This week, the #CryptocurrencyCommunity will observe a number of significant events that can significantly affect various sectors of the industry. This was revealed by researchers of the well-known company #CryptoRank . According to them, one of the key events will be the launch of the main Dusk, scheduled for October 15, which will attract the attention of both users and investors to the project. Also important will be token unlocks, including $42.99 million from #EigenLayer $EIGEN
and $49.82 million from Arbitrum, which could create volatility in the market.

These developments come amidst continued activity around challenge and airdrop platforms such as Puffer Finance and BOB, which continues to fuel interest in new reward opportunities in the crypto ecosystem. In addition, the launch of Guild of Guardians' innovative Frostmire platform, October 16, brings a new dimension to the blockchain gaming sector, which is already seeing significant growth and integration of cryptocurrency solutions into the gaming sector.

Planned events on October 18, such as the ETHSofia 2024 meetup, may also help strengthen developer communities and further develop the Ethereum ecosystem. In addition to this, new technological solutions will appear on the market. Developers announced the launch of Cypher test network with early access for DEAI token stackers. In addition, the launch of NodeRental service from the creators of HashAI is planned. It will give users access to the computing power of supercomputers.

Analysts warn that unlocking large volumes of tokens, including $17.27 million from Polyhedra #Network and $11.24 million from ApeCoin, may lead to asset volatility, especially amid strong activity of investors and speculators ahead of key events. In addition, traders should be cautious amid airdrop from Puffer Finance that took place today.
#TrumpDeFi

#AliMartinez suggests that Cardano investors are currently in the depression phase of the market cycle, but hints at potential upside.

Martinez made this assertion in a recent X post analyzing Cardano's price movement. The post features a chart showing the emotional phases of the market cycle superimposed on another chart showing Cardano's price action and investors' emotional reactions to those price moves.

Cardano's current emotional phase

According to the chart, the emotional phases include euphoria, complacency, anxiety, denial, panic, anger, depression, and disbelief. Martinez confirmed that investors are in the depression phase of the market cycle.

This phase is marked by extreme pessimism where many investors dismiss the chances of an asset recovering. During this phase, #investors blame themselves for having invested heavily in Cardano, which has fallen significantly over the years.

Despite this belief, Martinez noted that the depression stage often represents a buying opportunity. He advised against selling ADA at this stage, suggesting that investors should continue to hold and accumulate the coin.

According to the analyst, accumulating ADA during such pessimism could pay off when the market moves into a lack of confidence, labeled as a “loser's rally.”

Overall, Martinez states the importance of taking advantage of market downturns and accumulating ADA when other investors are afraid to invest. He believes that this decision can be profitable when the market phase turns to distrust, leading to a significant rally.

Cardano investors remain confident despite significant ADA losses

Cardano has experienced its fair share of endless market downturns. The coin, which started the year in the top 10 of the rankings, has now dropped out of that position. It is currently the 11th largest cryptocurrency with a market capitalization of $12.09 billion.

#CryptoRank data shows that ADA's price has fallen 41.9% since the beginning of this year and 41.1% in the last six months. $ADA
has lost about 11.3% of its value this month alone, as it is currently trading at $0.3459 per token. Additionally, Cardano has fallen 88.82% from its all-time high (ATH) of $3.10 recorded in September 2021.

The significant drop in ADA price over the years has left many investors in huge losses. According to IntoTheBlock's In/Out of the Money metric, 75% of Cardano addresses are at a loss at the current price. Conversely, 20% of Cardano investors are making a profit and the remaining 5% are at breakeven.

Despite Martinez's #ANALYSIS , IntoTheBlock's data shows that the majority of Cardano investors have demonstrated long-term commitment. 72% of Cardano addresses have held the coin for more than a year, while 25% have held their ADA for 1 to 12 months. The remaining 3% of addresses held the coin for less than a month.
#SUIHitsATH