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Cardano price is starting the week on a negative note amid widespread declines in the crypto market. The largest cryptocurrency, Bitcoin (BTC), is down 3.6% on the day and trading at $16,041while Ethereum (ETH) is trading hands at $1,116.

The FTX debacle continues to wreak havoc in the space, meaning the price rally could remain muffled in the near term. With investor confidence in centralized exchanges (CEX) waning, conversations around decentralized exchanges (DEX) are gaining momentum.

According to Raphaël Haupt, founder and CEO of Toucan Protocol, the collapse of FTX shows how decentralized crypto control is undervalued but vital. Regulators cannot shoulder the full brunt, which requires embedding governance into the value chain – encoded in smart contracts.

“Using smart contracts and decentralizing protocol governance wherever possible creates more secure and transparent pathways through which the movement of every asset can be publicly verified at all times,” Haupt commented on the FTX crisis.

Cardano Price Predictions as ADA Holds Last Line of Defense

Cardano price stretched its leg again after failing to break above the resistance at $0.44. Although the level at $0.32 was expected to act as support, the price has now fallen to $0.30 in line with the broader crypto markets.

ADA/USD four-hour chart
ADA/USD Four-Hour Chart – TradingView

Cardano price needs to hold firmly at $0.30 to avoid falling towards $0.25. Bulls should err on the side of caution, keeping the moving average convergence divergence (MACD) sell signal in mind, as shown by the red bars that appear.

On the other hand, if ADA is able to consolidate above $0.30 for a few days, then it may make another attempt at $0.44 and higher in the coming weeks. But of course, the crypto markets are not out of the woods yet.

According to CoinMarketCap, there has been a 116% increase in trading volume to over $300 million in the past 24 hours. Investors are still on high alert due to the FTX debacle, and some prefer to convert their crypto assets to dollar-pegged stablecoins like USDT.

Net outflows from exchanges hit new records last week, according to on-chain data released by CryptoQuant. Binance saw around 81,712 BTC worth around $1.3 billion withdrawn from its vaults. Binance CEO Changpeng Zhao (CZ) said a slight increase in withdrawals during market downturns is normal.

Investors will likely continue to adopt decentralized crypto storage platforms to avoid the risks associated with centralized exchanges.

Large volume holders continued to show interest in ADA despite the huge price drop. In the chart below, holders are taking advantage of low-cost ADA to fill their bags. The total number of addresses with 1-10 million tokens increased from 2,374 to 2,398, as recorded by Santiment on November 20.

A similar growth pattern was reflected among addresses with more than 10 million ADA, which currently stand at 477 compared to a 30-day low of 469. This trend shows that investors have confidence in the future of Cardano, despite short-term price corrections.

Cardano Supply Distribution
Cardano Supply Distribution – Santiment

Pre-sales offering massive short-term gains

It may take weeks or even months before the ADA can reach $1 and above. This is why some investors have started considering crypto pre-sales for faster returns. Here are some of the best on the market today.

Trade Dash 2 (D2T)

Dash 2 Trade tops these promising pre-sales. This platform enables the creation and testing of trading strategies allowing traders and investors to make informed decisions in the market. Dash 2 Trade is designed to take your crypto trading to the next level by providing data-driven crypto signals.

D2T is based on the Ethereum network and powers the entire Dash 2 Trade platform. The token provides access to the crypto analysis, signals, and social trading features needed to excel in the market.

Visit the Dash 2 presale now

RobotEra (TARO)

Another Ethereum-based platform, RobotEra (TARO), is a Sandbox-style Metaverse in which players can play as robots and participate in the creation of its virtual world. Its alpha version will go live by the first quarter of 2023, with its ecosystem allowing users to create their own NFT-based lands, buildings and other game elements.

1 TARO is currently selling for 0.020 USDT (it can be bought in USDT or ETH), although this price will drop to $0.025 during the second stage of its presale, which will start soon.

Visit RobotEra now

Calvary (RIA)

Calvary (RIA) is a new game that revolves around collecting and trading NFT-based cards, which can also be used to battle with other players and earn rewards. What sets it apart from other blockchain-based games is that users will be able to play it without having to hold any crypto, which could make it more accessible to more casual gamers.

Within its ecosystem, RIA will be used for purchasing in-game items and for staking, giving it a strong use case within its ecosystem. The token’s pre-sale raised just over $1.8 million and is currently in its fourth stage, during which 40 RIA can be obtained for 1 USDT.

The current price of RIA is $0.025 and it will drop to $0.03 in the next stage of the presale.

Visit Calvaria now



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