- Cardano’s price key resistance is at $0.3551, with bullish momentum building for a potential breakout.
- Rexas Finance’s RWA tokenization strategy is gaining traction, attracting institutional interest and positioning for rapid growth.
- Volatility remains high in Cardano’s staking ecosystem, with the FTSE Staked TR Index down 40.09% in the past year.
Dan Gambardello, a crypto figure, recently predicted that Cardano (ADA) could hit $0.50 by the end of October. If not, he promises to give 1,000 ADA to one lucky commenter. His tweet has sparked excitement, with many watching the ADA/USDT pair closely.
At $0.3545, Cardano trades below the $0.3551 resistance level shown by the 50-day SMA. Following the dip, a positive trend is indicated by the 20-day Exponential Moving Average (EMA), which is currently at $0.3489. Furthermore, the price of ADA has fluctuated in relation to these moving averages, indicating that upward momentum may be about to occur as it attempts to break through the barrier.
Source: CryptoRank
Cardano’s Market Movement
Moreover, the FTSE Cardano 100% Staked TR Index provides insights into Cardano’s staking ecosystem, tracking both spot price returns and staking rewards. Updated daily, this index complies with EU and UK BMR regulations.
The past year has been tough for ADA stakers, with the index down 40.09%, mirroring the broader market decline. However, volatility remains high at 91.58%, reflecting the unpredictable nature of Cardano’s market performance.
Rexas Finance and RWA Tokenization
On another front, Rexas Finance has grabbed the spotlight in the Cardano ecosystem. A Cardano insider has reportedly acquired equity in the new platform, signaling a growing interest in RWA (Real-World Assets) tokenization. Rexas Finance aims to simplify tokenizing physical assets, making them tradable as digital currencies. Besides, this strategic shift could disrupt traditional asset management, offering liquidity solutions that appeal to both retail and institutional investors.
Moreover, Rexas Finance’s rise has analysts bullish, predicting long-term growth potential. Hence, the insider’s move indicates confidence in the platform’s ability to gain a foothold in the broader crypto landscape.
The platform is positioned for fast expansion as the RWA tokenization trend grows. Cardano’s recent market activity, combined with Rexas Finance’s growing role in the tokenization sector, shows a promising future for ADA.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
