{"id":12036,"date":"2021-10-11T04:09:42","date_gmt":"2021-10-11T03:09:42","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=12036"},"modified":"2021-10-11T04:09:50","modified_gmt":"2021-10-11T03:09:50","slug":"is-cardanos-tree-plan-capable-of-reviving-its-price-and-performance","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/is-cardanos-tree-plan-capable-of-reviving-its-price-and-performance\/","title":{"rendered":"Is Cardano’s “tree plan” capable of reviving its price and performance?"},"content":{"rendered":"\n
Cardano<\/a> has just joined the bandwagon of blockchains with smart contracts. Since then, the price has gone through numerous ups and downs, but it is currently stagnant. <\/h5>\n\n\n\n
\"Is<\/figure>\n\n\n\n

Cardano\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> has launched a new initiative in attempt to kickstart the price movement. Will it, however, work in the long run?<\/p>\n\n\n\n

Why hasn't Cardano moved?<\/h2>\n\n\n\n

From the end of July to the beginning of August, Cardano<\/a> had a fantastic month. It even hit a new all-time high of $2.96 on September 3, but its performance has been disappointing since then.<\/p>\n\n\n\n

Despite numerous big single-day gains, it was down by a solid 23% from its all-time high at the time of this report. On September 22, for example, ADA surged 13.75 percent, and the event had a significant impact on investors.<\/p>\n\n\n\n

Over 300,000 investors joined the network the day after the increase. However, the volume increase was not significant, with just a $3 billion increase.<\/p>\n\n\n\n

The rest of the month was also devoid of substantial upward movement.<\/p>\n\n\n\n

Despite the fact that September was a particularly terrible month for the cryptocurrency, October has so far been rather benign. Cardano's price movement is now consolidated in certain ways.<\/p>\n\n\n\n

Despite numerous efforts to break through the $2.34 barrier over the last month, it has remained unbroken. ADA closed down under it despite numerous wicks being produced through it.<\/p>\n\n\n\n

So, what has Cardano done to make a difference?<\/h2>\n\n\n\n

Since the completion of the Cardano summit, the foundation has launched an endeavour to foster a healthy environment while also assisting in the growth of Cardano's DeFi<\/a> acceptance and involvement by utilising the environment as a tool.<\/p>\n\n\n\n

The necessity for an environmentally friendly token has been discussed for a long time, but it gained steam when Tesla<\/a> removed the option of paying in Bitcoin<\/a> due to environmental concerns. The project requests for a gift of between 15 and 1 million ADA, which would be used to plant a tree.<\/p>\n\n\n\n

In exchange, the donor will receive an NFT<\/a> digital certificate, a “NFTree” painting of varying rarity based on the amount contributed, and other benefits.<\/p>\n\n\n\n

Because the approach is based on unexplored territory, it is impossible to predict if it will be a complete success. It's yet unclear how it will affect price action, if at all.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cardano has just joined the bandwagon of blockchains with smart contracts. Since then, the price has gone through numerous ups and downs, but it is currently stagnant. Cardano has launched a new initiative in attempt to kickstart the price movement. Will it, however, work in the long run? Why hasn’t Cardano moved? From the end […]<\/p>\n","protected":false},"author":13,"featured_media":12037,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,71],"tags":[202,193,147],"class_list":["post-12036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-markets","tag-blockchain","tag-cardano","tag-nft"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/image-44.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=12036"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/12037"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=12036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=12036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=12036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}