Cardano Faces Criticism as ADA Price Dips 16.3% Amidst Whales Rush Toward JetBolt

October 11, 2024
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3 min read

This is a Crypto Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

Cardano’s ADA token has seen a sharp 16.3% decline over the past week, dropping to $0.34 due to a major selloff triggered by an $18 million token unlock. Even with founder Charles Hoskinson’s roadmap reveal scheduled for October 19, skepticism is growing around whether this will be enough to turn things around for Cardano. 

Meanwhile, newer altcoins like JetBolt (JBOLT) are stealing the spotlight after its presale surged past $290,000. This disruptive and high-tech altcoin is drawing interest from crypto whales with innovative features such as zero gas fees and AI-driven insights. Can this new altcoin surpass its rival? Read further to find out. 

Cardano (ADA) Struggles Amid Market Selloff and Token Unlocking

Cardano’s ADA token has seen significant losses, dropping 16.3% over the past week, with its price hovering around $0.34. This downturn has been attributed to a combination of factors, including a major token unlock event that flooded the market with an oversupply of ADA, triggering a widespread selloff. The influx of $18 million worth of unlocked tokens created excess supply, leading to mounting selling pressure and fueling ADA’s price decline.

While Charles Hoskinson’s upcoming October 19 roadmap reveal is hoped to inspire renewed confidence in Cardano’s future, skepticism remains widespread. Many in the market doubt whether this event will be enough to lift ADA’s sagging price, leaving the token’s trajectory uncertain. 

As a result, analysts are expressing growing doubts about ADA’s short-term recovery. Some traders anticipate that the token’s value could sink further, with predictions suggesting it may fall to $0.15 unless market conditions improve. 

READ MORE   This Altcoin Under $0.08 Aims to Surpass Cardano (ADA) and Hit a $20 Billion Market Cap.

Adding to these challenges is the rising competition from newer altcoins that boast cutting-edge technologies. New altcoins like JetBolt have begun to capture the attention of crypto whales, offering innovative features such as zero gas fees and AI-driven insights. As such, Cardano’s struggle is not just internal but reflective of an evolving crypto landscape where newer, more technologically advanced players are gaining momentum.

JetBolt (JBOLT) Gains Momentum as Whales Shift Focus

Amidst Cardano’s downward trend, the attention of crypto whales has turned toward JetBolt (JBOLT), a rising star in the cryptocurrency market. JetBolt’s presale has been a major success so far, selling over $290,000 worth of tokens in a short period as whales and early buyers flock to this new altcoin. Key features such as zero gas fees and an AI-powered market insights tool have positioned JetBolt as an attractive alternative to older cryptocurrencies.

JetBolt’s appeal lies in its ability to solve common issues that plague established coins. For instance, the absence of gas fees, a common pain point for other new altcoins and even traditional blockchains. This makes JetBolt truly an efficient and gas-less blockchain catered for a wide audience including large-scale crypto whales, crypto enthusiasts, and dApp developers.

As a next-generation altcoin, JetBolt introduces its advanced AI tools, which offer curated market data and insights. This tailored approach allows token holders to stay ahead of rapid market changes, providing a strategic advantage when building their portfolio.

JetBolt boasts various exciting features, including its easy-to-earn staking platform. JetBolt holders who stake their coins can claim daily crypto rewards simply by logging in and added bonuses by connecting with friends. Moreover, early adopters can get extra tokens with batch purchases through Alpha Boxes.

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As Cardano’s struggles continue, whales gravitate towards emerging altcoins like JetBolt with its zero-gas technology and modern sought-after features like Artificial Intelligence (AI) integrations. 

Cardano Faces Criticism as ADA Price Dips 16.3% Amidst Whales Rushing to JetBolt

Conclusion: A Tale of Two Cryptos - Cardano Dips While JetBolt Soars

While Cardano faces mounting challenges, including a significant price decline and growing skepticism about its ability to recover, JetBolt, on the other hand is riding a wave of success in its presale. The contrast between the two new altcoins underscores the dynamic nature of the cryptocurrency market, where young and innovative coins like JetBolt represent a fresh opportunity for whales looking for their next big altcoin. 

For more details, explore JetBolt’s key platforms:

This content is not financial or investment advice. Cryptocurrencies involve substantial risks so it’s always a good idea to do your own research to make well-informed decisions when choosing your preferred cryptocurrencies.

This article is a Brand Press post. Brand Press is a paid service for brands that want to reach Techpoint Africa’s audience directly. Techpoint Africa’s editorial team doesn’t write Brand Press content. To promote your brand via Brand Press, please email business@techpoint.africa

This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.
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This Brand Press article was not written by Techpoint Africa’s editorial team. To promote your brand via Brand Press, please email business@techpoint.africa.

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