First things first, a bit of housekeeping:
Our pending closure of the ADAST 2 pool seems to be going well.
Epoch 337 – the last Cardano epoch for which ADAST 2 will be active (at least for the time being) – is about four hours away from completion, and we’re already seeing better performance out of ADAST 1 as holders have moved their Cardano into our main pool.
And because some delegators won’t actually be seeing rewards (as they came over too late to earn free ADA from Epoch 337), we expect those numbers to be even better going forward.
For those of you who still haven’t moved your ADA out of ADAST 2 (there are currently about a million ADA coins earning rewards in ADAST 2 for Epoch 337), please make sure you transfer those to ADAST 1 (or to another reputable Cardano stake pool) as soon as the current epoch ends.
Now, with that out of the way, second things second:
ADA is currently trading at $0.66 per coin, and the ADA value is down some 16% or so over the last seven days.
This is a bigger drop than we were anticipating when we last bought the dip, but all it really means is that it’s time to buy the dip again.
If you scour the Cardano news wire, you might be tempted to bail amid the Great Crypto Crash of 2022, but to what end?
You’d be taking a loss for no reason (the ADA price will go back up and move past its ATH sooner than later), and unless you’re going to pocket the cash, you’d only be reinvesting that money on lesser-known coins that might blow up in the future. Maybe.
Big picture: All the big coins have crashed just as hard – and in many cases, harder – than Cardano over the last few weeks.
In the following list, we’ve put together the top 50 cryptocurrencies, ranked first to 50th in terms of total market cap (per CoinMarketCap), along with their seven-day value trends.
- Bitcoin ↓18.3%
- Ethereum ↓16.4%
- BNB (Binance Coin) ↓17.0%
- XRP (Ripple) ↓16.1%
- Solana ↓20.2%
- Cardano ↓15.6%
- Dogecoin ↓13.1%
- Avalanche ↓22.0%
- Polkadot ↓22.0%
- Terra ↓64.1%
- Shiba Inu ↓19.3%
- Tron ↑11.5%
- Polygon ↓14.9%
- NEAR Protocol ↓15.2%
- Cronos ↓20.0%
- Litecoin ↓19.2%
- UNUS SED LEO ↓3.86%
- FTX Token ↓13.4%
- Bitcoin Cash ↓17.8%
- Uniswap ↓8.9%
- Chainlink ↓20.7%
- Algorand ↓9.5%
- Cosmos ↓21.3%
- Stellar ↓14.1%
- Ethereum Classic ↓10.5%
- Monero ↓18.2%
- ApeCoin ↓35.7%
- VeChain ↓14.8%
- Internet Computer ↓14.5%
- Hedera ↓17.5%
- Filecoin ↓19.5%
- The Sandbox ↓17.3%
- Decentraland ↓22.9%
- Tezos ↓15.0%
- Theta Network ↓20.1%
- PancakeSwap ↓20.8%
- EOS ↓15.7%
- THORChain ↓20.8%
- Axie Infinity ↓11.0%
- Aave ↓22.1%
- Fantom ↓26.2%
- Flow ↓12.5%
- Helium ↓18.9%
- Klaytn ↓26.6%
- Zcash ↓20.5%
- BitTorrent-New ↓13.5%
- Waves ↑1.1%
- Huobi Token ↓11.6%
- Convex Finance ↓7.4%
- Bitcoin SV ↓12.6%
As you can see, only two of the top 50 cryptos – Tron (TRX) and Waves (WAVES) have actually gained in value over the last week, and only Tron is up substantially.
Of course, that doesn’t mean you should trade all your ADA for TRX, even if it’s one of these bad boys (which you can’t get anywhere near MSRP anyway – if you can get them at all – thanks to all this phony-baloney “supply chain” nonsense).
Taking the above list and sorting it by value loss – from least to most – you can see that Cardano is doing pretty well:
- Tron ↑11.5%
- Waves ↑1.1%
- UNUS SED LEO ↓3.9%
- Convex Finance ↓7.4%
- Uniswap ↓8.9%
- Algorand ↓9.5%
- Ethereum Classic ↓10.5%
- Axie Infinity ↓11.0%
- Huobi Token ↓11.6%
- Flow ↓12.5%
- Bitcoin SV ↓12.6%
- Dogecoin ↓13.1%
- FTX Token ↓13.4%
- BitTorrent-New ↓13.5%
- Stellar ↓14.1%
- Internet Computer ↓14.5%
- VeChain ↓14.8%
- Polygon ↓14.9%
- Tezos ↓15.0%
- NEAR Protocol ↓15.2%
- Cardano ↓15.6%
- EOS ↓15.7%
- XRP (Ripple) ↓16.1%
- Ethereum ↓16.4%
- BNB (Binance Coin) ↓17.0%
- The Sandbox ↓17.3%
- Hedera ↓17.5%
- Bitcoin Cash ↓17.8%
- Monero ↓18.2%
- Bitcoin ↓18.3%
- Helium ↓18.9%
- Litecoin ↓19.2%
- Shiba Inu ↓19.3%
- Filecoin ↓19.5%
- Cronos ↓20.0%
- Theta Network ↓20.1%
- Solana ↓20.2%
- Zcash ↓20.5%
- Chainlink ↓20.7%
- PancakeSwap ↓20.8%
- THORChain ↓20.8%
- Cosmos ↓21.3%
- Avalanche ↓22.0%
- Polkadot ↓22.0%
- Aave ↓22.1%
- Decentraland ↓22.9%
- Fantom ↓26.2%
- Klaytn ↓26.6%
- ApeCoin ↓35.7%
- Terra ↓64.1%
Of the top 50 crypto coins, Cardano is basically in the second tier of performers when it comes to maintaining its value through the current crash.
Again, if you want to sell your ADA to cash out, you can (but probably shouldn’t, even if you bought in at next to nothing several years ago). But if you want to sell ADA to buy other cryptos, there just aren’t that many that have an appreciably better outlook. In fact, there really aren’t any with a better outlook at all.
The ADA metaverse is coming, and your ticket to get in is unlikely to get much cheaper.
Or much more profitable.