Cardano Price Prediction as Cardano is Named Top Blockchain For Daily Development Activity – ADA to the Moon?

cryptonews.com:

The Cardano price has risen by 1.5% in the past 24 hours, in line with a 2% rise for the cryptocurrency market as a whole. At $0.315694, it's basically flat in the past week but down by 15% in the last 30 days.

However, such falls are part of the market-wide decline crypto has witnessed ever since the FTX collapse last month, with Cardano itself having more reasons to be optimistic. In particular, new data has revealed that the layer-one blockchain network leads the rest of ecosystem in terms of development activity, with more daily GitHub commits that other platforms on most days of the week.

And with the platform seeing its ecosystem grow with each passing week, such data points to a bright future for Cardano in which it's one of the busiest and most popular layer-one blockchains. In turn, this suggests that ADA is dramatically underpriced at the moment, with substantial rallies predicted for it once the market returns to more bullish conditions.

ADA's chart suggests that the altcoin is ripe for a rally. Its relative strength index (purple) has risen from close to 30 in Novemer to around 45 now, and looks set to continue gaining momentum.

At the same time, the coin's 30-day moving average (red) has remained comfortably below its 200-day average (blue) for most of the year. In purely technical terms, this means that ADA is long overdue for a big rebound and further increase.

Needless to say, the weak global macroeconomic situation means that investors may still have to wait for a really strong ADA rally to finally arrive. The same goes with regards to the FTX situation, which also continues to depress the market and investor sentiment, with other struggling firms likely following in FTX's wake.

But once such negative factors