Cardano Price Momentum Stalls, While Launchpad XYZ Raises $1.1M

Cardano ($ADA) finds its recent momentum slowing down, with the token’s price dropping 5% in the past two days.

After a period of sustained positivity, it appears that the bears have regained control – leading many to speculate that $ADA may be on the precipice of another downtrend.

In contrast, new Web3 platform Launchpad XYZ ($LPX) continues to turn heads in the market and has succeeded in raising over $1.1 million through its ongoing presale.

Cardano Stumbles as Bullish Momentum Comes to an End

At the time of writing, the $ADA price is hovering around $0.286, following two bearish daily closes in a row.

Price has rejected the resistance zone at $0.300, which was also tapped at the end of June.

Unfortunately for $ADA bulls, price has broken below the 20-day Exponential Moving Average (EMA) – a commonly-used proxy for a token’s short-term trend.

This break below the 20-day EMA signals that bearish pressure could now start mounting on Cardano.

Per CoinMarketCap data, a whopping 88% of $ADA holders are out of the money at the current price – an indicator that the market conditions are causing unease among Cardano investors.

Not only that, but IntoTheBlock reveals that the number of large $ADA transactions has decreased by 24%, further evidencing the lack of interest from the crypto community.

Regulatory Uncertainty Adds to $ADA’s Woes

The recent price drop signifies that $ADA bulls are opting to take profits rather than wait for an extended uptrend.

Regulatory events in the US have pushed Cardano into murky waters after the SEC categorized $ADA (along with several other cryptos) as securities last month.

Following this, major platforms like Revolut, Robinhood, and eToro have announced plans to delist the token – adding further pressure to $ADA’s position in the market.

This decision to delist $ADA indicates a wave of caution from trading platforms, even though most in the crypto community contest the “security” label that the SEC has placed on Cardano.

Nevertheless, the uncertainty surrounding the token has impacted its price, evidenced by its inability to sustain positive momentum for more than a few days.

Ultimately, this paints a complex picture for the future of $ADA, indicating that caution could be the watchword for crypto investors in the short term.

Which New Cryptos Look Primed for Significant Growth?

While the regulatory climate is placing constraints on Cardano, there are still opportunities for new and promising projects to emerge.

One such project that has been turning heads is Launchpad XYZ, which is demonstrating remarkable growth potential during its ongoing presale.

Launchpad XYZ Revolutionizes Web3 Accessibility & Raises $1.1m

Launchpad XYZ ($LPX) is an exciting entrant to the Web3 space and is committed to making the complex investing landscape accessible to all users – regardless of their market experience.

This user-friendly hub offers a dynamic interface for trading and investing in various Web3 assets, including cryptocurrencies and NFTs.

Launchpad XYZ’s listings are backed by real-time insights and market analysis, making it simple for investors to discover promising Web3 projects – as the website states, users can “find the next $PEPE before it explodes.”

Not only that, but Launchpad XYZ has a dedication to education. Per the whitepaper, users can access resources that help clarify complex Web3 concepts, like DeFi and the metaverse.

Launchpad XYZ will also have a play-to-earn (P2E) gaming hub and a metaverse experience library, allowing users to access these immersive worlds without using multiple third-party platforms.

All of these features are fuelled by $LPX, Launchpad XYZ’s native token, which can also be staked to access premium perks – like trading fee discounts and beta P2E game invites.

The Launchpad XYZ presale is still ongoing, having raised an impressive $1.1 million thus far.

Early investors can purchase $LPX through the presale for just $0.0445 – a 26% discount on the planned exchange listing price.

Visit Launchpad XYZ Presale

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