Category Archives: Cardano

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Cardano (ADA) has created a lethal “death cross” versus Bitcoin (BTC) on its daily chart – a market indicator that is typically seen as a warning of additional downside in the near future. When an asset’s short-term moving average closes below its long-term moving average, the ominous-sounding indicator activates. As a result, it encourages technically savvy traders to expand their negative bets in the market. 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). This is owing in part to ADA’s previous pricing responses to death crosses. For example, after painting a 50–100 EMA bearish crossover in the market in September 2020, the Cardano token’s price plummeted about 38.50 percent versus Bitcoin.

This week started on a positive note for most of the cryptocurrencies, after quite a negative week, where most coins reached their record lows this year. EOS is the leader of today’s price gain, trading at $7.30 this morning, compared to $6.50 last week. Stellar Lumens settled at the $0.22 mark, and Cardano was up by 5% this morning, trading at around $0.145. Bitcoin has also recovered, however at a slower pace than other altcoins, with a 3% increase over the weekend.

London’s Google head office has sent an invitation to Cardano company to start discussing the cryptocurrency and the advantages of using Cardano technologies. At this meeting, the Cardano founder, Charles Hoskinson, presented the methodology behind Ouroboros algorithm, which is similar to the Proof of Stake protocol. Both sides agree, that potential future partnership of the companies will help create new technologies and encourage the general development of the crypto industry.

The last few days were very stressful for all investors in cryptocurrency, as we saw a steady decline of most of the coins. This morning, however, started on a more positive note as Bitcoin showed a healthy gain of 18,88%. Other coins also picked up on this trend, as Neo is up 47,79%, NEM: 44,07%, Ethereum around 25%, Ripple: 17% and Cardano: 20,01%.

The price of Bitcoin surged 8% in price, Ethereum increased by 10% and Cardano rose by 15% within the past 24 hours, unlike Ripple that proved a poor performance within the past few weeks.

Most of the investors suffer losses due to continuous plunge in crypto market, however 6 of the top 10 crypto coins are showing an increase in the past month: Ethereum 22%, Ripple 38%, Cardano 23%, NEO 34%, NEM 17% and Stellar 56%.

Cardano’s price has rocketed by 1500% from $0.03 to $0.41 in just a few months with a market cap estimated at $13.11 billion. Such a rapid growth shows a good potential for the future of this token, according to the CCN portal.