2021 was a very bullish year for many cryptocurrencies. We witnessed the ‘Layer-1’ blockchain narrative and saw many new chains appear, with older tech also making a strong showing. Cryptos like Cardano (ADA) saw prices increase by multiples, and market caps went into the multiple billions. But what is the market looking for now?
Cardano (ADA) Price
Cardano price found itself over the $3.00 mark at the market top in 2021. This was up from below $0.10 in late 2020. The impending upgrades to the Cardano network, allowing it to operate smart contracts, were the main driver for this powerful uptrend.
However, once the network was upgraded and the performance was way below expectations, many investors began selling their ADA. This was the top ADA price of the bull market and meant that Cardano was the first asset to enter the bearish trend, even before the market-leading BTC.
Since then, the Cardano price has struggled, reverting back to just over $0.30 over the past 18 months, equivalent to almost -90%.
As ADA holders continue to take losses and the network underperforms expectations, it is losing interest from investors globally and will unlikely see a new positive uptrend until some more development is made.
Crypto Narrative
Finding the ‘narrative’ in cryptocurrency is one of the better ways to trade. Noticing trends before and as they happen can make investors the most considerable profits, and one narrative that is starting to take hold at the moment is toward AI solutions.
Many investors realize the uptake of customers into the life-improving services will generate large sums of revenue and will likely push many projects into the top crypto lists.
Avorak AI
An example of a project gaining traction in the industry is Avorak AI. After already being picked up by prominent Youtubers and Twitter accounts, the ICO has been performing well, and hopes are high for a sell-out.
The main draw to Avorak is that the AVRK token, currently in the second stage of ICO and still incredibly good value, is that it is used as the credit to access the Avorak ecosystem of automated and self-learning technologies.
Starting out with an intelligent trading bot and moving into image generation and AI writing services, customers will use the AVRK token to perform tasks with these products, and as such natural demand for the services generates natural price appreciation for the token.
The second reason for AVRK being so interesting is that a percentage of all revenue generated this way is sent back to AVRK holders. This means that there is a strong duo of use cases in that it acts as both a credit for access to AI services and also a right to a share of profits from these services. With such strong tokenomics, alongside a 100% audit pass, it is no wonder Avorak is catching all the right attention.
With the AVRK ICO price due to increase in the next phase, buying sooner rather than later would be the best way to ensure profits.
Want to learn more about Avorak AI?
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
