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**Cardano (ADA) Makes Dramatic U-Turn, Defends $0.7 Level**
In a surprising turn of events, the price of Cardano (ADA) has taken an unexpected dive and is now defending its crucial $0.7 level. This dramatic shift comes as a shock to many market analysts who were predicting a steady decline in value.
As the price chart indicates, ADA’s price had been steadily falling over the past few days, sparking concerns among investors about potential losses. However, this sudden reversal has caught many off guard, and it remains to be seen whether this trend will continue or if it is just a brief correction.
Meanwhile, on-chain data reveals a surge in token activity, with 10.77 million native tokens issued and 212,489 token policies being implemented. This suggests that the community’s enthusiasm for Cardano has not wavered, and users are actively engaging with the platform.
The network itself has also seen significant growth, with 108.73 million transactions processed to date. Additionally, the number of projects built on the network continues to rise, with a total of 1,261 DReps registered – an increase of 0.49% over the past week.
While this unexpected turn of events may be cause for excitement among ADA holders and enthusiasts, it remains essential to stay informed about market developments and make investment decisions based on your own research and risk tolerance.
Source: https://u.today/cardano-ada-makes-dramatic-u-turn-defends-07-level
