Cardano (ADA) has been following the general sentiment in the market. The fifth cryptocurrency in terms of market capitalization has been trending to the downside but at a slower pace than larger cryptocurrencies.
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At the time of writing, Cardano (ADA) trades at $0.48 with a 6% and 14% loss in the 24-hour and 7-day chart, respectively. The second crypto by market cap Ethereum (ETH) records a 30% loss over the same period, Binance Coin (BNB) a 24%, Solana (SOL) a 24% loss, and XRP an 18% loss in the past 7-days.
BTC trends to the downside on the 4-hour chart. Source: BTCUSD Tradingview
Cardano’s developer Input Output Global (IOG) recently announced two products that could contribute to ADA’s price short-term strength. The company revealed a new wallet called Lace, and the deployment of a new Ethereum Virtual Machine (EVM).
Lace is aimed at being Cardano’s new light wallet and to help it gain more adoption. The wallet will provide ..
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