a lot of fluctuations recently, the Cardano system did not stop growing and expanding. While a lot of traders and analysts questioned the future of Cardano the leading cryptocurrencies active addresses have a different story to tell.
Between October and November, the number of active Cardano addresses surged by fourfold. Despite the fact that the cryptocurrency market has lost over $400 billion in market capitalization, the number of addresses using ADA has topped one million.
Cardano’s delegate wallets had exceeded 1,021,952 by the time 2021 rolled around, prompting analysts to expect a bullish run once the current market slump is over.
Cardano’s CEO, Charles Hoskinson, has revealed ambitions to increase DeFi and the altcoin’s acceptance throughout Africa. According to Hoskinson, the year 2022 will be jam-packed with exciting activities to entice consumers to join the altcoin’s network.
Cardano price analysts are bullish on the altcoin, predicting a rally once the current cycle ends. Cardano’s price movement was reviewed by Gert Van Lagen, a crypto analyst and trader. There were no signals of an impending bear market in the altcoin, according to the analyst.
Cardano Price Analysis
Cardano’s price is currently trading at $1.33, and it has dropped 2 percent in the previous 24 hours. The resistance level for ADA is $1.38; if it can break through this level, it may be able to break through to $1.40 and beyond. The third resistance level is at $1.50, while the support levels on the downside are at $1.28 and $1.20. The most recent rejection resulted in a loss of 8.6 percent in the last seven days.