The crypto market has fallen prey to the year’s first and major correction. Which has dwindled the faith of novices in the market. The star crypto remains severely affected, while alts face the relatively lesser brunt. Amongst the top-tier altcoins, Cardano has been holding its position well above its major support. Whilst striding in the trend list of social media platforms.
Cardano has initiated the year on a healthy note. With its environmental initiatives, development, and utility, despite its price being stuck in a quagmire. The environmental initiatives have helped Cardano build protocols to garner the interests of global brands. On the other hand, Cardano has managed to make its way towards the top-10 cryptos by social volume.
Will Cardano’s Metrics Pave Way For The 3rd Position By Market Cap?
A report which is curated by Lunar Crush suggests that Cardano has made it to the top-10 cryptos list by social volume. Successively, the count of social volume is at 26,710, while the social engagements tally to 42.89 M. On the other hand, the total transactions of Cardano is on a steady uphill climb, with the narrative counting 25,438,546.
The active addresses for 24-hours have initiated a leg-up with 138,369 addresses being active. The numbers justify that retailers have been buying the dip, and are preventing the price from plummeting below $1.1. The numbers do instate faith in the midst of bearish market sentiments.
On the contrary, Cardano partners with Pezesha, an African digital lending infrastructure and marketplace for MSMEs. The alliance would build an end-to-end financial operating system for Africa. Moreover, Cardano is also spreading its wings towards the gaming sector. The protocol could welcome a host of newer gaming projects in near future.
Cardano’s Initiative For A Greener World!
Samsung U.S in an alliance with Veritree is all set to plant 2 million trees in Madagascar by the end of 2022. The planted trees will be tokenized, enabling Veritree to track each planted tree individually. According to some sources, Samsung will be getting its NFT issued on Cardano for the plantation initiative. The electronics giant would keep the NFT in its portfolio and can sell or donate the tokens.
Another initiative comes from the end of Meld Labs, the firm is committed to contribute 175,000 trees. In order to support the “Global Impact Challenge” to grow Cardano forest in association with Veritree. The reforestation fund is a collection of the fund raised by Meld Labs, and the donations made by Meld labs and Veritree.
Summing up, the activity of retailers does instill faith in a possible rebound from the current gloom. As investors would prevent the price from plummeting below its major support. However, the bigger picture looks exciting, considering the environmental initiatives and the host of projects being in the pipeline. Collectively, Cardano could possibly retaliate to be the third largest crypto in near future.