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Category: Cardano

Cardano (ADA) And Dogecoin (DOGE) Record Highest Gains As Crypto Market Surges

Cardano (ADA) and Dogecoin (DOGE) have gained fast as the crypto market surges. The last 24 hours continue to be an interesting one for the crypto market as prices have surged across the board following a bullish run-up. Top coins like Bitcoin and Ethereum have seen massive price gains so far. The entire crypto market cap has seen over $1 billion added to it in just 24 hours. As the run-up continues, altcoins like ADA and DOGE continue to show tremendous market movements. The price of both digital currencies has jumped over 10% each and continues to cruise higher as investors come back into the market. Bull traders have now taken over the market as bears record increasing losses. Related Reading | Cardano Aims To Facilitate Users With Smart Contracts Shorts liquidations across the markets have crossed $1 billion, with liquidations in Dogecoin being the fourth-highest so far in the market. Altcoins continue to see recovering trends as most of the market turns towards green in this surprising turn of events this week. Dogecoin, Cardano Continue Upward Trend Dogecoin so far continues to lead the charge, posting a 13% price gain in the last 24 hours. DOGE which had continued to see downwards trends as the hype around the coin and ‘Dogefather’ Elon Musk died down has now broken out of the rut it seemed to have been stuck in for the better part of last week. DOGE price moved from trading at $0.195 to breaking above $0.20, to be sitting at the current price of $0.2244 where it now trades currently. Crypto market gains over $1 trillion in 24 hours | Source: Crypto Total Market Cap on Cardano (ADA) has continued in this vein to post gains of over 11% as the current rally rages on. The digital asset which had been trading for $1.20 had a tremendous run-up the saw the price hit $1.32 in a matter of hours. Both digital currencies continue to show double-digit price gains in the market. Dogecoin market cap now sits at $29 billion as Cardano market caps experience gains to put it at $43 billion. Bullish News Moving The Crypto Market Cap The past week has seen more support coming out for bitcoin and other cryptocurrencies. News like billionaire Elon Musk confirming that Tesla and SpaceX hold bitcoin on its balance sheet has proven to be very bullish. The market had shown positive sentiment as the price of bitcoin had gone up after the announcement. Breaking $32,000 and maintaining a momentum that saw the price going past $34,000. Related Reading | SpaceX Has Bitcoin On Its Balance Sheet, Elon Musk In the same conference, Musk had confirmed that he personally held Bitcoin, Ethereum, and Dogecoin. Proving that the billionaire had never sold his holdings in the meme coin. Musk had also confirmed that while he may pump coins, he has never dumped his coins. Hot on the heels of this came the news that Amazon was working towards integrating bitcoin into its platform. With cryptocurrencies being speculated to be a payment method for the e-commerce giant, sentiments had grown in favor of the crypto market and as such, investors seem to have returned to the crypto space with a renewed vigor. Related Reading | Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO On Sunday, after rumors circulated that an insider from the e-commerce giant confirmed the integration of cryptocurrencies, prices surged as the weekend came to a close. So far, the crypto market has seen continuing support as cryptocurrencies continue to maintain their gained value, and charts across the market remain in the green. Dogecoin and Cardano continue to top the list of gainers in the market. Featured image from Nairametrics, chart from
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Report Reveals El Salvador Plans For Issuing A Stablecoin

El Salvador recently became the first country to adopt Bitcoin as a legal tender in financial transactions, and now it plans to issue a stablecoin. The President, who calls himself “the coolest president in the world,” took the first step to equip his citizens with a digital means of paying for goods & services. Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator The world is waiting for the commencement of his plans by September. Moreover, the law for bitcoin legalization has already been signed. While the wait continues for the execution, the president’s brothers make a bigger plan for the country. From the latest news on the country, it seems that the president’s brothers are planning the development of a stablecoin as they’re already presenting the idea to investors. The news came from the reports of a digital newspaper in Latin America, El Faro. The information has it that El Salvador consumers will use stablecoin for services. Comments From Bukele Brothers According to what the president brothers revealed to investors, the crypto, which they call the “Colon dollar,” will become a reality before 2021 ends. Ibrahim & Yusuf Bukele had pitched the proposal to investors, and the report from the digital newspaper also pointed to the video recordings about it. In the proposal discussion, the brothers told the prospective investors that they’re representing the interests of the El Salvador President. Related Reading | Nifty’s Inc. Partners With Warner Bros To Roll Out A Social NFT Platform The Latin American newspaper had obtained the documents about the proposal, and that’s where they got the details of the discussion. Earlier before now, the Central American government approved the bitcoin law, which the El-Salvador president initiated. The law centered on making Bitcoin a legal tender in the country and thereby mandating businesses operating in the State to accept it. Bitcoin finally steps out of the bearish zone and follows a bullish momentum | Source: BTCUSD on With the approval of this law, residents can use Bitcoin to pay for goods & services come September 2021. Also, the residents can pay taxes and other bills using bitcoin. Will El Salvador Issue A StableCoin? Concerning the plan to create a stablecoin in El Salvador, the government spokesperson revealed that it is no longer in play. But another source who wishes to remain anonymous stated that the plan is still on track. Related Reading | Binance CEO Changpeng Zhao States, “Compliance Is A Journey.” Also, the digital newspaper revealed that the brothers to the El Salvador President have been meeting some representatives from Algorand, Cardano, and WhizGrid. These meetings have always occurred on different occasions. All these indicate that the brothers are very much interested in a stablecoin for El Salvador. While we can’t say with confidence that the plan is still in play, the launch of Bitcoin as a legal tender is still in play. Also, given the several meetings between the brothers and different blockchain representatives, there might still be some upcoming developments in the pipeline. Featured image from CoinDesk, chart from
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ADA Near Oversold Levels, Why Cardano Could Retake Previous Highs

Cardano (ADA) has been one of the most resilient coins in the crypto market. While Bitcoin has experienced a 50% correction and has revisited the yearly open, ADA has traded well above its previous lows. At the time of writing, ADA trades at $1,14 with a 2.7% and 4.8% loss in the daily and weekly charts, respectively. The cryptocurrency has managed to make its way into the crypto top 5 by market capitalization after Dogecoin (DOGE) and XRP lost their positions. The latter has been severely hit by the bearish trend and stands at $0,18, while XRP stands at $0,58. At its current levels, Cardano (ADA) recorded a recent Relative Strength Index (RSI), a metric used to the price momentum of a cryptocurrency, low of 27, according to trader Eric Thies. He believes ADA was at a similar low on this metric during March 2020, before the event called “Black Thursday”. As seen in the chart below, last time ADA was at an RSI low, it saw a parabolic increase in its price in the coming months. Thies believes this time it could be more positive, as ADA is resting on former ATHs. In current market conditions, most coins tend to correlate with Bitcoin and its performance. Therefore, BTC’s price must continue with its recovery in order for ADA, ETH, and other cryptocurrencies to recover. Pseudonym trader Crypto Punisher has compared the ADA/ETH trading pair and found a positive outlook for the former. Ethereum has been one of the top performer cryptocurrencies in recent months, but the trader believes Cardano (ADA) could take that place: (…) at macro level support as ETH continues to show strength. given that ADA has held strong all throughout this downtrend I think a bounce to outperform ETH short-term is enticing enough R:R wise. What Could Push Cardano (ADA) Into New Highs? One of the key factors that have been affecting Cardano and its price action, it’s the upcoming roll-out of their smart contract platform, Plutus. Input-Output Global (IOG) is currently testing the update in color code phases, they have successfully completed AlonzoBlue, part one, and have into AlonzoWhite. Plutus will be introduced in a Hard Fork Combinator by some point in late 2021. IOG’s founder and Cardano creator Charles Hoskinson made an Alonzo Update via his YouTube channels and said: Everything is looking pretty good, looking like it’s on schedule. Application backend integration is on schedule, the wallet backend integration is on schedule. We have a working Alonzo node, it survive the blue era. Now, we are in the white era. Hoskinson added that they are “mass onboarding people” to collaborate with the testnet and Cardano’s developer is working on the new version for the Alonzo node. As the final implementation approaches, ADA could see further benefits and push its way into uncharted territory.
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Cardano (ADA) Launches Crypto Charity Platform With Rwanda-Based NGO

Cardano has announced that Rwanda’s Save the Children foundation had become the latest charity organization to embrace cryptocurrencies. The partnership came to fruition when Cardano had successfully installed a payment gateway that allowed the NGO to receive donations using Cardano’s native currency ADA. The statement released on the Save the Children website explained that thousands […]
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Breaking: Grayscale’s $GDLC Fund is now an SEC Reporting Company

Grayscale’s Digital Large Cap Fund ($GDLC) has become an SEC reporting company making it more attractive for regulatory-focused institutional investors. Grayscale filed for the Registration Statement on Form 10 with the SEC to obtain the regulatory clearance. The digital asset management firm also revealed that they have filed three additional Registration Statements for its Bitcoin

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NBA’s Shaq will not be dribbling with Crypto anytime soon

Basketball icon-come-Business tycoon; Shaquille O’Neal has agreed to disagree with the crypto community. The 49-year-old NBA Hall of Famer expressed his discomfort with the decentralized sphere of money. In an interview with Front Office Sports, Shaq made a compelling argument when he said, he only invests in things he strongly believes in and likes to

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Cardano (ADA) beats Bitcoin (BTC) & Ethereum (ETH); becomes most HOLD’d crypto

The rapidly rising altcoin, Cardano (ADA) which saw a 67 percent hike during Q1, has now acquired the position of the most held crypto asset by investors of eToro US in Q2. Where top cryptocurrency Bitcoin’s steady speed of a 42 percent rise in demand could not beat Cardano for the top spot. Check out the

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Cardano Price Prediction: Is ADA’s 22% Technical Upswing To $1.72 Viable?

Cardano price retested the ascending triangle’s x-axis support ahead of the much-awaited upswing to $1.72. ADA’s short-term technical picture stays positive as bulls gain ground above $1.4. Cardano price has gained traction from the support in June around $1. Initially, the uptrend had been capped under $1.42, but a recent break above this crucial level

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Cardano (ADA) to On-Board 50 Banks by 2022

Cardano (ADA), the fourth-largest cryptocurrency by market cap is currently bullish with its price trading at $1.43, even when other crypto assets are going through a bearish phase. The blockchain is going through a key transition phase that would make it smart contract compatible with the upcoming Alonzo hardfork. The hardfork would, in turn, help

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Charles Hoskinson Claims Thousands of Assets Live on Cardano, but How Many are Useful?

Cardano (ADA) is currently in a key transition phase, moving towards becoming a smart contract compatible blockchain with Alonzo hardfork. However, critics beleive the network hasn’t delivered on its promises. One Twitter user pointed toward the last year’s tweet made by founder Charles Hoskinson on what the network would be capable of in a year.

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Cardano(ADA) Price Jumps 7% Post-Grayscale Addition, 71% Circulation Supply Staked

Cardano(ADA), the fifth-largest cryptocurrency by market cap has seen a 7% rise in its price over the past 24-hours especially after Grayscale added it to their popular Digital Large Cap Fund with the third-highest allocation. The price of ADA was trading at $1.40 at the time of writing, rising from a daily low of $1.29.

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Cardano (ADA) Becomes The Latest Addition To Grayscale Digital Large Cap Fund

Grayscale has just added Cardano to its Digital Large Cap Fund. The top asset management fund announced its quarterly rebalancing that brought up Cardano to be the third-largest holdings of the company. Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include $ADA. — Grayscale (@Grayscale) July 2, […]
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Just-In: Grayscale’s $GDLC Adds Cardano (ADA) With 3rd Largest Allocation

Grayscale, the largest crypto asset manager has added another altcoin to its popular Digital Large Cap Fund ($GDLC). Cardano (ADA) was included in the fund with the third-highest allocation of 4.36% after Bitcoin (67.47%) and Ether (25.39%). Grayscale Digital Large Cap Funds is a passive investment option that offers exposure to 70% of the digital

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ADA Price Analysis: Cardano (ADA) Breaks a 45 Day Trend As Bulls Take Back Territory

Cardano price fell to a low of 1$ and has revived 35% since ADA price Price has formed an ascending triangle formation ADA price must break the 100MA to continue revival Cardano has fixed its spot in the top 10 cryptocurrencies for some time now. The ETH-like nature of ADA has many investors wondering if

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ADA Price Analysis: Cardano (ADA) Breaks a 45 Day Trend As Bulls Take Back Territory appeared first on Coingape.

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