In Brief:
Cardano Network may give Champ Medici (Snoop Dogg’s Son) more presence.
Champ Medici is an NFT artist and a crypto investor who believes strongly in the creator of Cardano (Charles Hoskinson) and the Cardano ecosystem.
The die-hard Cardano crypto investor shows how much he believes in Cardano when he was making a tease about music content for Cardano coming up soon.
Champ Medici will be the artiste to release the upcoming Cardano music. The music will likely give Champ Medici a Cardano network presence.
In April, Champ Medicia and his father, Cozomo Medici (aka. Snoop Dogg), officially launched their collaboration with NFTs projects built on the Cardano network.
The NFT projects are also called Clay Nation projects. The NFT project delivers land pitches, music content (unlockable), and land pitches to the Cardano network.
On the Cardano network, NFT investors have minted over 5 million NFTs since the start of NFT minting on the Cardano network.
Data by POOL.PM shows that the total native assets by investors built on the Cardano network are 5,030,192.
The various minting policies on the Cardano network are currently 54,897.
The numbers were not initially this high; the increase is because of the expansion that has hit the Cardano network.
According to CMC (CoinMarketCap) data, Cardano is on the list of the first ten cryptocurrencies.
Precisely, Cardano sits on number seven with a Market Cap of over $18 billion. As the development activity of Cardano got to its peak, the price rose by 28%.
On the 27th of May, Cardano’s price witnessed a downward trend. It fell to $0.4, then rebounded again.
Cardano Current Trading Price and Volume
At the time of this writing, Cardano was trading up at 22.64% in the last seven days, and the price is $0.5611. This price shows that the coin has been on an upward price trend.
On the 4th of June, Cardano hit a high of $0.5702, and currently, Cardano is up 1.72% in the last 24 hours.
The upward price uptrend in the last week may be because big investors controlling over $200 billion in cryptocurrencies are heavily investing in three other altcoins.
They moved from investing in Ethereum to investing in Cardano, Polkadot, and Ripple.
Reason For Cardano Price Uptrend
Coinshare’s digital survey shows the movement of money by these investors from Ethereum into Cardano has been on since March.
They chose these three cryptocurrencies because they believe that Cardano, Ripple, and Polkadot will go bullish in the next bull run.
The investors have put double the investment amount on Cardano against Ripple and Polkadot. The investment on Cardano is up to 12%, which is double the 6% investment on Ripple.
Commenting about the recent Cardano price increase, Santiment (an expert firm in on-chain analytics) took note of the developmental activity increase.
Santiment mentioned that the last couple of days has brought a positive price trend for Cardano. Cardano, even recently witnessed a 13% increase in price one day.
From the look of things, Cardano’s development activity got to its all-time high and then began to get suppressed.
While the bearish market is still forcing down Cardano’s price, the Cardano team is working tirelessly to keep Cardano’s worth on a positive trend.
According to the statistics IOHK shared recently about the Cardano network, the current number of projects people in the ecosystem are developing rose from 943 to 986.
So, recently Cardano network has increased in ongoing projects by 88 new additions. Then there has been a growth in the number of NFT projects too.
The current number of NFT projects on the Cardano network is 5727 currently.
We can trace the increase in the number of NFT projects can back to the teasing of Snoops Dogg’s son about his upcoming NFT release. All of these may show that the coin has a bullish future.
Cardano 2022 Price Predictions
Cardano is one of the coins in the cryptocurrency community that has gotten a lot of attention from investors.
Crypto analysts mentioned that the Cardano project has the excellent ability to do great and should be an asset that crypto enthusiasts ought to hold apart from trading for profit.
Cardano has built a strong community by getting people to believe in it using its peer-review academic research method.
The Cardano team’s tireless effort and technical foundation have brought Cardano on the list of one of the top 10 cryptocurrencies in the world. Looking at the vitality of the Cardano, we can tell what the cryptocurrency will be worth by the end of 2022.
The expected prices of Cardano in 2022 according to technical analysis may get to a maximum of $0.70, with its minimum price will be $0.59. The average treading price to expect will be around $0.61.
Please note that it is almost impossible to make a price prediction that will be 100% correct about Cardano. We can only mention the minimum and the maximum price that Cardano will hit in the coming days; however, they are just speculations and estimations. This article does not serve as financial advice; you should Do Your Research before investing in the Cardano projects.
Cardano today is still one of the most popular cryptocurrencies with incredible potential even with all its competition. As you have seen before in this article, it is currently number 7 on the CoinMarketCap.
Formerly, some investors have expressed disappointment in the Cardano project because they felt Cardano might not deliver the promises it brought into the crypto ecosystem.
These investors, however, are the minority. Most of the investors (like Champ Medici) holding Cardano believe so much in the project. Cardano holders trust that the price of Cardano will go beyond its All-Time High.
Currently, Cardano’s price predictions remain bullish. The price predictions are bullish because, on all fronts, the cryptocurrency has all the attributes of a crypto project that will be successful.
Cardano has a great team, a solid technical foundation, and a supportive community. We should expect a further uptrend for the price of Cardano in the future.
