The crypto Cardano, Decentraland and The Graph
There is no doubt that ongoing news about the US banking crisis and news about AI development have given wings to the whole crypto world, including Cardano, Decentraland and The Graph.
Analysis of crypto assets Cardano, Decentraland and The Graph
After the initial euphoria that saw the crypto sector rise between 8% and 40% in just two days due to the latest events in the banking sector, the trend has stabilized, but Cardano, Decentraland and The Graph continue the positive momentum.
Cardano (ADA): the crypto follows the bullish trend along with Decentraland and The Graph
Cardano picked up 8% in the last week and is up 2.40% since yesterday.
ADA’s price is moving at €0.31 with 34,707,254,291.03 units outstanding.
The news from the US side has been good for the entire crypto sector, which has benefited from gains.
If the boost received by ADA takes it above €0.40, a new bullish spiral will be triggered and new green lights will see the light.
If this does not happen due to a fading of whale optimism, the $0.24 support could be affected.
While this scenario is possible, analysis makes the former more likely given also the Fed’s recent countermeasures and a contagion that shows no signs of stopping.
Decentralized Land (MANA)
Even Decentraland, like other cryptocurrencies, has benefited from the crisis in classical finance.
During the last 7 days, the price of MANA has risen by 12.52%.
Today, the token rises 1.50% to $0.58.
Decentraland, which is now 5 years old, is a leader in selling virtual metaverse land on the market.
The Decentraland metaverse is the agora where land supply and demand meet to do business and the currency for exchange is precisely MANA.
MANA is the official currency in the virtual world of Decentraland and is the currency for the exchange of land among the users themselves.
The year had started in a great way for the token, which after an initial boost of 101% at the beginning of January had reached a high of 195% before returning to a milder performance.
Despite slower growth, the virtual currency’s bullish trend continues.
The Graph (GRP)
As we know well, The Graph is closely related to the world of artificial intelligence.
New news about the AI and Big Data sector puts The Graph in a great position with investors reaping the rewards.
ChatGPT has driven and continues to drive the entire microsector thanks in part to the innovations introduced by Google.
In fact, the search engine giant recently stated that it will implement some of its services such as Gmail and Docs with ChatGPT’s technology.
Meanwhile, GRT has reached a market capitalization of more than $1 billion.
The success in numbers both in terms of value and capitalization is mainly due to two things.
On the one hand, the inherent success of the platform continues after its launch in the last quarter of 2022, and on the other, there is the mass adoption of AI.
ChatGPT, which is the second major company besides The Graph in artificial intelligence, has also driven GRT itself by demonstrating that with every positive news from one company in the industry, the others also win, contrary to what one might assume.
The graph brings home significant investment and user trust.
In the last week alone, the price of BRT grew by 33%, while today it rises by another 1.59%, touching €0.14.
The graph provides the opportunity to record data from, among other things, 26 different blockchains.
The Graph’s revenue is primarily based on inflation indexing premiums and query fees for data users on the chain.
