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In an unprecedented move, Cardano (ADA) charts an impressive 880% growth, propelling its total value locked (TVL) to $438 million. Market analysts anticipate ADA to surge to $0.80, backed by robust on-chain data.
Simultaneously, the decentralized finance (DeFi) space witnesses the emergence of Meme Moguls, introducing the MGLS token presale. This article explores the remarkable rise of Cardano and delves into the exciting prospects of the Meme Moguls ecosystem.
Cardano bullish surge towards $0.80
Cardano (ADA) is experiencing an extraordinary rally, with its total value locked (TVL) skyrocketing to $438 million. This staggering 880% growth since the beginning of 2023 has positioned ADA as a dominant force in the decentralized finance (DeFi) landscape.
Despite a 1.17% dip in its current price of $0.6257, market analyst Ali Martinez remains bullish. Martinez points to ADA trading above $0.6 as a key factor, allowing the coin’s bulls to apply pressure for further upward movement. With little resistance observed, the path seems clear for ADA to potentially reach $0.80, marking a significant milestone for the cryptocurrency.
#Cardano trading above $0.60 could be just what the bulls dreamed! With no significant resistance barriers in sight, the path looks clear for $ADA to move higher.
The next key hurdle is between $0.80 and $1, opening a window for $ADA to shine. pic.twitter.com/X3d21Opg2E— Ali (@ali_charts) December 14, 2023
The bullish outlook for ADA is further substantiated by on-chain data, revealing a lack of resistance to the cryptocurrency.
According to Global In/Out of the Money metrics from IntoTheBlock, 57.16% of ADA holders are currently profitable, amounting to 2.54 million addresses. Notably, only 41.62% of addresses (1.85 million) are at a loss, and 1.22% (54,370 addresses) are at breakeven.
This profitability outlook, combined with Cardano’s whale count and transaction volume, paints a favourable picture of ADA’s future trajectory. Over the past 24 hours, large transactions for Cardano reached $23.07 billion, showcasing an 8.37% increase.
Meme Mogul: the new crypto project stealing the show
Amid Cardano’s remarkable ascent, the spotlight is shifting to the emergence of Meme Moguls and its associated MGLS token presale.
Meme Moguls introduces a play-to-earn game, immersing users in the fantasy meme market trading world. The MGLS token, integral to the Meme Moguls ecosystem, offers governance rights, staking opportunities, and access to exclusive features.
The presale, a key phase in Meme Moguls’ journey, aims to attract early participants and contributors. With a strategic roadmap encompassing game development, community empowerment, and major partnerships, Meme Moguls sets the stage for a unique and entertaining experience within the meme trading space.
Conclusion
As Cardano solidifies its position in the DeFi space, the emergence of Meme Moguls presents a symbiotic relationship. Both ecosystems thrive on innovation, community engagement, and strategic partnerships.
The robust growth of Cardano creates a favourable environment for projects like Meme Moguls to flourish, tapping into the expanding crypto landscape. The MGLS token presale, coinciding with Cardano’s bullish momentum, adds a layer of excitement to the crypto narrative. Together, Cardano’s meteoric rise and Meme Moguls’ promising entrance underscore the dynamic and evolving nature of the cryptocurrency industry.
The post Cardano (ADA) surges 880%, eyes $0.80; Meme Moguls presale steals spotlight appeared first on Invezz
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