Cardano Eyes Retest of Yearly Low Following US CPI Data Release
2022.07.14 16:06
Cardano Eyes Retest of Yearly Low Following US CPI Data Release
- Cardano’s price is eyeing a retest of the yearly low at $0.39, with the release of US CPI data.
- Despite a spike in Cardano’s development activity, the altcoin’s price failed to recover against competitors Bitcoin and Ethereum.
- Cardano’s price remains at risk of plummeting to sub $0.20 levels in the ongoing downtrend.
Whales on the Cardano network holding between 10 million and 100 million ADA scooped up the tokens during the recent dip in the Ethereum-killer’s price. Cardano’s price chart reveals that the altcoin could suffer a decline and plummet to sub $0.20 levels, despite accumulation by whales.
In the past week, Input Output Global, the developers behind the Cardano network made 3028 Github commits. With a total of 13,003 Github changes made in June 2022, development activity on the Cardano network is higher than its competitors Solana, Avalanche, and Ethereum. Developers are working on the upcoming Vasil hard fork, therefore activity on Cardano repositories …
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