Cardano's Future: Can ADA Overcome Declines and Soar to New Heights?
TL;DR Summary
Cardano's decentralized exchange (DEX) daily volume has surged to over 23 million ADA, but this has not prevented the price of ADA from continuing to decline. Despite increased DEX activity, the total value locked (TVL) in Cardano's DeFi sector has dropped from $430 million to $230 million, and interest in Cardano's NFTs has waned. Indicators such as the Relative Strength Index (RSI) and Chaikin Money Flow (CMF) suggest a bearish trend, with ADA trading at $0.4489 and showing signs of declining velocity and profitability.
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