There is no doubt that ongoing news about the US banking crisis and news about AI developments have given wings to the entire crypto world, including Cardano, Decentraland, and The Graph.
Analysis of the crypto assets Cardano, Decentraland, and The Graph
After the initial euphoria that led the crypto sector to rise between 8% and 40% in just two days due to the recent 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 recovered 8% in the last week and has gained 2.40% since yesterday.
ADA’s price moves to €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 in terms of gains.
If the boost received by ADA takes it above €0.40, a new bullish spiral will be triggered and new green candles will see the light.
If this does not happen due to a fading of the whale’s flurry of optimism, the $0.24 support could be touched.
Even though this scenario is possible, analyses give the former as more likely given also the Fed’s recent countermeasures and a contagion that shows no signs of stopping.
Decentraland (MANA)
Even Decentraland, similarly to other cryptocurrencies, has benefited from the crisis in classical finance.
In the past 7 days the price of MANA has risen 12.52%.
Today the token rises 1.50% to $0.58.
Decentraland which is now 5 years old is the leader in selling virtual metaverse land on the market.
The Decentraland metaverse is the agora where land supply and demand meet to transact business and the currency of exchange is precisely MANA.
MANA is the official currency of the virtual world of Decentraland and is the currency of exchange for lands among the users themselves.
The year had started in a great way for the token, which after an initial boost of 101% in early January had then reached a high of 195% before returning to milder performance.
Despite slower growth the virtual currency’s bullish trend continues.
The Graph (GRP)
As we know well, The Graph is closely linked to the world of artificial intelligence.
Recent news about the AI and Big Data sector puts The Graph in a great situation with investors reaping the rewards.
ChatGPT has driven and continues to drive the entire micro-sector, thanks in part to the innovations introduced by Google.
Indeed, 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 launching in the last quarter of 2022, and on the other hand, there’s the mass adoption of AI.
ChatGPT, which is the other big company besides The Graph in the field of artificial intelligence has also driven GRT itself by demonstrating that with every positive news from one company in the industry, the others also gain, contrary to what could be assumed.
The Graph brings home substantial investment and user trust.
In the last week alone, the price of GRT grew by 33% while today it is appreciating by an additional 1.59% touching €0.14.
The Graph gives the ability to record data from 26 different blockchains among others.
The earnings of The Graph are mainly based on inflationary indexing premiums and query fees for on-chain data users.
Source: https://en.cryptonomist.ch/2023/03/17/crypto-cardano-decentraland-the-graph/