Top 10 cryptocurrencies in the past 48 hours. Source: Messari
What makes SundaeSwap bullish for ADA?
SundaeSwap ‘s official DEX launching announcement included evidence of greater demand for ADA tokens in the future and this is typically a bullish sign for investors .
The moment we ‘ve all been waiting for has ultimately come !
We ‘re delirious and proud to share that SundaeSwap and the ISO will be launching on the even of Thursday, January 20th ( EST ) !
Check out the article below ! hypertext transfer protocol : //t.co/8oDYU6i3k9 pic.twitter.com/upgNZx2xH2— SundaeSwap Labs (@SundaeSwap) January 15, 2022
The DEX platform besides introduced its native SUNDAE nominal and discussed three ways to distribute it among users : via an initial stake offer ( ISO ) round, succumb farm and direct exchange-based conversion. Discussing the ISO round, SundaeSwap explained that it would distribute 5 % of the sum SUNDAE add via five epochs. Each epoch represents a five-day wages cycle wherein users delegate their adenosine deaminase tokens into a impale consortium. “ If you want to make sure you qualify for all five ISO reward rounds, you must have ADA staked with eligible SPOs [ Stake Pool Operators ] before 21:45 coordinated universal time on January 25, ” the DEX ‘s announcement read, adding :
“Your reward will be calculated based on the snapshot taken at that time, and at the same time at each subsequent epoch boundary.”
meanwhile, the render farming program saw SundaeSwap adding four ADA-based liquidity pools : SUNDAE/ADA, LQ/ADA, WMT/ADA and CARDS/ADA. The DEX besides allocated 500,000 SUNDAE per sidereal day from January through June.
ADA to $2?
The SundaeSwap-led bounce pushed ADA toward its 100-day exponential move modal ( 100-day EMA ; the gloomy roll ) near $ 1.57 .ADA/USD daily price chart featuring 100-day EMA resistance. Source: TradingView Additional bullish cues have besides been coming from the anticipate launch of Pavio, Cardano ‘s first metaverse undertake. Pavio is a Decentraland-like virtual estate startup with some 100,000 land parcels, each being minted as a unique nonfungible token ( NFT ) with coordinates. The advent of the Metaverse in the crypto sector in the past months and Cardano ‘s involvement in it may boost demand for ADA promote. Related: Meta poaches staff from Microsoft and Apple for metaverse plans This raises the hypothesis for Cardano to close above its 100-day EMA resistance wave, thus shifting the next top target toward the 200-day EMA near $ 2. conversely, risks of an overall crypto market crash led by the U.S. Federal Reserve ‘s taper programs this class could spoil ADA ‘s bullish apparatus to an extent.
“ While ADA is far from its peak, the prospect of obtaining more scalability as character of its 2022 roadmap explains why investors appear to be betting large on Cardano. This decimal point was besides noted by Liam Bussel, the headman market military officer of Cardano-native DEX WingRiders in a statement to Cointelegraph. Bussel said ,
“In a world characterized by high performance and novel use cases, Cardano will be able to keep up and lead the pack. As a result, a weekly closing above $1.80 is likely, barring any last-minute profiteering by sellers.”
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