Cardano

altFINS

Token

The Graph

<p><a href="https://twitter.com/cryptorecruitr/status/1762312600480628876" target="_blank" rel="noopener noreferrer nofollow"></a>Cardano, the leading smart contract platform developed by IOHK, has seen a notable resurgence in adoption momentum over recent weeks. This revival, combined with supportive technical alignments, has analysts betting on an imminent recovery back towards the crucial $1 price level.</p>
<p>Industry analyst <strong>Dan Gambardello</strong> recently <a href="https://twitter.com/cryptorecruitr/status/1762312600480628876" target="_blank" rel="noopener noreferrer nofollow">tweeted</a> that – “Cardano won’t be below $1 much longer.”</p>
<p>Data from Cardano Blockchain Insights spotlights Cardano’s improving adoption by showcasing the huge influx of new wallets created on-chain over the past month.</p>
<h2 class="wp-block-heading" id="new-wallet-growth-explodes-higher">New Wallet Growth Explodes Higher</h2>
<p>According to data from the monitoring resource <a href="https://lookerstudio.google.com/u/0/reporting/3136c55b-635e-4f46-8e4b-b8ab54f2d460/page/k5r9B" target="_blank" rel="noopener noreferrer nofollow">Cardano Blockchain Insights</a>, there was a notable increase in new Cardano wallets. The number surged from 1,706 on February 22 to 3,227 on February 23.</p>
<p>While growth subsequently slowed from this initial spike, consistent network usage expansion persists according to the platform’s broader metrics. Compared to January levels, total registered Cardano wallets have climbed from 4.5 million to nearly 4.6 million as of February 25th.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="839" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-1024x839.png" alt="" class="wp-image-444230" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-1024x839.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-300x246.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-768x629.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-1536x1259.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-2048x1678.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-183x150.png 183w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-100x82.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-427x350.png 427w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991-788x645.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-991.png 598w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Sustained adoption recovery dispels fears of users abandoning the network amid the bruising bear market. Instead, signals point to solid underlying demand supporting higher valuations.</p>
<h2 class="wp-block-heading" id="bullish-technicals-back-price-recovery">Bullish Technicals Back Price Recovery</h2>
<p>On the price action front, analytics platform <strong>altFINS</strong> remains firmly bullish on Cardano. Their latest analysis summary states:</p>
<p>“Price is in an Uptrend. Following a bullish breakout from a Channel Down pattern, price has reached our target of $0.65 for a 17% gain.”</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-1024x573.png" alt="" class="wp-image-444222" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-768x430.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-2048x1147.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990-788x441.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-990.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>With <a class="wpil_keyword_link" href="https://captainaltcoin.com/cardano-ada-price-prediction/" title="ADA" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">ADA</a> successfully rallying into its next resistance zone around the $0.65–$0.68 area, altFINS awaits confirmation of either a) a decisive breakout above $0.68 to extend the uptrend, or b) healthy pullback nearer $0.46 to allow re-entry for continuation back towards recovery highs.</p>
<p>But critically, the existing series of higher lows and higher highs remains intact, signaling sustained buying interest exists to fuel further upside, rather than sentiment flipping negative.</p>
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<h2 class="wp-block-heading" id="return-to-1-in-sight-with-tailwinds-building">Return to $1 in Sight with Tailwinds Building</h2>
<p>While the brutal crypto bear market dealt intense pain to ADA holders, tangible usage growth combined with Cardano’s ongoing development pipeline provides causes for renewed optimism.</p>
<p>With altFINS citing that ADA remains in a weekly-monthly-quarterly uptrend across all timeframes, technical and on-chain data align to suggest Cardano’s recovery may only now be getting started. A return to the crucial $1 valuation level that previously strongly supported the price appears increasingly achievable.</p>
<p>If adoption metrics and trading activity continue trending positively, ADA bulls have reasons to cheer for what may come next. According to the latest data, ADA is trading at $0.6256 at press time with a 6% surge in the last 24 hours.</p>
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<p>The post <a href="https://captainaltcoin.com/new-cardano-wallets-surge-analyst-says-ada-wont-be-below-1-much-longer/" rel="noopener noreferrer nofollow">New Cardano Wallets Surge, Analyst Says ADA Won’t Be Below $1 Much Longer</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

New Cardano Wallets Surge, Analyst Says ADA Won’t Be Below $1 Much Longer

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