Cardano (ADA) finds itself in a gruesome state as the token experienced a significant drop over the last seven days at the time of writing. The big question on everyone’s mind is whether the bears will give way to the bulls in the days to come.
In this article, we will delve into the current state of cryptocurrency and assess how valuable Cardano is and what is the likelihood of recovery. Moreover, we will explore formidable competitors such as Caged Beasts (BEASTS) and Avalanche (AVAX), and their current states.
Cardano: How Valuable Is It? And Can It Recover?
Cardano (ADA) has faced a tumultuous period, witnessing a significant drop of nearly 30% in the past week at the time of writing, marking its worst performance since May 2021. The decline was largely influenced by the United States Securities and Exchange Commission (SEC) labeling ADA as an unregistered security in lawsuits against prominent crypto exchanges Binance and Coinbase.
In addition, ADA’s delisting from Robinhood further contributed to the price drop of 30% on the day. Crypto.com terminating its services for ADA also restricted its access to potential mainstream investors in the US; technical analysis, however, suggests a potential rebound for ADA, indicating a glimmer of hope for the token’s recovery.
Caged Beasts: Beware The Beasts!
Caged Beasts (BEASTS) introduces a groundbreaking method for earning passive income through its innovative referral system. This system benefits both the referrer and the referred individual. Each user is assigned a unique referral code, and when someone makes a purchase using this code, the owner of the code instantly receives 20% of their deposit in popular cryptocurrencies like ETH, BNB, or USDT, directly to their wallet.
Additionally, the person who was referred receives bonus $BEASTS tokens equal to 20% of their purchase amount when they utilize someone else’s referral code. This incentivizes community members to invite friends, contributing to the project’s growth. Moreover, it offers individuals a steady way to earn passive income by continuously inviting new participants.
Caged Beasts stands out from other meme coins in terms of its visual and narrative elements, drawing inspiration from popular sci-fi and space horror genres. Unlike many meme coins that rely solely on internet memes as mascots, Caged Beasts develops its own unique art style and lore. The project’s lore revolves around a captivating story of animal experimentation, liberation, and revolution.
This narrative serves as a metaphor for the project’s philosophy and financial practices. The Caged Beasts themselves symbolize the concept of locked liquidity, as 30% of the funds raised during the presale will remain locked until the project’s launch. The Beasts’ rebellion against humanity signifies Caged Beasts’ ambition to revolutionize the current financial system.
Visit the Caged Beasts website today to watch a video about the origins of Rabbit 4001, the leader of the Beasts, and take part in the presale to start earning passive income by sharing your referral code.
Avalanche: Unlocking New Possibilities
Meanwhile, Avalanche (AVAX) is preparing to unlock millions of its tokens, which will result in a 1.2% increase in the total supply, presenting both challenges and opportunities. Key participants in the Avalanche ecosystem, including as the Avalanche Foundation, business partners, Ava Labs, and through an airdrop, will get the tokens.
AVAX is the fuel for Avalanche’s smart contracts ecosystem and is essential to staking, which secures the blockchain. Although token unlocks can cause concern, Avalanche has carefully planned this distribution, and sophisticated actors have adjusted accordingly.
So, how valuable is Cardano? Despite its struggles, it’s still the 7th largest coin by market capitalization, and it’s hard to imagine a complete fall from grace for it. Therefore, we can safely assume that it’s going to recover eventually, but for the moment we should look for a safer investment like Caged Beasts.
This new meme coin can only go up after presale, and until then the barrier to entry is minimal and so are the risks. So, visit Caged Beasts’ website today and join the revolution against the beastly humans by participating in the presale and start earning USDT for every referral you make.
Caged Beasts: Join The Revolution!
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS