September was largely uneventful for the majority of assets in the cryptocurrency market. But for the development team at Cardano (ADA), the past month has been outstanding. Thus, it has placed itself at the top of all altcoin projects based on developer efforts. Besides, the analyst To John Isige According to ADA, he is gearing up for a run.
Cardano outperformed other altcoin projects in the development event!
In particular, according to the statement of crypto analysis platform CryptoDep, Cardano recorded 572 events in GitHub repositories in September. Thus, the altcoin project took the leading position in the development leaderboard among all Blockchain teams.
Polkadot (DOT), which closely follows Cardano in development activities, witnessed 501 GitHub events throughout September, while Chainlink (LINK) ranks third with 388 events in its repositories. Solana is followed by Hedera (HBAR) with 358 events and Cosmos (ATOM) with 338 events. Additionally, according to data from crypto and Blockchain analysis platform Santiment, Aptos (APT) recorded 248, Avalanche (AVAX) 242, IOTA (MIOTA) 219, Radix (XRD) 167 GitHub events, while the MultiversX (EGL) team recorded 162 events in GitHub repositories.
Three standout altcoins: AAVE, CRV and ADA
Santiment also mentioned ADA among tokens like AAVE and CRV that are likely to benefit from a short-term profit window after Bitcoin surged above $28,000 on Monday. This means that if interest in the altcoin project increases, “potential splits” are likely. Santiment shared the following:
There were several price recoveries during the visit, with Bitcoin climbing above $28,000 to open October. And three altcoins in particular (AAVE, ADA, and CRV) had opportunists moving coins during the short profit window. Potential separations may be approaching.
📈 There were several price rebounds during #Bitcoin‘s visit above $28K to open October. And three #altcoins in particular ( $AAVE, $ADAand $CRV ) had opportunists moving coins during the short profit window. They could have potential decouples coming. https://t.co/E14ek3ypwR pic.twitter.com/1CoVyxBwNI
— Santiment (@santimentfeed) October 2, 2023
Cardano in action
cryptokoin.comAs you follow from , the Cardano team worked hard to create its network in September. In this regard, it has added a multi-delegation feature to its lightweight wallet platform Lace, which allows users to deposit their ADA into up to five staking pools simultaneously. Additionally, the altcoin project also brought more Ledger support.
New for #LacePlatform 1.5 is multi-delegation – stake your island to up to five stake pools at once. Plus we’ve added more @Ledger support so Ledger hardware wallets can interact with #DApps and smart contracts. And there’s more! Check out our blog to discover all the new features.… pic.twitter.com/Uzamnvf5Xn
— lace.io (@lace_io) September 12, 2023
On top of that, the company recently held a major workshop event on expanding its Non-Fungible Token (NFT) ecosystem called NFTxLV, billed as a “space to connect, learn, and grow together” within the Web3 community. In terms of price, Cardano has kept pace with the overall sentiment in the rest of the crypto industry lately.
Bulls are ready to feed the new uptrend of altcoin price
crypto analyst John Isige, He looks at the technical drawing of ADA. Cardano is currently between live support and resistance areas. Itwoni you have determined beforeas i It provides the 50-day EMA. The second one is highlighted by the lower ascending trend line along with the 100-day EMA (blue). A buy signal from the Moving Average Convergence Divergence (MACD) indicator strengthens the bullish view with a buy signal along with holding in the neutral area (0.000).
Traders have the freedom to enter longs ADA as long as the altcoin price remains above the 50-day EMA and the blue MACD line remains above the red signal line. Such a breakout should be accompanied by a major increase in volume required to overcome potential resistance at $0.29 and coincide with a Multi-month descending trendline and the 200-day EMA (purple) at $0.309. Additional resistances at the middle and upper trend lines at $0.33 and $0.5 are important. Because it is possible for them to prevent the rise on the way to $1. Moreover, if it fails to hold the $0.26 support, it is likely to make things difficult for the bulls. This is likely to cause another decline towards the main support at $0.235.
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