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ADA Increases in Value as the Cardano Blockchain Accepts a Metaverse Project
Pavia.io is the first metaverse project to start on the Cardano blockchain, with ADA surging 11% in the aftermath of the announcement.
Cardano has become the latest blockchain to host a metaverse-focused project, as the metaverse area continues to gain traction.
Pavia Becomes Cardano's First Metaverse Project
After a weekend of strong performance, the cryptocurrency market has marginally retreated during the last few hours. Bitcoin has fallen below the $43k mark, while Ether has been unable to break beyond the $3,300 barrier.
ADA, the Cardano ecosystem's native cryptocurrency, has been climbing over the last 24 hours. Cardano ranks fifth in terms of market capitalisation, behind Bitcoin, Ether, Binance Coin (BNB), and Tether (USDT).
At the time of publication, ADA was trading at $1.52 per coin. The primary driver of the rally is the launch of the Cardano blockchain's first metaverse project. Pavia.io stated a few hours ago that it has become the first Cardano-based metaverse project.
The Pavia team stated that it currently has approximately 100,000 Land parcels, each of which is represented by a unique nonfungible token (NFT) with coordinates. The metaverse is a critical component of the cryptocurrency ecosystem that has gained momentum in recent months.
ADA Exceeds the 50-Day EMA
ADA's value has increased by more than 10% in the last 24 hours, outpacing the other major cryptocurrencies. The daily chart of ADA/USD is positive, and the currency may rise higher in the coming hours if the current trend holds.
ADA is currently trading at $1.539, slightly higher than its 50-day moving average of $1.3343. For the first time this year, the MACD line has passed the neutral zone. Meanwhile, the RSI of 63 indicates that ADA has exited its oversold level and is on the verge of being overbought if the current momentum continues.
If the surge continues, ADA could break through its first significant resistance level at $1.74 in the coming hours. A sustained bullish performance would enable ADA to break through the $2.0 level for the first time since November 16.
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By Crypto PiratesPavia.io is the first metaverse project to start on the Cardano blockchain, with ADA surging 11% in the aftermath of the announcement.
Cardano has become the latest blockchain to host a metaverse-focused project, as the metaverse area continues to gain traction.
Pavia Becomes Cardano's First Metaverse Project
After a weekend of strong performance, the cryptocurrency market has marginally retreated during the last few hours. Bitcoin has fallen below the $43k mark, while Ether has been unable to break beyond the $3,300 barrier.
ADA, the Cardano ecosystem's native cryptocurrency, has been climbing over the last 24 hours. Cardano ranks fifth in terms of market capitalisation, behind Bitcoin, Ether, Binance Coin (BNB), and Tether (USDT).
At the time of publication, ADA was trading at $1.52 per coin. The primary driver of the rally is the launch of the Cardano blockchain's first metaverse project. Pavia.io stated a few hours ago that it has become the first Cardano-based metaverse project.
The Pavia team stated that it currently has approximately 100,000 Land parcels, each of which is represented by a unique nonfungible token (NFT) with coordinates. The metaverse is a critical component of the cryptocurrency ecosystem that has gained momentum in recent months.
ADA Exceeds the 50-Day EMA
ADA's value has increased by more than 10% in the last 24 hours, outpacing the other major cryptocurrencies. The daily chart of ADA/USD is positive, and the currency may rise higher in the coming hours if the current trend holds.
ADA is currently trading at $1.539, slightly higher than its 50-day moving average of $1.3343. For the first time this year, the MACD line has passed the neutral zone. Meanwhile, the RSI of 63 indicates that ADA has exited its oversold level and is on the verge of being overbought if the current momentum continues.
If the surge continues, ADA could break through its first significant resistance level at $1.74 in the coming hours. A sustained bullish performance would enable ADA to break through the $2.0 level for the first time since November 16.
Support us!