Cardano Price Forecast as ADA Pumps Up 50% From Bottom – ADA to $10 Soon?
Carrano price bulls have slowed down an aggressive four-week push that saw the token’s value grow by 45.5% in 30 days. The eighth-largest cryptocurrency, boasting $13.2 billion in market capitalization, holds slightly in the green backed by a 0.9% increase in 24 hours. The 50% pump from the bottom saw ADA price reach highs of $0.39 but has since retraced to trade at $0.379 at the time of writing.
Cardano’s use cases as a smart contract platform have attracted the attention of the United Nations High Commissioner for Refugees (UNHCR), which hopes to tap the crypto platform as an alternate approach to supporting unfairly displaced people. Through this platform, the humanitarian organization will innovatively raise funds. With this development, UNHCR will for the first-time use blockchain technology to link other humanitarian communities to achieve a positive impact.
“Adopting the Cardano blockchain is first and foremost a new and innovative way of helping raise funds using staking to support people forced to flee… The opportunity of a stake pool generating rewards enables an even larger community to help make a difference and deliver lifesaving assistance to those most in need,” UNHCR outlined via a blog post.
Although this might seem like purely a humanitarian effort, Cardano price may benefit as people around the world buy the ADA token for staking purposes. The program allows crypto users to donate while still holding ADA in a smart contract for a period of time.
In other news, Djed, a stablecoin expected to go live on Cardano’s blockchain next week, will enjoy the support of decentralized exchanges (DEXs) in the ecosystem. The DEXs set to list the much hyped stablecoin and its governance token Shen are MinSwap and
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