Cardano’s DeFi ecosystem has seen significant growth in the past month, despite its price struggles in May. The latest data shows that the total value locked (TVL) in Cardano has grown to its highest level in over a decade, reaching more than $202 million. Additionally, the number of active users has jumped to over 81,930, a 20% increase from last month. This indicates that the fundamentals of Cardano are strong and the current price underperformance is due to the bearish market.
Cardano Price Prediction for June: Is ADA a Buy or Sell?
The daily chart of ADA reveals that the coin has dropped below the important level of support at $0.42 and is consolidating around the 50-period Moving Average. This is a bearish sign, indicating that the coin may drop to the next support level at $0.298. However, the bullish view will remain valid if ADA breaks above the double-top pattern at $0.422.
How to Buy ADA?
eToro
eToro is a great choice for those looking to buy ADA. It offers a wide selection of cryptocurrencies, including Bitcoin, Ethereum, XRP, and more, as well as crypto/fiat and crypto/crypto pairs. eToro also allows users to connect with other investors and copy their trades. However, it is important to note that cryptoasset investing is unregulated in some EU countries and comes with no consumer protection. Your capital is at risk.
Public
Public is an investing platform that allows users to invest in stocks, ETFs, crypto, and alternative assets like fine art and collectibles. It provides users with access to professional-level tools, services, and insights to help them make better investments. Crypto trading on Public is served by Public Crypto LLC and offered through APEX Crypto. As always, it is important to be aware of the risks involved before trading.
