ADA investors waiting for “midnight” miracles might want to read this because…

  • Cardano launches a new product called Midnight
  • Weighted sentiment towards Cardano continues to rise along with interest in NFTs

Cardano A lot has happened apart from the ongoing research and development in the cryptocurrency market. Platform The team has continued to build despite the state of the market and has launched a new blockchain for confidentiality. Charles Hoskinson announced the same thing via Twitter.

Read Cardanos [ADA] predict the price 2022-2023

Lots going on…

The Cardano founder said that Cardano will launch a new product called Midnight. It will be a privacy-based blockchain that protects sensitive commercial and personal data.

Continuous development and releases from the development team can have a positive impact on the perception of the platform. Instead of this launch, the platform’s social mentions increased by 18% in the past week, according to LunarCrush.

Also, Cardano’s heavy sentiment It also saw an exponential rise. As shown in the image below, the weighted sentiment towards Cardano has been very positive over the past week. This may be due to Cardano having little exposure to FTX, as ADA was the only major cryptocurrency not listed on the FTX exchange.

Source: feeling

The positive sentiment may have also affected the state of Cardano’s NFTs. According to information from conquestThe trading volume of NFTs is up 57.98% in the last 30 days. Additionally, the number of NFTs sold increased by 37% over the same period.

Blue chip NFTs on the Cardano network have also performed well. As shown in the image below, all of the premium chip NFTs, with the exception of Ape Society, have shown growth both in terms of floor price and volume.

Source: Stocktwits NFTs

However, despite the growing interest in Cardano, the network’s activity continued to decline.

Tricky way forward

From the image below, you can see that the number of daily active addresses on the network has dropped dramatically in the past week. Its speed also decreased, indicating a decrease in the frequency with which ADA was transferred from one wallet to the other.

Source: feeling

In addition, according to information from my tracks, Cardano’s volatility increased by 188% during the month of October. So invest in ADA It might be more dangerous than usual, especially now.

Source: Messari

at the time of publication, Cardano It is trading at $0.324 and its price is down 1.11% in the past 24 hours. However, trading volume strengthened at the same time, growing by 1.44% over the same time period.

Leave a Reply

Your email address will not be published. Required fields are marked *