After an elongated market gloom since the beginning of the financial year, the crypto mallet finally exhibited a consistent hike over the past week. Out of the top cryptos available, Cardano (ADA) is showing some positive trends according to the analysts.
If you are looking for investment opportunities that will passively enhance your credit score, several options in the market might be ideal for you.
Right from the established top cryptos to the new promising entries within the market, the digital asset economy is thriving with some interesting offers.
Cardano (ADA) Shows A Bullish Run
Over this week, Cardano (ADA) reported a consistent five-day bullish run which has spelled profits for its investors. In the said hike, Cardano (ADA) achieved a nearly 23% rise and also happened to break its challenging resistance level of $0.45.
This can be helpful for both long-term Cardano investors wanting to invest in the dip and short-term investors looking to ride a rally.
For Cardano to have a chance of printing higher highs, it must maintain above the $0.50 support level. Failure to maintain above such a critical price level might be interpreted as a sign of weakness, which would prompt an increase in profit-taking.
Hence, if investors were to extract their investments, Cardano (ADA) might fall to $0.45 or possibly $0.38. At press time, the situation seems rather profitable as Cardano continues to trade at $0.53.
The current market capitalisation for Cardano (ADA) is an impressive $17.7 billion. Given its current performance along with the affordable token value, Cardano (ADA) can be a great investment opportunity during this fresh bull season.
Invest in New Cryptos like HUH Token
HUH Token (HUH) is a brand new entry into the crypto market and analysts are predicting it to take over the market in the coming months to compete with the likes of Cardano. The token is backed by a holistic blockchain network and ecosystem that aims to harness the potential of the influencer economy.
HUH developers will soon launch the MetHUH social networking platform for all the cryptocurrency conversations in the market. Through this medium, anyone can become a MetHUH influencer and make money based on how much content they share and how much interaction they generate.
To encourage new customers to use the service, holders of HUH tokens can also create a referral code. A smart contract will automatically reward holders with tokens for these referrals.
In the first 48 hours following its launch in December 2021, the value of HUH soared by 6000 percent. Investors in HUH once saw profits that were roughly ten times their initial investment. The cryptocurrency is currently for sale on decentralised exchanges after moving through the presale phase.
Investing in new cryptocurrencies is always a smart choice as it diversifies your portfolio and makes it immune to any volatility that might occur in the market.
Considering the current bullish trend of the market, it could be the ideal time to invest in different types of cryptos for elongated profits. It is important to always be backed by personal research before making any purchases in the crypto market.
