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Should you buy ADA as its price is discounted and it can be staked on Apple devices

By:
on Dec 29, 2022
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  • Trust Wallet adds support for ADA staking on iOS.
  • The current state of Cardano is undervalued based on data from Santiment.
  • ADA can increase in value by 22% by January 2023.

Cardano (ADA/USD) became available for staking on any device running iOS through Trust wallet.

Blockchain firm Santiment published a post highlighting that ADA sellers are getting exhausted, indicating that the Cardano price is discounted.

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Cardano is a blockchain platform that utilizes the Proof-of-Stake (PoS) consensus mechanism, features smart contracts, and has seen a high level of utility in Decentralized Finance (DeFi). 

Trust Wallet support and Santiment update as catalysts for growth

In the latest Cardano news, on December 27, 2022, Trust Wallet announced that iOS users could stake the ADA cryptocurrency directly through the application. 

This innovation was implemented through the non-custodial hot wallet for storing cryptocurrencies, and the feature was originally only available on devices running Android. The company published an official guide on its website.

Additionally, Santiment analysts believe that ADA’s value can increase based on numerous indicators.

However, they claim that ADA sellers are getting exhausted, as fewer coins are at a loss on the blockchain on every ADA price downswing. This means that the selling power is in decline. 

Should you buy Cardano (ADA)?

On December 29, 2022, Cardano (ADA) had a value of $0.2454.

ADA/USD Chart by Tradingview

The all-time high of the Cardano (ADA) cryptocurrency was on September 2, 2021, at a value of $3.09. Here we can see a difference of $2.8446, or by 1,159%.

When we go over the Cardano (ADA) 7-day performance, its highest point was at $0.265, while its lowest point was at $0.244531. Here we can see a decrease in value of $0.020469 or by 7%.

In terms of the 24-hour performance, the low point was at $0.242920, while the high point was at $0.255130. This marked a difference in the value of $0.01221, or by 5%.Cardano (ADA) can reach a value of $0.3 by the end of January 2023, which means that investors will be interested in buying ADA.