Cardano (ADA) and Crypto.Com (CRO) Might Be the Best Bet For Traders In May. Here’s Why
The post Cardano (ADA) and Crypto.Com (CRO) Might Be the Best Bet For Traders In May. Here’s Why appeared first on Coinpedia — Fintech & Cryptocurreny News Media| Crypto Guide
Major crypto tokens soared sharply following the rate hike by the US Federal Reserve. The eased aggression from Jerome Powell boosted morale in the digital crypto market. The global crypto market cap rose 5.06 percent to s $1.81 trillion.
TRX, WAVES, and ZIL remain the best performers among the top 100 crypto assets by market capitalization today, as the altcoins spiked more than 30% in a day. Other altcoins including LUNA, AVAX, DOT, MATIC, LTC, NEAR, UNI, APE, ADA & More also saw decent gains.
Also Read : Binance to Invest $500 Million With Elon Musk in Twitter Takeover
Cardano (ADA) and Crypto.com (CRO) Are undervalued
The entire crypto market is a bit shaky right now. Therefore, a famous Youtuber John Parys has focused on undervalued crypto and has revealed the Top 2 undervalued altcoins that could hold massive potential in May 2022.
Cardano (ADA)
It is broadly clear that Ethereum does not have a grip on the altcoin blockchain business anymore. Another ETH competitor, Cardano, is growing at a fast pace.
With Ada trading near 15-month lows, it appears that Cardano whales, those who hold large amounts of the token, are accumulating. Data from Santiment shows the number of crypto wallets with more than 10 million Ada has increased by nearly 2.15% since mid-April, hinting that whales are eying a recovery.
Cardano (ADA) started a strong surge above the $0.85 resistance. It gained 13% and even tested the $0.90 resistance. A close above $0.90 may perhaps open the doors for a steady increase towards the $0.95 resistance. ADA is also up 5% in a week.
According to John, Cardano will hit its maximum in August and trade at $1.51. The expected price growth is estimated to be +72% until the end of the year.
Crypto.Com (CRO)
Recently, Crypto.com has opted to reverse its decision to slash card staking entirely after backlash from the cryptocurrency community.
The crypto exchange’s native token Cronos CRO/USD fell by more than 17% on the day. However, as long as the CRO price remains below $0.50 this is the right time to accumulate.
Crypto.com’s CRO token has taken a drastic drop to hit a YTD low.
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