Cardano

when

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
A new debate erupted in the&nbsp;<a href="https://u.today/cardano-ada-reclaims-top-10-spot-as-price-shoots-11">Cardano (ADA)</a> community when prominent contributor and ADA staking pool holder&nbsp;<a href="https://x.com/richardmccrackn/status/1835057470969954678?s=46&amp;t=WcuOKMo62Zy4eG9Be-uY1A">Rick McCraken</a> asked his subscribers for their opinion on the Cardano ADA token domination chart. In particular, the chart shows that for the last two months since July, the indicator showing what share of the cryptocurrency market ADA occupies has found support at the level of 0.6%.
McCraken's question about what this performance might mean for ADA's market share did not get a clear answer as enthusiasts had different ideas. Some thought ADA had bottomed out, while others said the token's current position might signal a low point in its overall performance.
Even though there wasn't a consensus, there was a range of cautious optimism mixed with skepticism about ADA's future.
As for the contributor himself, ADA dominance looks like it has been bottomed out since July, and such a rebound in support looks like a good indication of it.
Someone approached the answer more cautiously, pointing out that we should first wait for growth and retest of the 0.77% zone, and then retrospectively evaluate the bottom or not. To this McCraken, however, answered that “the bull market might fix it.”
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="72535bec-4770-4bef-8e51-b39702dfa329" src="https://u.today/sites/default/files/inline-images/ADA.D_2024-09-15_19-08-56.png">Source: <a href="https://www.tradingview.com/x/qeUiJ5j9/">TradingView</a>
With&nbsp;<a href="https://u.today/cardano-creator-shuts-down-ethereum-feud-grow-up-and-move-on">ADA</a> holding steady at 0.6%, the focus now turns to whether a general bull trend in the cryptocurrency market can drive the token higher, signaling the long-awaited recovery for Cardano.
In the last couple of months&nbsp;<a href="https://u.today/cardano-ada-upgrade-ogmios-v670-just-landed-whats-new">Cardano</a> lost its position in the top 10 ranking to Tron and TON, and discussions about its future started emerging in a more worrying tone than previously.
For now, the community remains watchful, waiting for a more definitive test of ADA’s resilience.

Cardano Bull Run Anticipated as ADA Community Identifies Bottom

U_Today

Other articles published on Sep 15, 2024

Whale Shock: Major Investor Sells Altcoin at a Loss!

These Are the Latest Trends in the Crypto Staking Landscape

MAGA Cat: The Meme Coin That Could Rival DOGE With Trump and Elon Backing

Avalanche (AVAX) Expands into Traditional Finance with Tokenization

XRP and Solana: The Cryptos Set to Lead in 2024

Musk Moon Solana Memecoin Will Explode Over 18,000% Before Exchange Listing, As SHIB and DOGE Und...

Join our free newsletter for daily crypto updates!