Looking at the crypto market, most coins are slightly in the red. Cardano ADA is down by 11% after that pump from Coinbase Pro listing; Coinbase.com has not announced anything yet, but we should expect another pump to occur when they do since that is a bigger platform. The announcement could be delayed for a while because we have no idea when Coinbase.com will add ADA, and they might wait till after the Goguen mainnet. But still, other projects that have been listed on Coinbase Pro were listed on Coinbase.com after a few days; it is only to wait and see what happens to Cardano ADA.
Cardano ADA did drop by about 11%, but it is expected that it will climb with any big random announcement also leading up to the official Goguen mainnet launch. ADA has many bullish things in store for it; lots of major partnerships, lots of projects will be launching on the Cardano blockchain.
We have all reasons to be very bullish on Cardano in the long term, but the short term is very unpredictable. We could get major dips in the short term at any time, which is why it is advisable to do Dollar Cost Averaging. You buy the dips whenever they happen and spread out your purchases to get a lower buy-in average.
There are some bullish signals for Chainlink; they are getting into the NFT space in a big way. Ethereum, on the other hand, is suitable for short-term investment; it has layer two coming out by the end of March, which will also give way for the launch of Uniswap Version 3. This will hopefully help boost the price of Ethereum, especially as we have stimulus cheques coming out and other big things as well.
Ethereum is relatively undervalued at the moment, primarily because of those gas fees. These gas fees have helped competitors like Cardano and BNB rise very quickly. With the reduction of those Ethereum gas fees, Ethereum price will be rising again as demand picks up, especially with the launch of the Uniswap version 3. The price of Ethereum would have hit $3,000 by now if it was not for the gas fee problem, but that also gave an opportunity for other competitors to boost in price.
Ethereum has a Solution coming out in July, an update for the Ethereum network that will not only reduce the gas fees but will also make Ethereum deflationary. Son Ethereum tokens will be burned with every transaction.
