Cardano Price Forecast – Can ADA Become 2022 Best Performer?
Cardano price forecast is mostly neutral as the altcoin consolidates near the $0.4166 triple bottom support area. ADA has formed a descending triangle pattern on the daily timeframe, indicating a bearish bias among investors.
Cardano was among the few digital currencies hit particularly hard during the second and third quarters' bear market. The value of ADA has fallen dramatically during the previous two months, falling more than 25%.
Can ADA become the best performer in 2022? Let's find out!
Despite unfavorable market conditions, the ADA team has been striving to attract attention from the NFT groups. Unfortunately for Cardano, their efforts were futile because the blockchain couldn't generate significant NFT sales.
According to the graph, Cardano NFT sales have been relatively flat since September 28th. NFT sales skyrocketed on this date. The launch of a Cardano NFT gaming project could explain the rise.
Declining DeFi activity could be another aspect working against ADA's development. There was a significant drop in ADA's TVL (total volume locked) value during the past month. Cardano's total TVL was $135.39 million on August 1st, which peaked at $326 million on March 24th.
As of this writing, its TVL was $75.32 million, down 0.31% from the previous day. The Cardano team can increase the project's survival prospects by focusing on expansion in the NFT and DeFi industries. Bearish indicators currently exceed bullish ones, making a bright future for Cardano seem unlikely.
In a recent tweet, Cardano co-founder and chief architect Charles Hoskinson vented his anger at the XRP community, saying he no longer wanted to interact with them.
After XRP supporters on Twitter started posting about "digging dirt" on the Input-Output
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