The Cardano network has gained worldwide recognition for its superior uptime compared to its closest competitor, Solana, in the midst of the widespread adoption of digital assets and web3 projects.
In recent times, the well-established security features of Cardano have attracted more web3 developers who are focused on tokenizing Real-World Assets (RWA).
Cardano (ADA) is a prominent blockchain that is oriented towards smart contracts and boasts a Total Value Locked (TVL) of over $329 million. It has evolved into a mature ecosystem that supports the rapidly growing global tokenization of RWA. The core developers of Cardano, led by co-founder Charles Hoskinson, have consistently worked on enhancing the underlying blockchain. This includes the implementation of the latest layer two scaling solutions through projects such as Mithril and Hydra.
With the mass adoption of digital assets by institutional investors worldwide, there has been a significant increase in demand for scalable, affordable, and secure web3 projects.
The competition in the layer one blockchain industry has also intensified recently, with the presence of dynamic chains like Ethereum, BSC, Solana, and Tron, among others.
ChainCrib Introduces Fractional RWA Investments on the Cardano Network
ChainCrib is a rapidly growing platform that leverages the power of the Cardano blockchain to tokenize real estate properties globally through Non-Fungible Tokens (NFTs). Its mission is to bridge the gap between the traditional market and the digital sphere with the help of ADA.
Importantly, the ChainCrib platform utilizes the CIP-68 token standard on the Cardano network to attract more investors. This is in response to the significant failure of the traditional method of funding real estate properties through banking, as exemplified by China’s Evergrande, which recently had to liquidate its assets to repay its massive debt.
The utilization of Cardano smart contracts and ChainCrib’s partnerships for real estate property investment is expected to be a game-changer in the coming years. The commercial real estate market is projected to reach a staggering $115 trillion in the near future. Meanwhile, the ChainCrib platform aims to leverage CRIB tokens for seamless tokenization in the long term.
Impact on ADA Price Action
The Cardano ecosystem is undoubtedly well-positioned to benefit from the integration of web3 projects focused on the tokenization of Real World Assets (RWA).
In addition to the increased liquidity in the Cardano ecosystem, the demand for ADA coins is expected to gradually rise in the coming years. Consequently, the price of ADA will experience a parabolic surge during the confirmed bull rally over the next two years.
From a technical standpoint, the ADA price on the weekly time frame is on the verge of a significant breakout after successfully rebounding from the bottom of the crypto bear market in 2022/2023. Notably, the Cardano bulls must defend the support level around 49 cents, which also aligns with the 1.68 Auto Fib Extension, in order to secure a rebound towards the next target range of 81 cents to 91 cents, as indicated by the same indicator.
Alternatively, if the ADA price fails to hold above the aforementioned support level, it risks dropping towards the next major support level around 39 cents to attract more buyers. Furthermore, the ADA price encountered significant resistance around 69 cents and has since declined by 30 percent to its current trading level (SEE CHART BELOW).
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