Category Archive : Cardano

Why it is imperative for Cardano to gather strength right now

Cardano was approaching the next higher low within a symmetrical triangle and was dangerously close to a breakdown from the pattern. A move below $2.07 could spiral into some unwanted losses by opening a route to $1.83.

This outlook was backed by the daily RSI, which was rejected at the mid-line after  a fourth breakout attempt in nearly a month. At the time of writing, ADA traded at $2.13, up by a marginal 0.8% over the last 24 hours.

Cardano Daily Chart

Source: ADA/USD, TradingView

Lower highs at $2.45, $2.37 and $2.14 combined with higher lows at $1.91, $2.07 and $2.12 gave rise to a symmetrical triangle setup on ADA’s daily chart. Currently trading below the 50-SMA (yellow) and 20-SMA (red), momentum continued to side with the sellers as  ADA remained exposed to a breakdown from the pattern.

If ADA is unable to snap a fresh higher low and conceded to downwards pressure below…

Read more at ambcrypto.com

Cardano price paints ‘death cross’ with ADA at two-month lows vs. Bitcoin

Cardano (ADA) has formed a deadly “death cross” on its daily chart against Bitcoin (BTC) — a market signal that’s generally seen as a warning of more downside in the near term.

The ominously-titled indicator kicks in when an asset’s short-term moving average closes below its long-term moving average. In doing so, it calls for technically-minded traders to increase their bearish positions in the market.

 ADA/BTC in trouble

On Tuesday, ADA’s 50-day exponential moving average (50-day EMA; the velvet wave) dropped below its 100-day exponential moving average (100-day EMA; the blue wave). That marked the sixth 50–100 EMA bearish crossover ever on the ADA/BTC daily chart, raising fears of further declines ahead.

ADA/BTC daily price chart featuring Oct 2021 death cross. Source: TradingView

That is partly due to ADA’s earlier price reactions to death crosses. For instance, in September 2020,…

Read more at cointelegraph.com

What Cardano, Polkadot’s opposing price actions mean going forward

With Bitcoin gaining momentum as it closed in on its ATH, several altcoins seemed to shy away from gains. On the contrary, Polkadot recorded a rally of almost 15% in less than three days. The same came on the heels of the parachain auction launch announcement by Founder Gavin Wood. 

Now, a previous article had highlighted how ahead of highly-anticipated upgrades, altcoins tend to see rallies fueled by highly positive social sentiments. Ethereum and Cardano’s trajectories noted something similar too. However, as anticipation died down, the prices consolidated and waited for more hype to pump the tokens.

Notably, DOT too had lost much of its momentum at press time.

However, that wasn’t the only thing that both DOT and ADA had in common. In fact, their price trajectories revealed another perplexing trend. 

Opposite trajectories 

Since August, both Cardano and Polkadot have…

Read more at ambcrypto.com

Cardano Stuck in a Negative Zone; ADA Could Breach Its $2 Support

Despite losing over 30% of its value from its all-time high of $3.05, Cardano is still holding on to its fourth position amongst the leading cryptocurrencies. This could plainly indicate a decreasing buying sentiment across all cryptocurrencies, except BTC, ETH, and BNB. At present, the market capitalization of ADA is almost $70 billion, with a net circulating supply of 73%. 

Cardano has the highest growth prospect in terms of transaction speed and cost of each transaction. It is the leading cryptocurrency using the Proof of stake algorithm of transaction validation. ADA gained global recognition since its launch of the Shelly upgrade, which boasts a much higher decentralization potential. With the latest Alonzo upgrade, users can now use ADA for dApps. 

The peak of $3.10 was also hit a few days before Alonzo’s hard fork release. So whether or not the subsequent sell-off has…

Read more at www.cryptonewsz.com

Should Gene Simmons Take Profits on Cardano (ADA)?

In February, Kiss frontman Gene Simmons tweeted that he had bought $300,000 worth of Cardano (CCC:ADA-USD). A week ago, a Coindesk article estimated that his position would now be worth more than $700,000. That’s a gain of more than 130% in less than eight months. 

Source: Shutterstock

Simmons has become a hardcore crypto trader, with positions in 14 digital currencies, according to a recent interview. He’s apparently in it for the long haul, saying he plans to stay in these positions, including Cardano, for at least 10 years. But is this wise?

Cardano is one of the largest cryptocurrencies in the world. In August, it surpassed Binance Coin (CCC:BNB-USD) to become the third most valuable crypto. It recently fell back into fourth place, as BNB has outperformed ADA. However, on a fully diluted basis, Cardano is still solidly in third place. 

Plutus dAppStore…

Read more at investorplace.com

Binance Smart Chain reaches 100 million unique addresses, overtakes Cardano in market cap

The old order has fallen – or such was the case on Coin Market Cap and Coin Gecko after Binance Coin jumped up to become the third-biggest blockchain by market cap. Nestled right under Ethereum and Bitcoin, Binance Coin’s promotion comes as Binance and the Binance Smart Chain achieved several key milestones.

Taking stock of change

According to Coin Market Cap, Binance Coin’s market cap at press time was $79,251,658,151. Meanwhile, Cardano’s was $70,678,974,674.

Source: CoinMarket Cap

At press time, the price of BNB was $471.19 while ADA was $2.15.

It’s worth noting that on CoinGecko, Cardano came in fifth, below Tether [USDT].

Source: CoinGecko

Meanwhile, Binance Smart Chain was also making waves. The blockchain network announced on 17 October that it had reached 100 million unique addresses.

Read more at ambcrypto.com

Greed Postpones Cardano until Q1 2022 to Launch the Binance

Miami, Florida, Oct. 18, 2021 (GLOBE NEWSWIRE) — The Greed Ecosystem, founded by Grammy Award winning producers Cool & Dre and lead developer Peter Parente (Captain Awesome) will be postponing the Cardano Blockchain launch until the first quarter of 2022. We originally hoped to launch on Cardano closer to the September 12th Date when they released their smart contracts, but the longer they delay to go live because of scalability issues the more concerned our developers became with how the congestion would be handled when live. These issues caused our techs to become more cautious and warned that once live they would still want an ample amount of time to see how the blockchain kept up with processing the volume of all the new smart contracts launching at the same time. That would put earliest launch happening going into the holidays and missing out on the beginning of the bull…

Read more at www.globenewswire.com

ADALend Makes It On “The Essential Cardano List” By IOHK

Input-Output Hong Kong (IOHK) has listed ADALend on their “Essential Cardano List” of projects that are considered part of the ecosystem supporting and providing Cardano users with products and services.

“The Essential Cardano List” gives an overview of the Cardano ecosystem with an accompanying map, a central library of materials, Cardano Foundation, and Emurgo resources, as well as community-generated materials and a list of current stake pools.

ADALend’s inclusion in the list marks a milestone for the project and its plans to broadcast consumer awareness for the project and its features.

About IOHK

Input-Output Hong Kong (IOHK) is a technology firm dedicated to employing peer-to-peer innovations to bring financial services to the world’s three billion unbanked individuals. They are a software development firm that creates cryptocurrencies…

Read more at bitcoinist.com

One Altcoin Will Outperform Solana, Binance Coin, Cardano, Ethereum and Bitcoin This Cycle, Says Popular Crypto Analyst

A widely followed analyst says that one crypto will manage to outperform Bitcoin (BTC) and four big-name altcoins during this bull cycle.

The pseudonymous crypto analyst known as Capo tells his 180,000 Twitter followers that Bitcoin dominance, which is Bitcoin’s market cap compared to the rest of the crypto market, looks to be trending higher, but will likely hit a hard resistance at the 50.00 level.

 

The analyst says that the last time Bitcoin made an all-time high, Bitcoin dominance eventually topped out and plunged, sending altcoins on a new leg up. According to Capo, the same scenario could be around the corner.

“BTC.D update

Not ruling out the move up to 49%-50%

Last time $BTC made a new ATH, dominance kept rising for some days.

Sooner or later it will make new lows. I will hold altcoins until the end of the cycle.”

Source: Capo/Twitter

Once capital starts…

Read more at dailyhodl.com

Cardano Subsidiary Emurgo in Partnership With Pan-African Venture Studio – Announcements Bitcoin News

Emurgo, the investment arm of Cardano, has partnered one of its subsidiaries with Adanian Labs, a pan-African venture studio that is focused on building a platform where African tech start-ups can thrive and access all key resources that allow them to grow sustainably.

Financial and Educational Empowerment via the Blockchain

According to a statement issued by Adanian Labs, the goal of this partnership arrangement is to bring financial and educational empowerment via Cardano’s blockchain platform to the billions who lack these opportunities. “This investment is part of EMURGO Africa, a subsidiary of EMURGO’s new $100 million Cardano ecosystem investment vehicle,” the statement details.

In his comments following the announcement, John Kamara, CEO of Adanian Labs, commends the partnership arrangement which he believes will help sustain economies that have limited…

Read more at news.bitcoin.com

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