Sunday, July 21, 2024

Cardano’s price has risen by more than 30% in just seven days following the launch of the Metaverse project.

The recent weeks have been quite volatile for the crypto world. Many considered the falling prices of various coins to be the confirmation of the fact that crypto is a bubble. However, things have started to pick up again, especially for Cardano. Cardano is a blockchain platform that has its own coin, namely the ADA. Recently, ADA has jumped around 30 percent in its value. The steep rise comes as a surprise as Cardano’s market presence was almost nil in the last few months. In fact, it had also been criticized for not being dominant enough in the NFT space. However, this rise materialized just after the launch of the Metaverse. It seems that there is a clear connection between the two incidents.

The Connection

It seems that Metaverse helped bring into existence various projects such as Cardano Kidz, Clay Mates, Yummi Universe, and whatnot that helped Cardano launch its own NFTs. Experts that are in favor of Cardano and consider it to be the next big thing have predicted that it could pose serious competition to Sandbox.

Conclusion

How far Cardano goes with the help of the Metaverse is something that only time will tell. However, one thing is for certain. As the Metaverse helped Cardano bounce back from a slump, it will definitely help boost other blockchain platforms and coins too. Thus, there will be ample projects such as Pavia and Clay Mates that will be in competition with Cardano. The road ahead is not as smooth for Cardano as many believe it to be.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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