Cardano Flops After Chang Hard Fork: Why Is ADA Lagging Behind Solana and DTX Exchange?
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Following the recent Chang hard fork, Cardano (ADA) has struggled with declining active addresses and price stagnation. In contrast, Solana (SOL) gains momentum, while DTX Exchange continues to attract investors in its ongoing presale.
In this article, we will discover why DTX Exchange and Solana (SOL) are thriving while Cardano (ADA) is floundering.
Cardano (ADA) Faces Challenges Post-Chang Hard Fork as Active Addresses DeclineLast Friday marked the fifth day since the successful completion of the Chang hard fork, which was overshadowed by significant sell-offs and a decline in Cardano’s (ADA) price. The situation has not improved and the token now faces challenges that may prevent it from trading higher in the near term.
Using Santiment’s on-chain data, BelnCrypto reported that Cardano (ADA)’s active addresses surged to 54,800 in the first week of September, indicating a delayed positive response to the Chang hard fork and fueling predictions that ADA’s price could approach $0.40.
However, the number of 24-hour active addresses has fallen to 24,900, indicating that fewer users are interested in and actively participating in the Cardano (ADA) ecosystem. This sudden decline indicates that customers are still unconvinced by the network’s enhancements. The price of Cardano (ADA) can fall much more if this trend keeps up.
Solana (SOL) Breaks Key Resistance, Eyes Further GainsSolana (SOL) broke beyond the critical 4-hour barrier at $130 yesterday, leading to a huge spike in the cryptocurrency market. As a result of this breakthrough, investors are now looking forward to the possibility of a price increase in the next months, given the upbeat market environment.
A large number of experts are predicting more increases for Solana (SOL), citing its previous success as evidence of its strength. Prompting optimistic forecasts for the cryptocurrency, investors are focusing on SOL’s capacity to sustain its momentum, thanks to rising demand and interest. Besides, the market appears bullish on Solana (SOL), too, not just the on-chain signals shown by Coinglass.
All of these indicators seem to say that there is even more room for Solana (SOL)’s upward movement. Currently trading near the $135 level, SOL is close to the 4-hour 200 exponential moving average (EMA) at $141.14. At this price, regaining the mark would convince traders that bulls are re-accelerating, since it is a critical strength benchmark for SOL.
DTX Surges Ahead: The Next Big Player in Crypto EvolutionWith its raft of innovative features – and substantial investor interest – it is right up there as a leading cryptocurrency contender Now, DTX Exchange is currently smashing its $2 million presale target priced at $0.06 per token – having already raised over $1.8 million.
Another one is its ‘premium features access’, in which holders of a certain amount of DTX tokens receive VIP treatment, unlocking enhanced analytics and priority customer care. This encourages people to hold tokens and boosts demand for DTX.
Furthermore, the exchange’s user-loyalty system rewards active users over time with DTX tokens, ensuring that regular traders and regular users are rewarded. It’s always great to generate a loyal base of users, and this presale ensures that there’ll be interest in the DTX Exchange platform going forward.
These features, coupled with a successful presale, position DTX Exchange as a promising player in the competitive crypto market, offering both value and utility to its users.
Key Takeaways
Cardano’s (ADA) decline after the Chang hard fork underscores its struggle to retain user engagement, while Solana’s (SOL) gains and DTX Exchange’s (DTX) promising presale illustrate their growing appeal.
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