Category: ada

Cardano, Polkadot and Four Additional Altcoins Are Set To Explode in 2022, According to Crypto Trader Austin Arnold

Cardano, Polkadot and Four Additional Altcoins Are Set To Explode in 2022, According to Crypto Trader Austin Arnold

Crypto trader and Altcoin Daily host Austin Arnold thinks six major altcoins are gearing up for massive rallies in the next year.
In a recent crypto update, the YouTube star tells his 1,040,000 subscribers that Ethereum layer-2 (L2) scaling solution Polygon (MATIC) is gaining momentum after landing a partnership with the $20 billion gambling company DraftKings.
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Cardano price paints 'death cross' with ADA at two-month lows vs. Bitcoin

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 troubleOn 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: TradingViewThat is partly due to ADA’s earlier price reactions to death crosses. For instance, in September 2020, the Cardano token’s price dropped almost 38.50% against Bitcoin after painting a 50–100 EMA bearish crossover.Similarly, a death cross pattern on May 12, 2019, subsequently saw a 62.50% price decline.ADA/BTC daily price chart featuring May 2019 death cross. Source: TradingViewNonetheless, the likelihood of an immediate selloff remains relatively low. That is mainly because ADA’s daily relative strength index (RSI), which alerted the token’s status against Bitcoin as oversold, is below 30. Traders typically treat an excessively sold RSI as their cue to enter the market.For instance, in May 2019, the death cross’s formation coincided with the RSI treading below 30. Later, the price bounced by over 30% to retest the 50-day and 100-day EMA waves as resistance, underscoring traders’ intention to buy oversold cryptos.Applying the same fractal to the current price action, one can expect the ADA/BTC rates to bounce back, especially as it drops to its two-month-low at 0.00003372 BTC runs down to retest a five-month-old support area defined by 0.00003192–0.00003075 BTC (the red bar in the first chart above).That inverse Cup and HandleA weakening ADA/BTC rate merely reflects Cardano’s clumsy performance against the U.S. dollar in recent sessions versus Bitcoin, which has surged massively against the greenback in the same timeframe.For instance, Bitcoin’s month-to-date gains against the dollar sit around 43%. In comparison, Cardano’s price has slid by over 6% during the same period. But further weakness could be expected, according to an inverse Cup and Handle pattern taking shape on its dollar-quoted charts. ADA/USDT daily price chart featuring inverse cup and handle pattern. Source: TradingViewIn detail, inverse Cup and Handle patterns appear when the price forms a large crescent shape followed by a modest upward retracement. Analysts consider them as bearish reversal indicators, for they tend to send the price down by as much as the maximum distance between the Cup’s top and its right-hand’s bottom level if the price breaks below the pattern’s support.Related: Buy the rumor… buy the news? BTC price passes $63K as US Bitcoin ETF launchesADA’s recent price action fits the inverse Cup and Handle description, with the price now looking to break below the structure’s resistance line near $1.97. As a result, the downside target price is the $0.772–$0.820 area if Cardano confirms a bearish breakout.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Cardano Loses 3rd Spot On Crypto Top 10, Why It May Drop Even More

Cardano Loses 3rd Spot On Crypto Top 10, Why It May Drop Even More

Cardano has now lost its spot at the 3rd place on the crypto top 10 as its price had refused to move in accordance with the broader crypto market. While other altcoins had rallied alongside bitcoin, ADA had remained mostly stagnant.
Despite the hype created around the project when smart contracts capability was launched last month, support has dwindled for the asset. Its race above $3 had seen it overtake Binance native token BNB to clench the top 3 spot. But ADA has once again surrendered this position as it dropped to 4th place while BNB surged past, beating ADA by $9 billion in market cap.
ADA May Still Suffer Losses
The Cardano project has not had any market-moving news in recent times. There has been news regarding the project investing in smaller Cardano-focused startups. However, nothing has created hype around the project.
Related Reading | Cardano Investors In Japan Come Under Fire For $6 Million In Underreported Taxes
Its foray into the decentralized finance (DeFi) space has been delayed because although the blockchain is now capable of supporting smart contracts, building the protocols required to provide decentralized finance services to users takes time to build. Developers have been working hard on deploying their decentralized applications (DApps) on the network and the Cardano Foundation has provided support to these projects, but it will take a while before there are enough working DeFi protocols on the blockchain to draw in users to carry out DeFi activities on the network.

ADA price trading at $2.13 | Source: ADAUSD on TradingView.com
If the digital asset does not see any significant improvement in support and momentum, then ADA may run the risk of falling below $2. Its community boasts some of the strongest hold sentiment with over 70% of its total supply currently staked. However, without significant amounts of money coming into the asset, it is likely to continue a downtrend that may see the price retest the $1.7 range.
Cardano Founder Begins Africa Tour
Bitcoinist reported last week that Cardano founder Charles Hoskinson was getting ready to begin a tour through Africa. Hoskinson confirmed that the tour had kicked off on October 15th when he posted a tweet that showed him appearing on a panel in South Africa, where the tour was scheduled to begin.
Related Reading | SpaceBudZ Marks First NFT Sale Above $1 Million On Cardano Network
Hoskinson, in conjunction with the Cardano Foundation, plans to visit various startups on the continent that are building on the blockchain. They will provide funding and education, as needed, to this project and help to guide them through deploying on the Cardano network.
This has although not been the kind of needle-moving news that the digital asset needed because, despite the kick-off of the tour, ADA’s price has not recorded much upward movement. Momentum remains down as the price continues to struggle around the $2.1 price range.
Featured image from Euronews, chart from TradingView.com

Top Crypto Analyst Unveils Massive Polkadot Prediction, Issues Cardano, Solana and VeChain Price Alert

Top Crypto Analyst Unveils Massive Polkadot Prediction, Issues Cardano, Solana and VeChain Price Alert

Crypto strategist Michaël van de Poppe is extremely bullish on Polkadot (DOT), while warning several popular altcoins may face further corrections.
The trader and analyst tells his 442,000 Twitter followers that DOT appears “programmed” to rise above $100 in the current market cycle.
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Three Altcoins Now Bullish Against Bitcoin As Top Cryptocurrency Targets $60,000: Analyst

Three Altcoins Now Bullish Against Bitcoin As Top Cryptocurrency Targets $60,000: Analyst

A popular crypto strategist and trader says he expects three altcoins to sizzle as Bitcoin (BTC) pushes toward its next resistance level.
The pseudonymous analyst known in crypto circles as Capo tells his 177,400 Twitter followers that he expects Bitcoin to soon reach $60,000 before shattering $100,000 in the months ahead.
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SpaceBudZ Marks First NFT Sale Above $1 Million On Cardano Network

SpaceBudZ Marks First NFT Sale Above $1 Million On Cardano Network

NFTs have been live on the Cardano network for a while. Before smart contracts capability had debuted on the network, users were able to mint and sell NFTs without needing a smart contract address. This has been one of the pulls towards the network and users have taken full advantage of this capability to trade their NFTs on the blockchain.
However, compared to leading NFTs blockchain Ethereum, Cardano NFT sales have been minute. Where the Ethereum network has seen NFTs sold for as high as $69.3 million in the case of Beeple, Cardano had yet to see its first million-dollar sale. This is mostly due to the network rolling out NFT capability later than Ethereum and having less interest from buyers.
Related Reading | Cardano Investors In Japan Come Under Fire For $6 Million In Underreported Taxes
SpaceBudz Sells First Million-Dollar NFT
The NFT market on Cardano has boomed ever since smart contracts capability was introduced on the blockchain. Although these smart contracts are not required for minting NFTs, they brought more users to the network, which, in turn, brought more interest into NFTs minted on the platform. Various artists have released and sold their NFTs on the blockchain, and now, SpaceBudz has successfully recorded the first Cardano NFT sale above $1 million.

ADA price trading at $2.11 | Source: ADAUSD on TradingView.com
SpaceBudz is an NFT platform that is built on the Cardano blockchain. The SpaceBudz consists of 10,000 unique NFTs which users can personally own after they purchase it. The project broadcasts its sale on Twitter via a bot that reports every listing and sale of a SpaceBudz NFT.
On Tuesday, the SpaceBudzBot account reported that SpaceBud #9936 had been sold for 510,000 ADA. Going by ADA’s current price of $2.11 at the time of this writing, the NFT sold for $1,076,100. A record sale on the Cardano network.

SOLD – SpaceBud #9936 was bought for 510000 $ADA https://t.co/E3605AnMs0 #spacebudzsold pic.twitter.com/W6Jml5mbHt
— SpaceBudzBot (@spacebudzbot) October 12, 2021

Cardano Celebrates Ada Lovelace
Cardano’s native token ADA is named after one of the earliest programmers on record. Ada Lovelace is one of the women who pioneered software programming after the first computers were used in the 1940s. Members of the community refer to themselves as Lovelaces, an ode to the mathematician.
IOHK joined the scientific community in celebrating Ada Lovelace Day, which commemorates the contributions and achievements of women in STEM fields.

Today is Ada Lovelace Day – celebrating one of the earliest tech pioneers & programmers!
It is an international celebration of the achievements of women in science, technology, engineering & math, to increase the profile of women in STEM #Cardano https://t.co/bp1X6rC79z pic.twitter.com/tCgcvaoZHZ
— Input Output (@InputOutputHK) October 12, 2021

Related Reading | FTX CEO Sam Bankman-Fried Reveals Reason Behind Billions Of Dollars Tether Purchase
Cardano Foundation has been making marked contributions to innovation and growth in the science and technology sector, and founder Charles Hoskinson is set to tour the continent of Africa as the foundation invests in startups building on the blockchain in the region. The Africa tour is scheduled to start in South Africa but a departure time has not been announced yet.
Featured image from The Cryptonomist, chart from TradingView.com

Cardano Slips to 5th-Largest Crypto Market Position — ADA Down 30% Since All-Time High Last Month

Cardano Slips to 5th-Largest Crypto Market Position — ADA Down 30% Since All-Time High Last Month

During the second week of October, bitcoin market values have maintained prices between $54K to $57K. Meanwhile, myriad alternative crypto assets have not yet seen the gains the leading crypto asset has enjoyed during the last two weeks. For instance, cardano used to be the third-largest crypto market in terms of valuation, but after losing 4.8% cardano has slid down to the fifth position this past week.
Cardano Drops from 3rd-Largest Crypto Market Cap to 5th-Largest
The digital currency cardano (ADA) has seen some decent gains during the last 12 months as ADA has increased by 1,840.5% year-to-date. Even Kiss frontman Gene Simmons told the world on October 10, why he invested $300K in cardano (ADA) and how it’s paid off for him so far. However, during the last month, ADA is down 18% and 4.8% over the last seven days. ADA’s market cap is not small and just under the stablecoin tether’s (USDT) overall valuation as cardano’s market cap is around $68.1 billion on Wednesday.
Cardano (ADA) on October 13, 2021. ADA is down more than 30% since the crypto asset’s all-time high on September 2, 2021, reaching $3.09 per unit
ADA markets on Wednesday are seeing around $1.9 billion in global trade volume and the crypto exchange Binance currently captures the top cardano trade volume. Tether (USDT) is the top pair with cardano on Wednesday with 58.58% of all ADA trades. This is followed by BTC (10.91%), USD (5.75%), BUSD (5.61%), and EUR (3.89%). The Korean won commands the sixth-largest position with 3.44% of ADA swaps, while ETH commands around 2.69% of cardano exchanges today.

Cardano Prices Down 30% Since All-Time High
Cardano reached an all-time high on September 2, 2021, reaching $3.09 per unit but is now down more than 30% since that day. ADA is currently swapping for prices just above the $2 handle and the crypto asset binance coin (BNB) now holds the third-largest position in terms of market cap. Despite the dip to the fifth position, cardano still captures 2.86% of the entire $2.386 trillion crypto-economy among 10,000+ digital assets in existence.
ADA needs to gain more than 15% in value in order to contend for the third-largest market position — BNB’s $77.7 billion market valuation. The crypto asset’s market cap, however, is only 2.34% lower than tether’s overall market valuation of $69.8 billion. Moreover, ADA is not the only smart contract crypto that has taken a hit in recent times. Solana (SOL) is down 10% this week, terra (LUNA) slid by 18.7%, and Avalanche (AVAX) lost 14.3% this past week.
What do you think about cardano’s market performance this past month? Let us know what you think about this subject in the comments section below.

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$1.9 billion volume, ada, ADA Markets, Alternative Assets, Avalanche (AVAX), Cardano, cardano (ADA), Cardano markets, Cardano Prices, crypto economy, Market Cap, Market Valuation, Solana (SOL), terra (LUNA)

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New Impulse Wave for Cardano? Analyst Michaël van de Poppe Outlines Path Ahead for Third-Largest Crypto Asset

New Impulse Wave for Cardano? Analyst Michaël van de Poppe Outlines Path Ahead for Third-Largest Crypto Asset

Cryptocurrency analyst Michaël van de Poppe is analyzing Cardano’s path forward in the wake of Bitcoin rallying to a new 90-day high above $55,000.
In a new strategy session, Van de Poppe highlights the potential entry points for Cardano on the USD chart and says he believes the crypto asset is close to a bottom.
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Cardano and Five Altcoins Set To Outperform Bitcoin As New Phase of Market Cycle Begins, Predicts Crypto Strategist

Cardano and Five Altcoins Set To Outperform Bitcoin As New Phase of Market Cycle Begins, Predicts Crypto Strategist

A popular crypto strategist and trader says six mid-to-large cap altcoins will likely shine brighter than Bitcoin (BTC) in the coming months.
The pseudonymous crypto analyst known in the industry as Capo tells his 173,000 Twitter followers that he expects big moves from the smart contract platform Cardano (ADA).
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This Is When Traders Can Expect Cardano To Begin Its Breakout, According to Crypto Analyst Benjamin Cowen

This Is When Traders Can Expect Cardano To Begin Its Breakout, According to Crypto Analyst Benjamin Cowen

Widely followed crypto market analyst Benjamin Cowen is plotting a potential path for Cardano (ADA) to break out towards new highs.
In a new video, Cowen tells his 561,000 YouTube subscribers that he anticipated a sideways lull in the market after ADA made a run to $2.50 from its 2020 low of just $0.02.
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