Crypto price analysis for Cardano(ADA) and Solana(SOL)

After a great rebounding stint, the crypto market showed signs of slowing down, and we would understand what the price analysis for Cardano (ADA) Solana (SOL) looked like on February 12 2023.

At the time of writing, Charles Hoskinson’s Cardano (ADA) is trading at US $0.3668 after seeing a jump of 2.085 in the past 24 hours . ADA, however, saw a decline of 8.34% over the past seven days and currently has a market capital of over 12 Billion.

For a long time Cardano has been compared with Ethereum and has even enjoyed a lot of attention from crypto enthusiasts for its long vision and transparency. Cardano allows staking your ADA in a liquid manner, thus allowing one to move around their ADAs instead of locking it

With the current market trend, things look pretty good for ADA as also , a major upgrade called ‘Valentine’ is expected to go live for the Cardano community on 14 February(Valentine’s Day). The upgrade will help to secure cross-chain dApp development on the Plutus platform and also improve the network’s objective of blockchain interoperability.

It is also predicted that the crypto community will bring ADA to trade at an average price of $0.43 on February 28, 2023. Reports also suggest since January 2023, ADA addresses holding between 1 million and 100 million grew by 36%, thus recording a growing whale activity.

All in all, a good time might await Cardano.

As for Solana (SOL), the crypto is currently trading at US $20.91 after gaining 2.79% in the past 24 hours. But SOL also slowed down 14.29% over the past seven days with a current market capital of over 7 Billion. With the bearish price value, one can expect a short term recovery as buyers are expected to buy the dip, hence improving its market value.

PricePredictions, a crypto tracking platform has predicted that the price of Solana on February 28, 2023, would reach $24.56.

The 11th largest digital asset, SOL, also saw a 83% rise in the number of developers on the blockchain in a single year, accounting for more than 20,000. Solana is currently working on Marinade (MNDE), which is a liquid-staking derivative that is trying to become the largest decentralized finance (DeFi) protocol on Solana. Solana does look promising!  

The global crypto market cap is $1.02 Trillion after witnessing a growth of 0.71% over the last day.

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