Tag: Cardano

Price analysis 5/19: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 5/19: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Price analysis 5/19: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI May 19, 2021 Retail traders capitulated as Bitcoin and Ether dropped to multi-month lows and technical indicators suggest the markets could remain volatile over the next few days. 45757 Total views 27 Total shares Listen to article Price Analysis Bitcoin’s (BTC) massive bloodbath on May 19 resulted in panic selling across the board. Several major altcoins nosedived between 25% to 50% during the day. The extent of the fall shows that many large traders may have dumped their positions and leverage traders may have been roasted. In a report to its clients on Tuesday, JPMorgan Chase analysts pointed out that institutional investors were abandoning Bitcoin in favor of gold. Considering the volatility ratio of...
Cardano ERC-20 converter nears testnet phase
Altcoins

Cardano ERC-20 converter nears testnet phase

Decentralized finance on the Cardano blockchain is drawing closer to becoming a reality, with a token migration bridge soon to enter the testing phase.According to Francisco Landino, project manager at Input Output Hong Kong, or IOHK — the research and development arm responsible for Cardano — the platform’s ERC-20 migration tool is nearing testnet deployment.In a blog post published on Monday, Landino said that the ERC-20 converter tool will allow the migration of Ethereum-based tokens to the Cardano chain.The planned ERC-20 converter bridge will follow Cardano’s highly anticipated Alonzo hard fork, which is touted to bring smart contract functionality to the network.Arguing for the necessity of the ERC-20 conversion tool, Landino wrote:“Once deployed, users of supported Ethereum tok...
Price analysis 5/17: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 5/17: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Bitcoin (BTC) plummeted to an intraday low near $42,000 today, dropping 35% from its all-time high at $64,849.27. Over the weekend the selling intensified as news that Tesla may have sold its Bitcoin holdings made waves, and even after this was proven to be untrue, Bitcoin’s market dominance had still been pulled down to a three-year low below 40%. While this decline in Bitcoin may have scared new investors, stock-to-flow creator PlanB said the performance of the current bull phase is still better than the 2017 bull run. PlanB also warned investors to expect several 30% dips during Bitcoin’s climb to a new all-time high.Daily cryptocurrency market performance. Source: Coin360Although the long-term story remains intact, the sharp bearish moves in Bitcoin on every minor negati...
Cardano smashes $2 resistance as bullish signals enter for Bitcoin price
Altcoins

Cardano smashes $2 resistance as bullish signals enter for Bitcoin price

Cardano's ADA token neared $2.40 on May 15 as a select few altcoins bucked the bearish mood to steal the spotlight from a weak Bitcoin (BTC).ADA/USD 1-hour candle chart (Binance). Source: TradingviewADA in price discovery as $2.50 nearsData from Cointelegraph Markets Pro and TradingView showed ADA/USD climbing through the weekend to hit a record $2.38.Traders had suspected that the long-awaited $2 would come into play in the short term, with Cardano bulls taking down resistance in one fell swoop overnight on Friday.With $2 out of the way, price discovery mode was activated, which delivered the new all-time highs before a consolidation period began at around $2.30.As such, Cardano was giving even previously successful altcoins such as Ether (ETH) a run for their money as most tokens sa...
Chance of a price crash increases as Cardano (ADA) futures near $1B
Altcoins

Chance of a price crash increases as Cardano (ADA) futures near $1B

The impressive 816% gain of Cardano's ADA coin in 2021 catapulted the smart contract platform's market capitalization to $61 billion. To fully grasp how far this third-generation protocol has gone, the absolute leader, Ether (ETH), held the same valuation just six months ago.As AD's price evolves, so do its derivatives markets, and the nearly $1 billion in futures open interest poses both an opportunity and a threat for the price. Cautious investors will now question whether the $200 billion in potential liquidations are around the corner, drawing similarities to the 23% crash that occurred on April 17.DeFi is still looking for alternativesThere is no doubt that decentralized finance (DeFi) has been fueling the rally in smart contract-focused cryptocurrencies, and the Ethereum network...
Price analysis 5/14: BTC, ETH, BNB, DOGE, ADA, XRP, DOT, BCH, LTC, UNI
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 5/14: BTC, ETH, BNB, DOGE, ADA, XRP, DOT, BCH, LTC, UNI

The Crypto Fear and Greed Index has dipped to levels not seen since April 2020, indicating that traders are nervous about Tesla backtracking on accepting Bitcoin (BTC) payments, Bitcoin's multi-week technical weakness and U.S. regulator's supposed investigation into the business operations of Binance exchange. This nervousness also led to a massive inflow of 30,000 Bitcoin to the exchanges, the highest number since the March 2020 crash. This suggests some traders are booking profits on their long positions. CryptoQuant CEO Ki Young Ju said that whales have continued to send more coins to exchanges than usual, implying that near-term bearishness may not be over yet.Daily cryptocurrency market performance. Source: Coin360However, popular statistician Willy Woo believes that recovery aft...
Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI
Bitcoin, Litecoin, Price Analysis - Top 10 Crypto

Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

Tesla CEO Elon Musk tweeted on May 13 that the company will stop accepting Bitcoin (BTC) payments for its vehicle purchases, citing “rapidly increasing use of fossil fuels for Bitcoin mining and transactions, especially coal.”  Shortly after the announcement, Bitcoin price dropped by 17% to hit a new local low at $46,000.While Musk’s decision is a short-term blow to the sentiment of the market, it is unlikely to change the course of the crypto markets altogether because the institutional demand for cryptocurrencies remains high. Proof of this came yesterday as Cowen Inc., a 103-year-old bank, announced that it had partnered with Standard Custody and Trust Co. to enter the crypto custody business. Daily cryptocurrency market performance. Source: Coin360Another indication of increasing ...
Cardano nears $2, Nano jumps 125% in firm shrug to Bitcoin bears and Elon Musk
Altcoins

Cardano nears $2, Nano jumps 125% in firm shrug to Bitcoin bears and Elon Musk

Cardano's ADA token, the fourth-largest cryptocurrency by market capitalization, hit new all-time highs on May 13 as bulls refused to follow the broad market downtrend. ADA/USD 1-hour candle chart (Binance). Source: TradingViewADA wows weary tradersData from Cointelegraph Markets Pro and TradingView confirmed new record highs for ADA/USD on May 13, with the pair touching $1.96.The move is impressive and brings Cardano within inches of the psychologically significant $2 landmark. The altcoin had followed many other large-cap cryptocurrencies higher in previous weeks, but May 13 showed a surprising resilience to volatility, as most tokens fell in line with a reversal in Bitcoin (BTC).With ADA/USD starting 2021 at just $0.16, excitement was clear among traders."Thanks for playi...
Cardano Price Analysis: Is ADA Heading For a New All-Time High?
Analysis, Price Analysis - Top 10 Crypto

Cardano Price Analysis: Is ADA Heading For a New All-Time High?

Cardano is up by roughly 10% in the past 24 hours and could be set to reach a new all-time high around $2 soon.The cryptocurrency market has performed excellently in the past 24 hours, with Ethereum setting a new all-time high above $4,300. Cardano (ADA) also rallied past the $1.80 level and almost reached a new all-time high before slightly retracing.Trading close to the high values above $1.80 is an achievement, but it also led the cryptocurrency to dip to the $1.60 levels yesterday. However, volatility near the all-time high price should be expected, and since touching the lows yesterday, ADA has gained momentum and could set a new all-time high again soon. There's that important support level in action. #Cardano $ADA pic.twitter.com/GD70JBrc1x — Card₳no "Moon" Dan 🇺🇸 🇯🇵 🇪🇹 🇹🇿 (@Cardano...
Price analysis 5/10: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK
Altcoins, Bitcoin, Litecoin

Price analysis 5/10: BTC, ETH, BNB, DOGE, XRP, ADA, DOT, BCH, LTC, LINK

The astronomical rally in Ether (ETH) is not showing any signs of slowing down. The bulls easily cleared the overhead hurdle at $4,000 today, which also pushed the biggest altcoin’s market dominance to over 19%. It is not only Ether that is witnessing sharp buying from traders. Litecoin (LTC) and Cardano (ADA) have also risen new all-time highs, suggesting a broad-based altcoin rally. However, Bitcoin (BTC) seems to have lost its momentum as it continues to struggle near the $60,000 mark. That has pulled its market dominance to below 44% for the first time since July 2018. Daily cryptocurrency market performance. Source: Coin360However, the recent underperformance of Bitcoin has not shaken the long-term bulls. Morgan Creek Capital Management founder and CEO Mark Yusko recently said in...