Over the past few months, the cryptocurrency market has been bleeding. After a rise to new heights in 2020 and a portion of 2021, it was soon followed by crashes that made some investors wish they would have sold earlier. Despite this, some say that the price of promising cryptocurrency tokens such as Cardano (ADA) and Solana are bound to skyrocket in the future. This pattern has been seen with the market in general as it follows a repeating up-down trend. With this in mind, many whales have chosen to “buy the dip” as they call it in an effort to take profits in the far future.
A lot of people bought Cardano when it was spiking to values of up to Php 155 (from Php 7 in late 2020), it soon tumbled down to Php 45 or whereabouts causing people to sell in a panic. Knowing that, most of the people who are still currently invested in the coin are either those who still have faith in it or those who don’t really check their cryptocurrency.
According to a Coindesk report, a special category exists for those who hold 1 to 10 million Cardano (ADA) tokens, and consumers within this category are rapidly buying up from those who are panic selling. They’re getting it for quite cheap anyway. The balance held by this special category of people rose to $12 billion in ADA, which is a 41% gain in just a matter of a few months. These believers are hoarding for real.
There is sufficient reason to believe that Cardano (ADA) could be on its way up again. It’s always used smart contracts as its selling point, but they’re bringing even more features and use cases for the token in 2022. This includes partnerships to accelerate transactions performed on the network, as well as make it more accessible to developers without compromising safety.
Most people we know are still holding Cardano (ADA) to this day, and are praying for its success. See you on the moon, my friends.