Cardano
Price analysis 2/25: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
The U.S. equity markets and Bitcoin (BTC) have rebounded sharply from their Feb. 24 lows while gold has made a retreat from its recent highs. This indicates that investors may be buying risky assets and reducing exposure to assets perceived as a safe haven. Recent reports also suggest that Russian President Vladimir Putin may send a delegation to negotiate with Ukraine and this raises hope that the conflict could end sooner than analysts expect. Some analysts believe that the U.S. Federal Reserve may not raise rates aggressively in March due to the geopolitical situation. Allianz chief economic advisor Mohamed El-Erian believes that the March 50 basis point rate hike is “completely off the table.” Daily cryptocurrency market performance. Source: Coin360 Dr. Raullen Chai, the co-f...
Price analysis 2/23: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT
Bitcoin (BTC) and several altcoins have bounced off their immediate support levels after buyers attempted to arrest the current decline. Bloomberg Senior Commodity Strategist Mike McGlone highlighted in a recent Tweet that Bitcoin was trading roughly 20% below its 50-week moving average and such discounted levels have “often resulted in good price support.” The bearish price action of the past few days does not seem to have deterred the institutional traders from accumulating at lower levels. According to CoinShares’ Feb. 22 “Digital Asset Fund Flows Weekly” report, institutional investors pumped about $89 million into Bitcoin funds between Feb. 14 and Feb. 18, taking the total inflows in the current month to $178.3 million. Daily cryptocurrency market performance. Source: Coin360 Crypto t...
Singapore-based crypto exchange Bitrue to debut ADA base pairs
The Singaporean crypto exchange intends to introduce ADA as a base currency for tokens, including SOL, AVAX, and MATIC Bitrue has shown commitment to advancing growth in the Cardano network through a series of initiatives Singapore-based Bitrue crypto exchange, popular with Ripple’s XRP, has become the latest entity in the crypto sector to launch an initiative to propel the growth of Cardano. The crypto exchange announced yesterday that it would be adopting Cardano’s ADA as the sixth spot trading base currency. With the announcement, the first ADA pairs will go live tomorrow, 24th February. These will include pairs for ETH, SHIB, XDC, MATIC, SOL, AVAX, LTC, GALA, ICP, and MANA. Users will gain the ability to use a flurry of features that come with the said trading pairs – such ...
BSC whales have been taking up Cardano (ADA) despite the price not looking up
The largest BNB whale recently acquired in excess of 5.1 million worth of ADA BSC whales have also been dabbling in Dogecoin and ALPHA tokens On-chain monitoring tool WhaleStats revealed that the biggest BNB whale added $5.1 million worth of ADA to their portfolio on Sunday. The blockchain service, which tracks the top hodlers on the BSC and the tokens they own, published the information on its BSC-focused Twitter account @WhaleStatsBSC. More specifically, the giant investor copped 5,367,075 ADA tokens for a price of $5,106,208. To note is that the tokens in question are ADA BEP20 tokens, which exist purely on the BNB Chain. They are not actual ADA (Cardano native) tokens but rather tokens tied to ADA’s price on Binance’s chain, meaning such tokens cannot be transferred t...
Cardano Foundation’s promotional bug bounty program commences
The updated program to identify vulnerabilities started on Monday and will run for six weeks The lowest bugs spotted will attract a reward of $800 and the critical ones $20,000 Cardano Foundation, the non-profit entity that is mainly responsible for Cardano’s path, last week announced the doubling of rewards for users that identify bugs on the network. The Swiss-based organisation shared an update on Hackerone that hackers who spot potential vulnerabilities will pocket double the bounty offered previously. “Hello hackers, we are excited to let you know that we are running a promotion for the next 6 weeks on all assets, it will run from Monday 14th February 2022 until Friday 25th March 2022 and our payouts for valid reports have DOUBLED,” the Cardano Foundation Team w...
Price analysis 2/2: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX
Bitcoin (BTC) rose above $39,000 on Feb. 1 but the sharp fall in the shares of PayPal may have resulted in aggressive selling by the short-term traders. However, in the long-term, large investors seem to be viewing the decline as a buying opportunity. On-chain monitoring resource Whalemap said that whales holding between 100 to 10,000 BTC have accumulated during the recent decline. Fidelity recently released a paper dubbed “Bitcoin First,” which highlights that Bitcoin is the most “secure, decentralized form of asset” and is unlikely to be overtaken by any of the altcoins “as a monetary good.” The report said that Bitcoin combines “the scarcity and durability of gold with the ease of use, storage and transportability of fiat.” Daily cryptocurrency market performance. Source: Coin360 I...
Cardano has established a bearish trend, crypto analyst forewarns
A popular crypto analyst has projected that BTC would drop below $30k before it eventually bounces above $40k. He also tips off that Cardano’s ADA has carved a clear bearish path and could fall towards the support at either $0.80 or $0.65. Capo, a pseudonymous crypto analyst on Twitter, has told 240,000-large following that crypto assets are yet to come out of the bearish run. Change of tune on the leading cryptocurrency The analyst was initially bullish on Bitcoin, predicting that it would first rally beyond 40k before potentially seeing a bearish outturn. However, he has now changed his view and instead sees the flagship cryptocurrency directly plunging. “Whales are adding supply and removing bids below the current price. It seems that it will go just straight down without to...
Cardano network at record capacity due to SundaeSwap launch, but not all users hail it as a success
According to both Cardano Blockchain Insight and pool.pm, the Cardano (ADA) network has maintained record capacity for nearly two weeks due to the launch of decentralized exchange, or DEX, SundaeSwap, the first of its kind to go live on Cardano. At the same time, the total value locked for the ADA blockchain reached a record of approximately $80 million, despite the recent fall in the token’s price from the ongoing down market. The current average blockchain load of the network hovers at 93.19%, which means that 93.19% of its blocks are being filled. In context, the metric amounted to only 32.49% on New Year’s Eve. The number of ADA wallets is also on the verge of breaking the 3 million mark. Many ADA enthusiasts took to social media to celebrate the milestones. However, t...
Price analysis 1/26: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOGE, DOT, AVAX
Bitcoin (BTC) and most major altcoins have bounced off their strong support levels but could the rally sustain to the extent that traders feel confident that a bottom in place? Bloomberg Intelligence senior commodity strategist Mike McGlone said that Bitcoin’s price is “about 30% below its 20-week moving average,” roughly at the same position, which had led to bottom formations in March 2020 and July 2021. Although Bitcoin has corrected sharply in January, the exchanges’ balances dropped from 2.428 million Bitcoin on December 28 to 2.366 million Bitcoin on Jan. 24, according to data from CryptoQuant. This indicates that investors may be stashing away their recent purchases safely. Daily cryptocurrency market performance. Source: Coin360 However, it may not be a V-shaped recovery for ...
Price analysis 1/21: BTC, ETH, BNB, ADA, SOL, XRP, LUNA, DOT, AVAX, DOGE
Bitcoin (BTC) and most major altcoins continue to witness a bloodbath on Jan. 21 and the result of the most recent downturn has been a $200 billion reduction in market capitalization. A new report by Huobi Research, in collaboration with Blockchain Association Singapore, forecast Bitcoin to enter a bear market in 2022. The liquidity tightening measures undertaken by the U.S. Federal Reserve and other central banks across the world and the regulatory action by authorities could play spoilsport and keep crypto prices under check. Daily cryptocurrency market performance. Source: Coin360 The calls for a bear market have not shaken up the resolve of MicroStrategy CEO Michael Saylor who is determined to hold on to the company’s Bitcoin holdings. Saylor said in a recent interview...
Crypto market sees red ahead of weekend – Bitcoin and Ether down more than 7.50% on the day
For the second time in two weeks, Bitcoin has fallen below $40k, this time coming closest to the $38k support The crypto market crashed during today’s morning session in its entirety, with dollar-pegged stablecoins being the only survivors. Data provided by CoinMarketCap indicates that Bitcoin, which had gained towards $43,000 on Thursday, fell to a six-month low of $38,560. At the time of publication, the pioneer crypto coin is trading below $39k, having shed 7.68% in the last 24 hours. Along with Bitcoin, Ethereum is also feeling the blow to the market. In the past 24 hours, the second most valuable digital asset dipped to a $2,827.7o low. At the time of press, the coin is changing hands slightly above that figure, at $2,880.22, but still down 8.34% on the day. Altcoins in the red ...
Blockchain assessment: How to assess different chains?
With so many blockchain networks appearing all the time, new or even experienced crypto enthusiasts may feel overwhelmed when it comes to deciding which are the best to invest in. In this guide, we’ll outline the most important aspects of any blockchain project, and why one should pay close attention to such details when assessing the different chains on the crypto market. Use case Arguably the most important part of any blockchain project is its use case. What is the project’s reason for existing? Is the project here to enhance payment processing? To improve on a business supply chain or to entertain users? There’s technically no such thing as an invalid use case, but some are certainly more applicable than others. For example, a project meant to assist millions in acquiring food is likel...
