Cardano (ADA) struggles to break above the $0.33 resistance following founder Charles Hoskinson's announcement at the Edinburgh event.
Hoskinson revealed the imminent launching of Midnight, a privacy-focused blockchain developed by Cardano (ADA)'s parent company, Input Output Global.
Investors brushed the recent update as the FTX uncertainty remains in the loop. The market's attention is on the presale token The Hideaways (HDWY) which successfully sold 50% of its presale tokens in the middle of the FTX bonanza.
Cardano (ADA)'s Edinburgh Event is one of the highly-anticipated crypto conventions this year. Founder Charles Hoskinson teased about upcoming network updates days leading to the gathering. This got crypto enthusiasts and analysts excited about the revelations.
However, there's not much to talk about, after all. Cardano (ADA)'s head revealed the imminent release of a new blockchain called "Midnight".
Midnight is a privacy-focused blockchain that operates separately from the Cardano network and will have a native token of its own. The two entities are hosted under the same parent company, Input Output Global, but will operate under different jurisdictions.
Analysts say Hoskinson picked the wrong time to go ahead with a new project as the market still struggles to recover from the FTX crash.
Moreover, new projects will have a tough time competing against in-demand presales like The Hideaways (HDWY). The real estate investment project catapulted to superstar status as investors sought stability from the defunct Sam Bankman-Fried exchange.
Analysts are upfront about their forecast that Cardano (ADA) will not reach $1 this year. As of the latest charts, ADA is failing to break $0.33 with the lack of buyer support.
Cardano (ADA)'s recorded a session high of $0.331 before reverting to the $0.32 zone, showing a restricted trading environment. The Relative Strength Index is also sluggish at 39.8 – there's no consolidation of positive sentiment.
Struggling investors with no way to go from the FTX collapse took a chance on the presale token The Hideaways (HDWY). After all, with a price of only $0.10, they had nothing to lose.
Now, their decision is paying off handsomely. The Hideaways (HDWY) had just successfully sold 50% of its presale tokens in the wake of the FTX crash. It raked more demand compared to Cardano (ADA) which recorded a double-digit decline over the same period.
Due to the sudden spike in investor attention, analysts upgraded their The Hideaways (HDWY) forecast from "Buy" to "Strong Buy." The price is expected to hit a 6,000% ROI by the end of this year.
Aside from capital appreciation, investors are guaranteed a 20% passive income yield. The Hideaways (HDWY) is a real estate investment project that promises upfront returns from rental income.
Anyone can join The Hideaways (HDWY) for as low as $100, invest now and own what looks to be the best crypto investment of 2023.
Website: https://www.thehideaways.io
Pre-Sale: https://ticket.thehideaways.io/register
Telegram: https://t.me/thehideawayscrypto
Twitter: https://twitter.com/hdwycrypto
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