Most altcoins have lost most of their growth as the market has been painted red. Leading assets Bitcoin and Ethereum led this decline, while other alternative names drifted along with the waves. However, according to analyst Biraaj T, an altcoin behaves differently from other projects. The crypto analyst interprets this asset, which can maintain its strength to a large extent, with its current developments…
This altcoin project holds its own against the RSI in the 2021 drop
This altcoin, which managed to protect itself in 2021, is Cardano (ADA), which the analyst frequently mentions. According to the analyst, when the RSI is examined, the fifth-ranked ADA manages to maintain its strength. 2% of Cardano’s value since the beginning of October. Stating that it has shown a large increase of 276, the analyst emphasizes that in the latest collapse, ADA only decreased by 40%. It also significantly draws the analyst’s attention that Ethereum fell more than ADA after May 19.
Additionally, ADA is firmly holding the $1 zone. The analyst comments that “the asset is likely to recover in the coming weeks as the bearish pressure eases across the market”.
Altcoin Cardano Grayscale’s third largest shareholder, is Wall Street next?
Cryptocoin. com, Grayscale recently added Cardano to its large-capital fund such as Bitcoin and Ethereum. Stating that ADA is currently the third largest asset in the fund with a share of 4.26%, the analyst adds that the sudden and direct listing of Cardano while being evaluated so far has left investors wondering. Also, according to the analyst, Cardano’s superior performance from day one, although Chainlink and Bitcoin Cash were previously funded from ADA, is a clear indication that there is great interest in the project.
In addition, emphasizing the huge impact of investors on the growth of ADA, where Grayscale provides direct access to invest in the project, the analyst said Grayscale applied for a Cardano Trust in January 2021 and