The post Cardano Price Slides 10% as Crypto Market Falls But Investors Are Buying This Coin for the Next Bull Run appeared first on Coinpedia Fintech News
The price of Cardano (ADA) has fallen by 10% since yesterday, reflecting a slump in the wider crypto market and testing investors’ resolve. This decline comes after a volatile few days for digital currencies, with Bitcoin (BTC) and Ethereum (ETH) also pulling back. Despite this, TG.Casino (TGC), a brand-new crypto gambling token, is attracting investor interest – and is being touted as a promising pick for the next bull run.
ADA Struggles as Price Lags Behind Ecosystem Growth
Despite Cardano’s impressive performance in recent months, marked by its Total Value Locked (TVL) rocketing by 198%, its native ADA token has experienced a sell-off.
This sell-off is partly due to profit-taking, as investors evaluate their portfolios in response to the broader market’s pullback.
However, a report by Messari has highlighted that even though ADA’s price is struggling at present, Cardano’s ecosystem is flourishing – especially in the DeFi sector.
Over half of Cardano’s TVL now stems from DeFi applications launched in the past year.
The synthetic asset platform Indigo Protocol and its introduction of the iETH token have played a significant role in this growth, enabling users to hedge against ADA’s price volatility.
Unfortunately, ADA’s price seems to be struggling to keep pace with these advancements, having rejected the $0.39 level twice in the past seven days.
Numerous Factors Combine to Create Cautions Atmosphere in Crypto Market
The pullback in Cardano’s price isn’t an isolated event but part of a broader trend affecting the entire crypto market.
Several factors are contributing to this downturn, including the fact that JPMorgan analysts have raised concerns about the underlying strength of the recent rally.
These analysts suggested that its foundations might be less robust than investors had previously believed.
Another factor contributing to the negative sentiment is a recent study from the Bank for International Settlements (BIS) on stablecoins, which cast doubt on their reliability.
Additionally, a high degree of profit-taking is likely taking place after a period of sustained bullish momentum.
These factors have contributed to a cautious atmosphere, leading to sell-offs across various cryptocurrencies, including Cardano.
It is still unclear whether the sell-off will continue in the long term, but investors are adopting a wait-and-see approach for now.
TG.Casino Emerges as Next Bull Run Token After Limited-Time Presale Hits $2.2m Raised
Despite the broader market pullback, TG.Casino (TGC) has emerged as a project attracting investor attention ahead of the next bull run.
This new crypto casino platform has already raised over $2.2 million in its presale, demonstrating strong market interest.
Integrated seamlessly with Telegram, TG.Casino simplifies investors’ entry into the crypto gambling space, making it accessible to everyone.
Its appeal is further enhanced by offering anonymous wagering without needing KYC checks, ensuring privacy and ease with lost-cost deposits and near-instant withdrawals.
TG.Casino also stands out with its on-chain staking mechanism, allowing investors to earn yields of 247% per year on their TGC holdings.
The platform even includes a “buyback-and-burn” mechanism, where casino profits are used to repurchase TGC tokens from the open market and periodically burn them.
This deflationary approach makes the remaining TGC tokens scarcer and could potentially drive up value over time – assuming demand also rises.
Early investors can purchase TGC tokens through the presale for $0.16 at the current stage, although this price will only be available for four more days.
The presale’s hard cap is also set at just $5 million – meaning it is now almost halfway complete.
Eric Cryptoman, a prominent figure in the crypto space, recently endorsed TG.Casino, praising its extensive game selection and seamless user interface.
He also highlighted its unique features, such as its gaming license, which add further credibility to the platform.
All in all, with the crypto casino sector now seeing rapid growth, TG.Casino could be a promising addition – meaning TGC is a token investors are now accruing ahead of the next bull run.
Investors can buy TGC tokens at tg.casino using ETH or USDT.