As some coins trade in the red, while others are in the green, the cryptocurrency market is moving sideways. The market is still recovering from the challenging year in which the majority of its assets, including Cardano (ADA), experienced considerable losses. The current price of ADA is $0.25, a decrease of 0.04% from yesterday’s closing price.
ADA is prepared for at least some recovery, even though it feels challenging at the moment. The pivotal level near $0.265 is both the monthly S1 support level and a historical pivot from December 24, 2017, which is currently a resistance level.
ADA is still trading in an oversold region on the Relative Strength Index (RSI), but it is beginning to falter. This shows that there are fewer chances of an opportunity for a return to $0.265 by Christmas.
A look at Cardano’s Milestones in 2022
As 2022 comes to an end, the Cardano Foundation took to Twitter and shared the important highlights and milestones of the dramatic year. The number of transactions hit 56.9 million, up 139% from 2021, according to the graphic that was shown. The total number of wallets climbed by 47% to 3.80 million at the same time as the number of delegated wallets rose by 27% to 1.24 million.
Cardano is one of the top three networks in terms of daily development activity, according to data from GitHub. On the Cardano blockchain, 1,151 projects are currently in various phases of development, according to the most recent information published by IOG. 111 projects have been started so far.
The number of Plutus scripts has increased by 394% to 4445 since 2021, and the number of native tokens has increased by 192% to approximately 7.3 million. More policies have also been minted this year than last.