Cardano (ADA) Price Sets Sail For Rebound, Is $0.65 Next Stop?

The Cardano ecosystem has been exhibiting some core signs of network growth, but the native coin ADA ADA $0.59 24h volatility: 1.6% Market cap: $21.49 B Vol. 24h: $634.21 M does not give off the same sentiment. Within the last seven days, ADA has lost almost 13%, causing the coin to trade at around $0.60. There have also been substantial losses in long liquidation amid a general shift in crypto market volatility.

Mixed Sentiment in the Cardano Ecosystem

ADA traded at $0.6021 at press time, following a 0.71% price drop over the last 24 hours, per CoinMarketCap data. From $0.70 on June 12 to this current level, this top altcoin has invariably lost almost 13% in the trailing 7-day period. The price decline follows some liquidations in the crypto market, predominantly affecting long traders.

On June 13, more than 241,696 traders suffered liquidations, with the dollar amount hitting $1.14 billion. Some of the most affected digital currencies were Bitcoin BTC $104 396 24h volatility: 0.7% Market cap: $2.08 T Vol. 24h: $22.28 B , Ethereum ETH $2 511 24h volatility: 0.8% Market cap: $303.40 B Vol. 24h: $12.35 B , Cardano, Solana SOL $144.0 24h volatility: 1.6% Market cap: $76.08 B Vol. 24h: $3.88 B , and XRP XRP $2.15 24h volatility: 0.2% Market cap: $126.83 B Vol. 24h: $2.07 B .

Based on historic aggregated liquidation data, almost $50 million in long positions were cleared off the market around the $0.60 price zone for Cardano. Meanwhile, its market capitalization is $21.26 billion amid the plunge in price. Despite this outlook, ADA trading volume still looks encouraging.

This metric has increased by 30.12% in the last 24 hours and is now at $776.2 million. This shows that there is still positivity around the Layer-1 project.

In addition to the positive sentiment surrounding the Cardano ecosystem, the network now hosts over 5.4 million wallets. Notably, over 100,000 new wallets have been added within the last 60 days alone.

TapTools summed up the number of new wallets that Cardano has gained in six months to approximately 400,000.

A positive twist fueling ADA sentiment hinges on Ford Motor Company, one of the Fortune 500 companies, exploring decentralized legal data storage on the Cardano blockchain. Precisely, it has teamed up with Iagon and Cloud Court to launch a Proof-of-Concept (PoC) focused on decentralized legal data storage.

This new interest in Cardano could ignite a new high for ADA in no time, likely pushing the coin to $0.65 and beyond.

Take a Slice of the SUBBD Presale

As Cardano’s ecosystem is enjoying some network growth, the SUBBD project is gaining traction. Designed as an AI agent platform, SUBBD offers users staking rewards as high as 20%. It is being touted as a token with the capacity to power the next generation of content creators.

You should not miss an ongoing crypto presale on its website. Participants may see substantial capital boost with a discounted price of SUBBD going for $0.0557. Interested entities have barely a few more hours to participate in the presale.

SUBBD FOMO or Real Deal

The SUBBD protocol currently boasts a thriving network of over 250 million users, granting unparalleled access to the world’s top influencers. SUBBD has successfully secured $677,887.65 from early investors.

Here, creators and fans have guaranteed access to Web3 tools to connect directly, share exclusive content, and unlock new forms of engagement. They participate in all these while taking advantage of native token incentives and lower fees.

Current Presale Stats:

• Current price: $0.0557
• Amount raised so far: $677,887.65
• Ticker: SUBBD

High-yield return seekers may want to consider this token, as it has the fundamentals to attract high adoption and growth. VIP investors may enjoy even more exclusive staking benefits.

To participate in the presale, interested entities can either complete a purchase using their cards or via crypto assets.

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