Tuesday 4 October 2022
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Cardano Pulls Up 5% In 24 Hours, Unfazed By Vasil Hard Fork Delay

Cardano (ADA) had no problems pulling off a 5% spike in roughly 24 hours despite the delay of the Vasil Hard Fork upgrade. Analysts forecasted that the hard fork can help ease Cardano out of its bearish stance but it seems the coin didn’t struggle a bit despite the postponement. Over the past 24 hours, Cardano’s value has jumped by 5% as it now trades at $0.58% in sync with the current crypto market price momentum. Over the past couple of weeks, ADA was seen to have fluctuated wildly as the coin’s being jerked sideways brought about by the mounting buying and selling pressure. In all likelihood, ADA seems to be mirroring the current crypto market trends as it adds and shaves off value. Vasil Hard Fork Moved For August Launch Vasil Hard Fork was supposed to be launched in June and then moved to the end of July. However, IOG, Cardano developer, made some announcements that there will be some delays and the upgrade will be rolled out by August to give way to smooth transitions in networks. According to Kevin Hammond, Technical Managerof IOHK, the purpose of the delay is to ensure that everyone is all set for the upgrade including API developers, stakeholders, and exchanges. This upgrade will set the stage allowing many developers to easily build on Cardano. Still, ADA outlook remains to be optimistic as the network constantly works to improve the network. And this upgrade is expected to push the token up to its next target of $1. Everyone is banking on the likelihood that ADA price will spike once the upgrade is launched similar to what happens following upgrades on other DeFi tokens. Cardano Unable To Keep Up With Strong Crypto Recovery? Cardano has developed a strong community that supports the coin following the rollout of smart contacts. It’s only Achilles heel at this point would be the recent crashes that assailed ADA’s value. Nevertheless, Cardano was able to muster an all-time high back in 2021 when the coin surged at $3.10 but it was a flash in a pan, as the price declined shortly. The plunge continued yet stopped when ADA’s value hit $0.51 as it has been trending with the observation that it may not be able to keep up with the recovery that the crypto market is enjoying at the moment. And so, the bearish sentiment continued for ADA. The CoinMarketCap community has predicted that Cardano will most likely trade at $0.7311 come August 31 of this year. Others forecast that ADA may surge by 19% in August. ADA total market cap at $17.7 billion on the daily chart | Source: TradingView.com Featured image from Cryptocurrency News, chart from TradingView.com

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Dogelon Jumps 6.15% Over The Last 24 Hours – Can ELON Rally Further?

Dogelon Mars (ELON) isn’t just another meme coin. In fact, its crypto team shows off this ERC-20token as a universal currency. The ELON token has been growing aggressively and has seen a phenomenal growth spurt of 6.15% overnight. The ELON meme coin currently trades at $0.0000003618. To date, investors are trying to zero in on the Dogelon Mars (ELON) value at the lower price levels as it forms a symmetrical triangle pattern on the current price charts. As of press time, it looks to form a continuation pattern that could likely invite a breach on the upside. Dogelon Mars (ELON) follows suit with that of Bitcoin, Ethereum, and other cryptocurrencies in the green as the new meme coin on the block has soared by 62%. What’s The Dogelon Mars (ELON) Project? The ELON project is said to have this dream or mission of reversing the damage inflicted by crypto fraud and scams. Evidently, the Dogelon Mars (ELON) community also donates ELON tokens to crypto scam victims. Dogelon Mars (ELON) is inspired by a comic series NFT character. The dog-themed meme coin that is built on the Ethereum blockchain was introduced in the crypto scene on April 23, 2021, but it exploded in popularity when it had its bull run in November 2021. The crypto team also elaborated on their plans for expanding the ELON project. Judging by the technical analysis, the ELON meme coin has been gliding with a symmetrical triangle pattern for over 62 days. This is definitely exciting to watch especially as the tension gyrates in between the support and resistance trendlines. In effect, the bulls and bears are in a constant struggle to see where the price leaps next. Will ELON Make It Or Break It? So, if the bulls remain consistent with the positive price momentum then we will most likely see a breach that may result in an ELON price surge of 78.6%. The target for this bullish perspective is $0.0000006448. In contrast, traders should anticipate that they’re bound to face enormous resistance to the ELON meme coin at the $0.000000502 zone which is mainly due to the swing-low depicted from January 22 of this year which has switched into resistance. Apart from the symmetrical triangle pattern, there is also an appearance of a hammer candle coined as bullish which was seen on a weekly chart. For most parts, the hammer candle can be spotted at the end of a downward trend. However, the strong buying momentum has caused the ELON meme coin price to soar. In the event that Dogelon Mars (ELON) coin beaches the resistance level, the price surge will most likely continue. However, given the influx of macro-economic factors hindering a bull run, it could be a make-it or break-it outcome at this point. Crypto total market cap at $1.08 trillion on the daily chart | Source: TradingView.com Featured image from Watcher Guru, chart from TradingView.com

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MyCointainer Review – How to Make the Most of the Platform to Earn Great Crypto Rewards

In the year of the global recession that influenced the crypto market as well, it’s important to choose a platform that provides you with different options to earn rewards. You must have heard a lot about crypto staking and how popular it is these days, but it is crucial these days not to limit yourself to a single way to earn crypto coins. In this review, we’ll be going over a MyCointainer platform offering a variety of tools for crypto traders, investors, and stakers. Operating since November 2018 and currently with over 150 coins on offer and good functionality organized in a simple and beginner-friendly platform, MyCointainer seems like a decent competitor of some of the best-known crypto exchanges. But is MyCointainer legit at all? How do we know? The platform has recently renewed its license by the Estonian Financial Intelligence Unit to support a safe and transparent community for crypto trading. MyCointainer crypto platform – stay calm and watch your portfolio grow MyCointainer reviews a popular view that earning crypto is limited to a group of insiders who “know”. The platform was created to help beginners who want to invest in crypto earn great profit. And this crypto provider truly walks the talk – no need to spend hours to figure out how to stake tokens on the platform, you’ll be guided through a quite transparent process to get to your rewards. Staking has never seemed easier to me. At first, it was so simple that I even had doubts if I did everything right. I just deposited cash from my bank account and bought the crypto I wanted. Boom, that’s it! Nothing else needed. Now when it’s been 6 weeks since I did it, I can see the profit generated in the wallet over time, and I’m just amazed how effortless it was – no lockups or extra steps – keeping crypto in the MyCointainer digital wallet is enough to get rewards. Isn’t it the best place to stake crypto so effortlessly? In addition to regular online staking, MyCointainer supports cold staking with 20 coins available so far, including CTSI, MATIC, AVAX and NEBL. Cold staking is as straightforward as online staking but definitely requires some extra steps. First of all, you need to purchase a hardware wallet to store your crypto coins. There’s a lot of information out there about storage units, but you will most likely choose one of the two brands – Ledger and Trezor that are two leaders on the market. Then you will delegate your coins to MyCointainer crypto platform to earn extra rewards. The cool thing about cold staking with this platform is that you don’t need to freeze your coins, and they stay in your wallet, so it’s a far more secure way to earn crypto by keeping it away from hackers. MyCointainer app – a great alternative to the desktop version. Buy and sell crypto anytime, anywhere If you’re a digital nomad and are used to making decisions on the go, there’s a MyCointainer mobile app for both iOS and Android so that you could stake, exchange your coins and get access to your..

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Polkadot Increases 4% And Eyes $9, What’s In Store Next?

Polkadot has surged on its chart by 4% over the last 24 hours. In the past week, DOT remained quite optimistic as it registered a 7% increase in its value. The price momentum has held on to bulls at the moment. After moving past the rigid resistance of $8, the bulls have regained strength. Technical outlook also pointed towards a positive price action for DOT. Buying strength of the altcoin has also noted an increase, which has contributed to rise in price. If demand remains consistent in the market, it would be easy for Polkadot to cross its next resistance mark. As Bitcoin continued to inch northwards and was trading above the $23,000 mark, altcoins have been positively affected by this price movement. Currently, the bulls are trying to maintain the recovery mode that DOT had displayed on its chart. The global cryptocurrency market cap today is $1.14 Trillion, with a 0.6% negative change in the last 24 hours. Polkadot Price Analysis: Four Hour Chart Polkadot was priced at $8.20 on the four hour chart | Source: DOTUSD on TradingView DOT was trading at $8.20 at the time of writing. The altcoin has managed to break past its tough resistance mark of $8. This has made the bullish force stronger in the market. The demand for the coin has also helped with the recovery. Overhead resistance for the altcoin was at $9 and incase DOT manages to trade above that level, it could soon enter the double-digit price zone. A fall from the current price level will however make DOT land up at $7.20 first and then at $6.87. Amount of Polkadot traded in the previous session fell slightly indicating that selling pressure might be trying to make an entrance on the chart. Technical Analysis Polkadot registered a downtick in buying pressure on the four hour chart | Source: DOTUSD on TradingView The altcoin was quite bullish on the short time frame. It recently traded in the overbought zone as the coin staged a rally over the last 7 days. The buying strength has remained in the positive and has taken over selling strength too. The Relative Strength Index displayed a tiny downtick in buying pressure, although, the buying pressure remains a lot more than selling pressure at press time. Polkadot was above the 20-SMA line, a sign that the buyers were driving the price momentum of the altcoin. DOT was also above the 50-SMA and 200-SMA, a depiction of increased demand and bullish force in the market. Related Reading | Impressive Rally Puts Bitcoin Above $24,000, But Is $28,000 Still Possible? Polkadot depicted buy signal on the four hour chart | Source: DOTUSD on TradingView DOT’s technical outlook reflected a surge in demand on the four hour chart. Moving Average Convergence Divergence reads the price momentum and possible shift in the price action. MACD underwent bullish crossover and gave rise to green histograms above the half-line indicating bullishness and buy signal. Directional Movement Index reads the price direction and movement on the chart. DMI was positive..

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Binance’s CZ: High Inflation And Recession Fears Will Drive Bitcoin Adoption

It’s safe to say CZ is bullish on bitcoin and crypto’s future. Changpeng Zhao visited CNBC’s Squawk on the Street and flipped the prevalent bearish narrative on its head. In less than 2 minutes. Most of the things CZ said are based on common sense and a basic understanding of market forces, but still, it’s calming to hear a leader of the industry saying them. Especially in this fear-ridden stage of the cycle we’re in. .@binance CEO @cz_binance: The macroeconomics situation will be high inflation, the talk about recession…all of those things drive adoption into #Bitcoin.@CNBC pic.twitter.com/EP8OHwPeAa — Squawk on the Street (@SquawkStreet) July 28, 2022 Notice that even though Binance’s business is dependent on altcoins’ performance, especially BNB, CZ makes a clear distinction between bitcoin and crypto in general. On the other hand, even though the interview is about bitcoin, CZ sneaks crypto here and there. In any case, let’s analyze what Binance’s CEO thinks about the current market conditions and the future of bitcoin and crypto. What Did CZ Squawked On US National TV? The first thing the interviewer was interested in was the way that bitcoin bulls have defended the “20Kish” line. According to CZ, that was “the last peak” so there’s a “psychological barrier” there. So far, bitcoin’s price had never go lower than the previous cycle’s all-time high. This time it was different, probably because of Tesla’s paper hands and the Terra collapse. However, the market ended up defending the 20K line. The interviewer then asked about other factors, like the increase in money supply or bitcoin’s correlation to Nasdaq. According to CZ, those are two relevant factors, but in the end “it’s a mass psychology market” and the last ATH is the barrier. It’s only fair that we quote Binance Academy for an explanation of the psychology of market cycles: “In short, market sentiment is the overall feeling that investors and traders have regarding the price action of an asset. When the market’s sentiment is positive, and prices are rising continuously, there is said to be a bullish trend (often referred to as a bull market). The opposite is called a bear market, when there is an ongoing decline in prices.” Recently, as we regularly do here at NewsBTC, we checked on the famed fear and greed index for insights into the current market sentiment. This is what we found: “Last week, the indicator’s value had risen up to even 34 as the coin’s price saw a recovery rally. However, as the run ended and the crypto once again slumped down, so did the sentiment among the investors. The report notes that this trend indicates participants in the BTC (and wider crypto) market believe that this recent rally was just a fakeout.” BNB price chart on BinanceUS | Source: BNB/USD on TradingView.com What’s the next catalyst? Back to the interview, the next question was about what factor could catapult bitcoin and crypto into their next chapter. Cautiously, CZ said that no one can..

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Solana Appreciated After Latest Development, What Are The Next Trading Levels?

Solana soared in double digits over the last 48 hours. The coin touched the $43 mark before it started to retrace on its chart again. In the last 24 hours, SOL just lost 0.1% of it value and stuck to its bullish price action. Owing to its recent development, Solana has displayed a price rally. Technical outlook of SOL was also bullish at press time. The altcoin witnessed an increase in buying strength. This has been influential in driving the price up. Solana has opened up permanent retail space in Manhattan. These stores are specifically dedicated to all things related to cryptocurrencies. Solana Spaces, CEO Vibhu Norby also mentioned that these physical Solana retail stores have an intention to introduce approximately 100,000 people each month to the Solana ecosystem. He also hinted that there are possibilities to open a virtual storefront soon in the future. A grant from the Solana Foundation has helped the Solana Spaces to set up a shop in Hudson Yards New York. Solana Price Analysis: Four Hour Chart Solana was priced at $42 on the four hour chart | Source: SOLUSD on TradingView SOL was trading at $42 at the time of writing. The altcoin was finally able to break past the $40 price level. Overhead resistance for the coin stood at $47. SOL has struggled to move past that price zone for couple of weeks now. For Solana to continue its bullish momentum, it has to trade above the $43 price ceiling level for a substantial period of time. Nearest support line for the coin was at $40 and $38. If the coin loses the $38 price floor, the next support line awaits the altcoin at $36. Trading volume of Solana registered a small decline which indicated that selling pressure might have been on the rise. Technical Analysis Solana displayed a fall in buying strength on the four hour chart | Source: SOLUSD on TradingView SOL had just touched the overbought price zone, however, as price gently moved south so did buying strength. Although there has been a fall in buyers, buying strength remained higher than selling strength at the time of writing. The Relative Strength Index was slightly below the 60-mark which meant that buyers exceeded sellers on the chart. The price of SOL was above the 20-SMA line, the reading indicated that buyers were driving the price momentum on the chart. SOL was also above the 50-SMA and 200-SMA line, that indicated bullish force in the market. Related Reading | Bitcoin Flirts With Hurdle At $24k, Why It Could Be In Early Days Of Recovery Solana flashed buy signal on the four hour chart | Source: SOLUSD on TradingView The altcoin reflected increased buying pressure on other indicators as well. Moving Average Convergence Divergence pictures price momentum and change in the same. MACD underwent bullish crossover and presented green signal bars which are tied to buy signals for the altcoin. Bollinger Bands depict price volatility and fluctuations in the same. The bands have opened up wide which indicated that price of the altc..

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New Milestone May Be The Kick Dogecoin Needs To Break $0.1

Dogecoin has been enjoying the love being shown to it by prominent figures in the space, such as Elon Musk and Mark Cuban. However, the digital asset has not been faring well since hitting its all-time high of $0.7 in the middle of 2021. The decline in price that followed has seen Dogecoin lose more than 90% of its value since then. But a new development has begun to paint a bullish picture for the digital asset. New Dogecoin Addresses Soar One of the reasons that Dogecoin’s price has continued to suffer has been the lack of interest from the crypto community. Despite its community still pushing the meme coin, it was not seeing enough adoption to push the value of the asset back up. That is, until now, when Dogecoin is beginning to experience a significant uptick in interest. Related Reading | Ripple (XRP) Is Up 190% From Cycle Low, But Will It Ever Reach $3? New data shows that the adoption of Dogecoin is up, given the number of addresses that are transacting on the network. Data from IntoTheBlock shows that the number of new daily DOGE addresses had grown by a whopping 256% in the last day. DOGE price continues to struggle | Source: DOGEUSD on TradingView.com Dogecoin has now hit its highest point in terms of new daily addresses, rising from its 14.4k point to the new 38.43k number. This increase in the number of people using DOGE on the network points to healthy growth for the meme coin. So despite the fact that the price of the digital asset is down by a large margin, it is enticing investors who likely see the current price of the digital asset as a prime entry point. Better Days Ahead Dogecoin has been seeing some good events happen in the last week. Besides seeing a significant jump in its daily addresses, it has also undergone an upgrade that has brought more good publicity to the meme coin. Related Reading | Why Cardano (ADA) May Breakout In A Bull Run To $1 The team announced recently that the Dogecoin website had received an overhaul. Since the meme coin has been getting a lot of bad publicity lately, leading to FUD in its community, it has pulled out all the stops in an effort to combat this. Dogecoin Core also received an upgrade with the software version 1.14.6 going live this week. This was done in a bid to strengthen the network and make transactions more efficient. On the investor side, Dogecoin holders are not faring too badly compared to others in the space. Data shows that the majority of DOGE holders are still seeing profit at 52%. This put 45% in the red and 4% of holders currently sitting in neutral territory. Long-term holder composition also continues to dominate, with 65% holding their coins for more than a year. Featured image from MarketForces Africa, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

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Price analysis 7/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX

Bitcoin (BTC) hit a six-week high above $24,000 on July 29, extending its rally that picked up momentum after the United States Federal Reserve hiked rates by 75 basis points on July 27. If the rally sustains for the next two days, Bitcoin could be on target to close the month of July with gains of more than 20%, according to data from Coinglass. It is not only the crypto markets that have seen a post-Federal Open Market Committee (FOMC) rally. The U.S. equities markets are on track for big monthly gains in July. The S&P 500 and the Nasdaq Composite are up about 8.8% and 12% in July, on track to their best monthly gains since November 2020. Daily cryptocurrency market performance. Source: Coin360The crypto and equities markets have risen in the expectation that the pace of rate hikes by the Fed will slow down in the future. Arthur Hayes, ex-CEO of derivatives platform BitMEX, believes that the Fed will not increase rates further and may eventually return to an accommodative monetary po..

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