Crypto Investors Still Buy Cardano (ADA) in Dip Amid Market Crash

Crypto Investors Still Buy Cardano (ADA) in Dip Amid Market Crash
  • Many investors still buy cryptocurrency Cardano (ADA) in Dip.
  • Bitcoin and other major altcoins show bearish signals. 
  • Cardano partners With Orion Protocol.

CoinMarketCap data shows that Bitcoin and other major altcoins show bearish signals. However, many investors wonder whether this drop is just a correction or not. Despite the crypto market crash, many investors still buy Cardano (ADA) in Dip.

Top 10 Crypto
Top 10 Crypto (Source: CoinMarketCap)

As shown in the above chart, the whole crypto market cap dropped nearly 100 billion from $1.4 billion to $1.3 billion in the last 24 hours. 

Investors Purchase More Cardano in Dip

Cardano is a proof-of-stake blockchain platform that explains its goal is to allow the changemakers, innovators and visionaries to bring about positive global change.Moreover, the Cardano’s entry into the sector is expected to be a game-changer, especially with its cutting-edge blockchain technology features. 

Crypto investors purchase more Cardano (ADA) in dip. However, purchasing the coin in the dip makes the price of ADA increase. According to CoinGecko, the ADA price is at $1.329, at the time of writing.

Cardano (ADA) Price Chart
Cardano (ADA) Price Chart (Source: TradingView)

Added to this, the Relative Strength Index of Cardano is at level 59.84, this indicates that ADA is in nearly overbought state. So, the crypto traders need to trade carefully because major price reversal of the crypto could take place.

Relative Strength Index (RSI) of Cardano (ADA)
Relative Strength Index (RSI) of Cardano (ADA) (Source: TradingView)

Even more, if more crypto investors turn towards crypto, the price of Cardano (ADA) could reach $5 soon. It may also reach high if investors think ADA is a good investment this year.

Cardano Partners With Orion Protocol

Cardano partners with Orion Protocol. However, making Orion Protocol the first liquid aggregator on Cardano  (ADA). 

All-in-all, the partnership helps Orion tap into Cardano’s scalability and to attain Orion’s aim of combining NFT marketplaces and traditional financial markets.

Furthermore, the Cardano platform will soon launch the much-awaited smart contract capability. The upgrade is scheduled for September 2021, which is an event that looks to keep investor interest high.

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.