Shiba Budz (BUDZ), Cardano (ADA) and Ripple (XRP)
As the cryptocurrency market continues to evolve, investors and enthusiasts are always on the lookout for tokens with potential. In October, three tokens generated significant buzz – Shiba Budz (BUDZ), Cardano (ADA), and Ripple (XRP). These tokens have been making waves in the crypto space, and their unique features and recent developments have caught the attention of many. Let’s dive into what makes these tokens stand out and why they are worth watching in October.
Shiba Budz (BUDZ) Overview
Shiba Budz (BUDZ) is a token that has gained traction for its unique features and use cases. It offers a decentralized gaming platform, empowering gamers to participate in community rewards and earn additional BUDZ tokens. By integrating BUDZ within gaming, developers can create new incentive structures, rewarding players with tokens that have real-world value. The transparent and immutable nature of blockchain ensures a secure environment for players to trade and interact.
Shiba Budz (BUDZ) offers the TreeHouse Wallet, a non-custodial wallet that enables users’ entire ownership over their private keys and access to gaming. This decentralized solution increases security and allows users to store numerous crypto assets in the wallet. The TreeHouse Wallet is built with a user-friendly interface, making it accessible even to cryptocurrency newcomers.
The integration of on and off ramps, allowing users to purchase BUDZ using debit or credit cards, is one of the most recent advances in the Shiba Budz (BUDZ) ecosystem. This integration improves user accessibility and ease, creating new options for ecosystem engagement. Shiba Budz (BUDZ) is a token to watch in October because of its creative features and increasing community.
Cardano (ADA) and Ripple (XRP)
Cardano (ADA) and Ripple (XRP) are two well-established tokens in the cryptocurrency market. Cardano (ADA) aims to create a decentralized platform that provides a more secure and sustainable infrastructure for the development of decentralized applications and smart contracts. With a focus on scalability and interoperability, Cardano (ADA) has gained attention for its innovative approach to blockchain technology.
Ripple (XRP), on the other hand, is known for its cross-border payment solutions. Ripple’s (XRP) network enables faster and more cost-effective international transactions, making it attractive to financial institutions and businesses. Ripple (XRP) has also made significant partnerships and collaborations, further solidifying its position in the market.
Both Cardano (ADA) and Ripple (XRP) have been making headlines with recent developments and news. The progress and achievements of these tokens make them noteworthy in October.
Conclusion
The future prospects for Shiba Budz (BUDZ), Cardano (ADA), and Ripple (XRP) in October are promising due to their unique strengths and developments. Shiba Budz (BUDZ)’ integration of on and off ramps and continued development of the TreeHouse Wallet could attract new users and drive engagement. Cardano’s (ADA) roadmap implementation with native tokens and governance enhancements could attract more developers and projects, increasing its utility and value. Ripple’s (XRP) resolution of regulatory challenges could restore investor confidence and lead to partnerships with financial institutions, significantly impacting its price and market performance.
In conclusion, Shiba Budz (BUDZ), Cardano (ADA), and Ripple (XRP) are tokens to watch in October. Each token offers unique features and has recent developments that contribute to their significance. Whether it’s the gaming opportunities of Shiba Budz (BUDZ), the innovative approach of Cardano (ADA), or the potential regulatory resolutions for Ripple (XRP), these tokens have the potential for growth and exciting developments in the coming month.
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Cardano (ADA) and Polkadot (DOT) Holders Buy Into Shiba Budz (BUDZ), Here’s Why
In recent months, an interesting trend has emerged in the cryptocurrency market. Cardano (ADA) and Polkadot (DOT) holders are increasingly showing interest in a relatively new token called Shiba Budz (BUDZ). This article aims to explore the reasons behind this growing trend and shed light on the appeal of Shiba Budz (BUDZ) for Cardano (ADA) and Polkadot (DOT) holders.
Shiba Budz: Garnering Attention
Shiba Budz (BUDZ) is a cryptocurrency with innovative features and a promising roadmap. It serves as the main currency within the Shiba Budz (BUDZ) ecosystem, facilitating transactions and gaming interactions. Cardano (ADA) and Polkadot (DOT) holders are attracted to its potential utility and value in their crypto portfolios. Shiba Budz (BUDZ) is compatible with decentralized gaming, allowing gamers to participate in community rewards and earn additional BUDZ tokens. The token also offers rewards and loyalty programs. Allowing holders to participate in multi-reward competitions and earn tokens for their contributions. This incentivizes community engagement and fosters loyalty among Cardano (ADA), Polkadot (DOT), and BUDZ holders.
ADA and DOT Holder Interest
Cardano (ADA) and Polkadot (DOT) are popular crypto projects due to their innovative technologies and scalability potential. They have attracted a dedicated community of supporters and investors. Recently, many Cardano (ADA) and Polkadot (DOT) holders have started diversifying their portfolios by investing in Shiba Budz (BUDZ). This interest is driven by the desire for exposure to different crypto projects and the unique value proposition of the token, built on a decentralized blockchain. This aligns with the ethos of Cardano (ADA) and Polkadot (DOT), making Shiba Budz (BUDZ) an appealing investment option for these projects.
ADA And DOT: Market Trend
To understand the trend of Cardano (ADA) and Polkadot (DOT) holders buying into Shiba Budz (BUDZ), it is crucial to analyze the market dynamics surrounding these cryptocurrencies. Cardano (ADA) and Polkadot (DOT) have experienced significant growth and a strong community following. This positive sentiment has spilled over into the interest in Shiba Budz (BUDZ).
Trading volumes and investor sentiment play a vital role in shaping market dynamics. The increased trading volume of Cardano (ADA) and Polkadot (DOT) might indicate higher liquidity and interest in these tokens. As Cardano (ADA) and Polkadot (DOT) holders explore new investment opportunities, they may be drawn to Shiba Budz (BUDZ) due to its potential for growth and the opportunities it presents within the crypto ecosystem.
The influx of Cardano (ADA) and Polkadot (DOT) holders into the Shiba Budz (BUDZ) ecosystem could foster collaboration and partnerships between these projects. The shared vision of decentralization and innovation could lead to exciting developments in the crypto space, benefiting Cardano (ADA), Polkadot (DOT), and BUDZ holders and the entire community.
Conclusion
Cardano (ADA) and Polkadot (DOT) holders are increasingly interested in Shiba Budz (BUDZ), a cryptocurrency project that aligns with their ethos and aims to foster collaboration and innovation. The growing interest in Shiba Budz (BUDZ) is a testament to the dynamic nature of the cryptocurrency market, as it offers compatibility with decentralized gaming, rewards, and loyalty programs. As the crypto market evolves, observing how this trend unfolds and its impact on the ecosystem will be fascinating. Shiba Budz (BUDZ) presents exciting opportunities for both projects and communities.
Sign Up and Join the community via the website:https://shibabudz.org/ and Social media links: https://t.me/ShibaBudzP2E, https://twitter.com/ShibaBudz
Crypto Market Prediction: ADA, XRP, and BNB Price Expected to Decline Soon
A cryptocurrency analyst is “bearing” his predictions for ADA, XRP, and BNB as the altcoin market shows signs of vulnerability. In a recent video update, Nicholas Merten, the host of DataDash, warned about the potential for several altcoins to experience a massive market correction; what’s the matter is the culprit liquidity due to micro factors running the crypto show? Delve in to know the analyst’s take on the price action of your favorite altcoin in the coming week.
BNB, Middling with Lower Support Levels
Nicholas Merten’s analysis suggests that Binance Coin (BNB) could face a significant decline, potentially exceeding 38% of its current value. This projection transpired because BNB recently slipped below two critical long-term support levels. Over the past few months, BNB has been on a downward trajectory, failing to surpass $350 in 2023. This led to a sharp reversal, dropping the price to around $200. This pattern is visually represented as a falling wedge on the one-day chart.
All this adds to one scenario, which prompts a challenge to the support trendline of the falling wedge pattern. Currently, BNB is trading at $211.25, showing a 1.4% increase in the past 24 hours.
XRP May Face a Short-Term Downtrend
For XRP Price, Nicolas sees short-term pressure and expects a possibility of a 70% drop due to a substantial sell-off. Recent technical indicators suggest a “death cross” between the 50 and 200 Moving Averages (MAs) on the weekly charts, signaling potential short-term bearish sentiment. Herein, he advises caution for potential XRP investors and recommends waiting for a support level test at $0.15 before considering it a speculative asset. Currently, XRP is trading at $0.50, showing a slight 0.4% increase in the last 24 hours.
Cardano (ADA) Price May Drop to 37%
Last but not least on his list is Cardano (ADA); Merten predicts a drop of more than 37% from its current value. Despite some optimism surrounding the formation of a potential triple-bottom pattern, analyst highlights consistent resistance and weakening relative highs over time, indicating a potential decline to $0.15.
In a similar situation, Ethereum (ETH) is facing rejection, as it has been locked in a bearish cycle since April 2023, struggling to maintain support above $2,000. Currently trading at $1,588, ETH has found stability around $1,425 after grappling with the $1,500 mark.
The analysts projected a brief downturn in September, but adoption will occur in October if all goes according to plan.
Cardano Prepares For A Big Move As Whales Shift $3 Billion! Here’s The Next ADA Price Level
Cardano’s ADA has witnessed a downward trajectory for the past week, with buyers unable to turn the trend. As Bitcoin struggles to maintain its momentum above $26K, leading altcoins, including Cardano, are feeling the pressure, leading to a bearish outlook among traders. Yet, hope emerges as there’s a surge in large transactions near ADA’s price drop, hinting at potential accumulation and an upcoming big move.
Whales Are Bullish Amid ADA’s Price Dip
Whales often see a dip in trending altcoins as a profitable chance to hop in. Consequently, they amass massive quantities of the altcoin, generating buying momentum on the chart, which can lead to a price surge. Cardano is currently in such a scenario.
Data from IntoTheBlock indicates a significant increase in large transactions on September 25th. The figures show that whales shifted close to $3 billion, with the metric rising from $4.7 billion to $7.4 billion. Interestingly, this activity emerged following ADA’s price drop to a low of $0.24. This seemed to be an accumulation as it created a strong support level for ADA price, preventing it from dropping further.
However, there remains a bearish undertone as the Open Interest (OI) metric has seen a significant decline over the past week, plummeting by more than $8 million. This indicates a declining interest in ADA’s trading, given its inability to induce notable price volatility.
With Cardano’s volatility dropping to 24.3%, potential buyers might be deterred. Additionally, the long/short ratio for Cardano has been trending negatively. The current ratio stands at 0.76, with 56.5% of positions leaning towards short-traders. Conversely, bullish traders hold 43.5% in long positions, eliminating the upward momentum for ADA’s price. This could lead to increased selling pressure at resistance points.
What’s Next For ADA Price?
Cardano’s ADA recently touched a crucial support level at $0.24, suggesting that bearish momentum continues to dominate the altcoin. However, buyers are aggressively defending an immediate decline as the ADA price reversed its trend from the dip, suggesting buying demand near lower levels. As of writing, Cardano price trades at $0.2454, surging over 0.5% in the last 24 hours.
Currently, there’s a glimmer of hope for the bulls as the RSI displays a bullish divergence below the midline. For a positive shift, the bulls need to push the ADA price past the descending trendline quickly. Achieving this could invalidate a bearish possibility, potentially sending the price to $0.28.
Conversely, if the bears pull ADA’s price below $0.23, it will solidify the short positions. This could lead to a decline towards $0.22 and possibly even to a target of $0.189.
Cardano (ADA), Axie Infinity (AXS), Or Pomerdoge (POMD)
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Meanwhile, projects like Cardano (ADA) and Axie Infinity (AXS) are struggling to gain some ground in the market.
Summary
- Cardano holders have staked millions of ADA tokens in five days.
- Axie Infinity (AXS) has seen a drop in the number of active wallets.
- Pomerdoge’s presale has raised more than $4.8 million till now.
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Cardano (ADA) Staking Goes Up
After suffering a loss for the past many months, Cardano (ADA) has been able to post some positive numbers this week. In the past seven days, Cardano (ADA) has witnessed an increase of 9% in its price.
Subsequently, the current trading price of Cardano (ADA) has surged to $0.28. However, investors are still not convinced with Cardano, as ADA is trading 91% below its peak price of $3.10.
Besides, 90% of Cardano (ADA) holders are suffering losses. Meanwhile, Cardano (ADA) has witnessed an increase in its staking. As per the latest on-chain data, Cardano holders have staked ADA tokens worth $30 million between August 24 and August 29.
Axie Infinity (AXS) Suffers A Decline On Several Metrics
Metaverse-based projects are facing some hardships since the last few months, and Axie Infinity (AXS) is one of them. The market value of Axie Infinity (AXS) has plummeted by more than 19% in the past 30 days. Subsequently, the trading price of Axie Infinity (AXS) has plunged to $5.01.
According to experts, the declining network health of Axie Infinity has been the primary reason behind the fall in AXS’ value. As per the latest data from DappRadar, the number of unique active wallets holding Axie Infinity (AXS) has fallen by over 11% in the last week.
Besides, the number of transactions involving Axie Infinity (AXS) has dropped by 14%. These bearish developments have prompted investors to keep a distance from Axie Infinity (AXS).
Pomerdoge (POMD) Becomes The Top Investment Choice
Pomerdoge is a new P2E (play-to-earn) crypto project that has the capacity to disrupt the Web3 gaming industry. According to a research report, the P2E gaming industry can reach above $3,618 million in the next five years. Hence, this new P2E Web3 platform has entered the market at an opportune moment.
The platform will launch its P2E game, Pomergame, in the last quarter of the year. The game will be equipped with several features and benefits. In Pomergame, players can earn money and collect rewards while playing. Additionally, it will enable players to create avatars and customized in-game assets to upgrade their characters. A gold-status Pomer holder will be allowed to trade these customized in-game assets. Selling and buying of in-game items will take place at Pomerplace, the marketplace-cum-battle arena of the place.
The demand for POMD tokens has soared, and their presale is advancing through the first stage. Moreover, Pomerdoge’s presale will have just four stages. Hence, interested people will have to lock their tokens fast. Meanwhile, the buying price of POMD tokens has increased to $0.0165 from $0.007, within weeks of the presale launch.
As per market pundits, the value of these tokens will grow by at least 1,700% before the culmination of the presale round. The project has raised more than $4.8 million to date. After the culmination of the presale phase, the platform will enlist tokens on Uniswap, and other leading tier-1 exchanges.
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ADA Price Analysis: Is Cardano Dead? What Traders Can Expect?
The top cryptocurrencies started moving close to their crucial support levels again, indicating a possibility of a huge bearish turnaround in the crypto space soon. Bitcoin and Ethereum repeatedly fail to start a bullish movement as the market is experiencing constant setbacks, with September price volatility being the latest one.
Since the market crash in 2022, ADA has been unable to perform as the coin is presently trading at a whopping 92.12% discount post-crash. Moreover, top Crypto Analysts also showcase a silent treatment toward the coin, indicating a disinterest among the analysts for the ADA crypto.
The Cardano ADA coin has displayed weak social sentiments for quite some time now, indicating weak price movement for the crypto in the market. Since August, Cardano price has been constantly losing its value and further showing no signs of a bullish movement.
Also Read: Cardano Price Prediction 2023, 2024, 2025: What Are The Chances of Cardano Reaching $1 in 2023?
The RSI and MACD indicators have displayed a sideway trend since mid-August, indicating very weak buying and selling pressure within the market. The coin is showcasing a high possibility of another price drop in the coming time. Moreover, the coin displays a weak price action, indicating an uncertainty in the future price movements for the coin.
Does Cardano Have A Future?
Answering the question in simple terms, YES, Cardano has a bright future ahead as it has been the Ethereum-killer for a long time now and is currently holding its place in the top 10 cryptocurrencies and is also one of the most prominent projects the industry has ever given. Cardano(ADA) has gained over 1,300% in value since its inception. Further, the coin is predicted to regain the $1 mark by next year.
Now, talking from the short-term perspective:
The ADA coin has been trading in a consolidated range since mid-August. First, it was seen trading between $0.2717 and $0.2542 for almost a month, after which the market failed to hold the price, and the coin broke its support level. Since then, the coin has been trading in a range between $0.2542 as its resistance and $0.2381 as its support, where the coin has failed multiple attempts to break out of the range.
If the bulls manage to gain power and the coin breaks out of the consolidated range towards its resistance, then ADA price will experience a bullish movement and will make a run and test its upper resistance of $0.2717 by the month-end.
On the flip side, if the market fails to build bullish momentum, the price will experience another dip in its value. Moreover, if the coin fails to hold its support level, the price will continue to fall and will test its crucial support level of $0.2197 this month.
XRP Leads U.S. Altcoin Trading with $150 Billion Volume, Overtakes SOL, Doge, ADA, SHIB
Over the past few weeks, XRP has achieved a significant milestone; it has emerged as the top-traded altcoin in the United States by trading volume. This surge in trading activity follows Ripple Labs’ recent legal triumph over the SEC, leading to renewed investor interest in XRP.
With a trading volume exceeding $150 billion, XRP has outpaced other popular altcoins like Solana (SOL), Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB). This achievement signifies the growing prominence and resilience of XRP within the cryptocurrency market.
XRP Shines Bright as the Leading Altcoin Globally
In the global market, XRP’s rise is not limited to the United States. Its trading volume has surpassed other altcoins, demonstrating its widespread popularity. In August alone, XRP achieved a remarkable daily trading volume of $462.8 million, surpassing its closest competitor Solana by an impressive 3.6 times.
XRP’s exceptional growth has positioned it as one of the most actively traded cryptocurrencies, closely following the footsteps of Bitcoin and Ethereum.
Although XRP experienced a recent price decrease, it still achieved an impressive monthly gain of over 38%. This remarkable increase added approximately $10 billion to its market capitalization.
XRP Liquidity Rises, Restoring Investor Confidence
XRP’s liquidity has experienced a significant increase; before the legal ruling, its market depth stood at $8 million, but as of early September, it has risen to $12 million. This noteworthy surge in liquidity and market depth reflects the renewed interest in XRP following positive legal developments involving Ripple Labs and the SEC.
XRP continues to dominate headlines and set impressive trading records, showcasing its remarkable strength and untapped potential. Currently, XRP is trading at $0.5138, up by 3.6% in the last 24 hours.
Is Cardano On Thin Ice? ADA Price Struggles At $0.25 Amid Rising Bearish Threats
Cardano finds itself struggling near a crucial level as signs of recovery fade in the altcoin market. Despite a bullish buyback, ADA has faced an uphill battle over the last fortnight, struggling to break free from the critical $0.25 threshold. Recent trading sessions have seen heightened selling pressure, leaving investors to question whether the recovery rally was merely a short moment and if a liquidation phase may be on the horizon.
ADA Traders Turn Bearish Amid Declining Open Interest
Cardano (ADA) is hitting a few bumps on its road to recovery. Recently, ADA traders have displayed an increasing bearish sentiment, and one major indicator flashing red is the declining open interest in ADA contracts.
As indicated by the current data on ADA futures open interest, the metric has been on a downward trajectory, hitting levels last witnessed in 2021. At the time of writing, open interest has dropped to $98.6 million, pointing to a decline in trading activity among market participants.
Amid this, the funding rate for Cardano has slipped into negative territory, signaling that traders with short positions are in the driver’s seat and are even prepared to compensate those holding long positions. A negative funding rate is generally a sign of bearish sentiment among traders. At present, the weighted funding rate stands at 0.0063%.
A declining open interest amid a bearish funding rate is often seen as a confirmation of a downtrend, setting off alarm bells among traders. The current scenario suggests that traders are either exiting their positions or are reluctant to open new ones, further fueling the selling sentiment. Also, ADA’s struggle to maintain a price above the $0.25 mark is also feeding into the growing bearish outlook.
What’s Next For ADA Price?
Over the last few hours, ADA price witnessed solid rejection in attempting to surge above the crucial resistance level of $0.25 as bears intensified their selling domination to prevent an immediate surge. However, buyers are defending a decline below the $0.24 level to hold buying sentiment. As of writing, ADA price trades at $0.248, declining over 0.9% from yesterday’s rate.
The declining 20-day EMA, set at $0.25, coupled with an RSI level below the midline, suggests the likelihood of a bearish trend. If the price slides below the EMA20 threshold, the ADA price may target the crucial support level of $0.235.
Conversely, the 200-day EMA has proven to be a consistent barrier thwarting bullish advancements. This makes it a significant level to monitor closely. If the bulls manage to push the price above $0.262, the ADA price could aim for the next resistance level at $0.28.
ADA Price Crashes Under $0.25, Next Stop $0.20?
In the daily chart, the Cardano price action moves under the influence of a strong resistance trend line, leading to multiple lower-high formations. The downtrend even breaks below the crucial support level of $0.25, leading to a steeper correction rally.
Cardano is currently trading at $0.244, down 0.41% today. Last night, the price hit the $0.25 ceiling and fell back down, creating a long-tail candle. It represents the ADA price retesting the broken $0.25 range and suggesting an upcoming downward trend.
Parallel to the downtrend, the ADA price action mimics a head and shoulder pattern formation with the neckline at $0.25. And the recent breakdown also signifies the bearish pattern breakdown in the Cardano coin price action.
According to the trend-based Fibonacci retracement, the next crucial support level is at $0.222 and $0.20 after the breakout of $0.235.
The bearish pattern breakout projects a potential downtrend to $0.15, accounting for a 37-40% correction.
Coming to the technical indicators, the RSI indicator displays a bullish divergence. As the ADA coin price transcends below $0.25. but the RSI line sustains over the oversold boundary. Meanwhile, the MACD indicator gives a bearish crossover. However, the sellers struggle to increase the bearish gap between the MACD and the signal line.
Will Cardano Find A Bounceback in 2023?
If the Cardano coin price breaks under the $0.235 support level, the downtrend continuation is expected to continue to the $0.20 mark. Moreover, the RSI indicator displays a strong bullish divergence in the daily chart, signaling a bullish revival soon.
However, on the flip side, a bullish reversal from $0.235 can again challenge the resistance trend line, accounting for a price jump of 10% to reach $0.25.
Cardano Price: Top Reasons Why ADA is The Best Altcoin To Buy Right Now
In recent months, the Cardano (ADA) ecosystem has displayed remarkable resilience in the face of adversity from various geographical fronts. Notably, the United States labeled this smart contract platform as heavily centralized and accused it of violating securities laws.
Consequently, the leading cryptocurrency exchange, Binance, removed ADA perpetual contracts from its offerings on August 17, 2023. However, Cardano enthusiasts need not fret, as quarterly Cardano futures contracts and regular ADA spot charts remain accessible for traders and investors.
Cardano Price Potential Rebound
CryptoBusy, a UK-based digital asset analyst with a substantial following of over 121k on the X platform, believes that the current market conditions present an opportune moment to purchase and accumulate more Cardano (ADA). This assessment is grounded in a comprehensive analysis of both fundamental and technical factors.
According to CryptoBusy, Cardano’s price is presently retesting a support level for the third time this year, following substantial losses in the previous year. Furthermore, the weekly Relative Strength Index (RSI) indicates a rising divergence, suggesting the possibility of an imminent breakout.
The crypto analyst also highlighted the Cardano network’s remarkable performance, with a staggering 1,700 percent increase in on-chain transactions. This surge has been propelled by the burgeoning DeFi (Decentralized Finance) ecosystem. Data from defillama reveals that Cardano’s total value locked (TVL) has experienced exponential growth, reaching approximately $160 million year-to-date.
ADA Price May Not Cross $1 until 2024
The crypto markets are creeping up at the moment as the prices of the majority of the tokens, including Bitcoin, Ethereum, Cardano, etc., are struggling to sustain crucial support. In the case of Cardano, the reduced momentum has merely offered any profits to its investors, as the crypto is down by more than 50% since last year. This has made the ‘fundamentally-strong’ crypto among the least-performing cryptos of the year.
Cardano investors should note that the unpleasant behaviour of the crypto is expected to prevail for a long time as the mounting bearish market sentiments may drag the price lower. Although the year 2022 was extremely bearish for the entire crypto space, most of the cryptos were able to recover more than 50% of their losses, while the ADA price maintained a steady descending trend. Moreover, the 2023 bullish push also failed to lift the price above the bearish influence.
Therefore, now it appears that the price may certainly trade below $0.5 until the end of 2023 while refraining from rising above $1 in 2024.
The ADA price has not traded above $0.5 since the beginning of 2023, and the last time it traded above $1 was in April 2022. Presently, Cardano’s market price has dropped close to the $0.25 range, diminishing hopes of a bullish reversal. Besides, even though the price broke above the 50 EMA, extensive selling has kept the prices lower.
However, the RSI divergence suggests a potential sharp change in the ADA’s price. Also, the token has revisited $0.25 multiple times and experienced a notable rebound each time. Hence, a similar action is expected at the moment if the support at $0.25 is held strongly. In case of a bearish reversal, the support levels at $0.22 may be tested, and if they fail to sustain, the next support level at $0.2 could prevent a further drop.
A positive breakout from the range may extend the bullish target beyond $0.3 as the Bollinger bands are getting compressed, which suggests major price action is impending soon.
Cardano Price Analysis: On-Chain Data Identifies Strong Bullish Signals for ADA Price
Cardano (ADA) has evolved into a thriving smart contract ecosystem, boasting over $15 million in stablecoins and more than 35,000 daily active users on its DeFi protocols. The core Cardano development team has been hard at work building the necessary infrastructure to accommodate a broader user base, with a focus on long-term sustainability.
Impressive Growth in Total Value Locked (TVL)
Market data provided by Defilama reveals that the Cardano network has a total value locked (TVL) of approximately $160.36 million, a substantial increase from January 2023. This surge in TVL has raised expectations for the Cardano network, especially given the growing adoption of blockchain technology and the cryptocurrency market.
Insights from Santiment’s On-Chain Metrics Analysis
Santiment, a crypto market intelligence platform, conducted an on-chain analysis of Cardano’s metrics. Despite ADA’s price remaining relatively suppressed, the network has witnessed a notable increase in on-chain transactions throughout the year. This uptick in on-chain activity suggests a rising demand as traders actively exchange ADA.
As DeFi protocols continue to flourish on the Cardano network, Santiment emphasizes the critical role utility plays in price rebounds. Additionally, Cardano’s social dominance remains higher than in the first quarter, indicating sustained trader interest.
ADA Price Analysis
As of Monday, ADA was trading around 26 cents in the early Asian market. The price has been testing a crucial support zone for the third time this year. Compared to the crypto bear market of the previous year, Cardano’s price has experienced diminished losses, signaling the potential for a long-term rebound that could see the digital asset retesting its all-time high (ATH) of around $3.
However, if Cardano’s bulls fail to defend the support zone around 25 cents, crypto experts believe the price could drop further to approximately 18 cents in the coming weeks.
Cardano’s smart contract ecosystem is thriving, with strong growth in TVL and on-chain activity. While the price faces challenges in the short term, the network’s utility and sustained interest from traders suggest a promising future, including the possibility of a return to its previous ATH.
Cardano Price Analysis: Guarding The $0.25 Gates, Will Buyers Avoid ADA Price Crashing Under?
Losing the recent challenge to the resistance trendline, the ADA price drops back to the $0.25 level for the third time in the past two weeks. While the 50 EMA breakout did promise a prolonged uptrend, the extensive selling at the overhead trendline was a battle between David and Goliath.
Nevertheless, being a belt of bounce-backs, the buyers line up at the $0.25 zone, leading to a lower price rejection with a minor recovery.
Projecting the downtrend continues below the $0.25 demand belt; the trend-based Fibonacci retracement will help find the upcoming support levels. As per the Fibonacci tool, the next key support levels are at $0.22 and $0.20.
Currently, the ADA price trades at $0.256 with a 1.18% intraday growth as it bounces from the $0.25 demand block.
Will Cardano Find A Bounceback in 2023?
With the overall market conditions gloomy, the chances of a bullish comeback in Cardano seem minimal. However, the SEC deciding on the Bitcoin ETF approval this Friday can be the bullish catalyst necessary for ADA prices to break the resistance trendline.
Moreover, the RSI indicator displays a strong bullish divergence in the daily chart, signaling a bullish revival soon.
If things go well, the trendline breakout rally could push the ADA price up to $0.35 at least, maybe even $0.45. But if it falls below $0.25, that could put a lot of selling pressure on Cardano, and it could drop to $0.229.
Borroe Breaks Out! Why ADA, TRON Investors Jumping to $ROE
Cardano (ADA) struggled even before the cryptocurrency market-wide crash resulted in severe losses. On the other hand, TRON (TRX) network developments have not translated to the token’s prices in the market. Fortunately, Borroe ($ROE) is here to save the day. Borroe ($ROE) is gaining popularity among all investors and is already delivering huge profits in its presale, making it the best cryptocurrency to buy now.
Cardano (ADA) Plunges As Entire Market Sees Red
Ripple’s recent legal win against the SEC on July 13, 2023, sparked interest in the altcoins impacted by the SEC’s actions. On that note, some analysts say that Cardano’s (ADA) recent rallies are because of the rejuvenated interest.
After Ripple’s success in the courts, Cardano (ADA) gained 37.04%, with Cardano’s (ADA) price increasing from $0.27 to $0.37 within 24 hours.
Nonetheless, because of recent market volatility, Cardano (ADA) rapidly reversed its movement and has been dropping gradually. From July 14 to August 15, Cardano (ADA) recorded a 21.62% dip, dropping Cardano’s (ADA) value from $0.37 to $0.29.
Notably, many analysts think that the slow speed of Cardano (ADA) development has frustrated investors and increased their fears about missed deadlines.
Cardano (ADA) was sliding as the entire crypto market dropped steeply. Analysts expect the selling pressure to continue, pushing Cardano (ADA) down to $0.24 by the end of 2023.
TRON (TRX) Developments Have Minimal Impact on Its Value
A recent market report published by Messari displays massive growth in TRON’s (TRX) network. The main growth catalysts were creating the BitTorrent Bridge and advancing its staking mechanism to TRON Stake 2.0.
Based on the report, TRON (TRX) increased the number of new accounts by 13.4% while transactions surged by 28.9%. Additionally, there was a significant 14% increase in daily active addresses. Despite the great performance in the TRON (TRX) network, Huobi’s insolvency rumours managed to keep TRON (TRX) prices low.
Between August 7 and August 13, 2023, TRON’s (TRX) price increased by 0.6% from $0.07711 to $0.07758. But, as the Huobi rumours hit the market, TRON (TRX) dipped mildly to $0.07634 on August 16.
TRON (TRX) was trading within range until the cryptocurrency market crash happened on August 18, pushing TRON (TRX) down to $0.07208. TRON (TRX) has now lost 5.45% in the past week, with analysts expecting the bearish market sentiment to continue.
Analysts expect TRON (TRX) to drop to $0.06980 by September, meaning it is not the best crypto to buy now.
Borroe ($ROE) Breaks Out In Its Presale Stage
Borroe ($ROE) is a groundbreaking AI-powered funding marketplace. It offers content creators and Web3 users the distinct chance to generate instant cash flows. Instant liquidity is achieved by selling valid future earnings from subscriptions, royalties, and invoices.
While the traditional funding platforms struggle to align with the principles of Web3, Borroe ($ROE) embraces this evolution seamlessly. It offers a great platform for businesses to raise funds using non-fungible tokens (NFTs) representing their future or outstanding invoices.
By minting and selling cheaper invoice NFTs, Borroe ($ROE) enhances a peer-to-peer network where buyers can readily sell these NFTs on multiple secondary markets.
After completing the beta stage of its presale, Borroe’s ($ROE) recorded a 25% surge from its initial price of $0.010 to $0.0125 in Stage 1. Looking at Stage 2, the price of Borroe ($ROE) is set to reach $0.015. By the end of the presale in Stage 7, Borroe ($ROE) is projected to surge by a massive 300% from the initial Beta Stage price to $0.040.
All these lucrative opportunities make Borroe ($ROE) the best crypto investment of 2023, leaving both Cardano (ADA) and TRON (TRX) in the dust.
Learn more about Borroe ($ROE) here:
Visit Borroe Presale | Join The Telegram Group | Follow Borroe on Twitter
ADA Sees Dwindling Profits; Contrasting Uptrend Noted for FIL and TOADS Launch
Ethereum (ETH) founder Vitalik recently sent 600 $ETH to Coinbase, causing panic amongst investors due to his uncanny knack for selling local tops. But the crypto market is drastically different from even two years ago. And the rapid pace of development means there are always opportunities for investors who take the time to look.
Top altcoins look fragile, Cardano (ADA) sees dwindling profits hinting at an incoming sell-off, but one trend has emerged: the relative strength of new DeFi projects and smaller altcoins. Filecoin (FIL) contrastingly displays a powerful uptrend, and a new blockchain ICO DigiToads (TOADS), enjoyed a spectacular launch. There is always profit to be made in crypto. Investors just have to look harder.
DigiToads (TOADS) Overwhelming Launch Success
DigiToads has launched spectacularly and has proven that protocols with solid value propositions will always triumph regardless of market conditions. The protocol quickly passed its fellow new ICOs going to market and raised a staggering $7 million throughout the presale.
The native ecosystem, The Swamp, utilizes sophisticated economics, and its broad array of features makes the TOADS protocol an advanced DeFi suite and a perfect crypto for beginners. Indirect earnings mechanisms such as the Platinum Toads initiative mean token holders gain exposure to the returns of DeFi trading without lifting a finger.
The game theorized taxation system, Toad Tax, automatically routes value to long-term holders around the clock. It funds an impressive burning campaign and the NFT Staking payout pool, one of the features drawing the most attention.
This mechanism takes the DigiToads NFT Collection and turns all these digital collectibles into assets that produce revenue. Investors stake their NFT via the Staking Portal and begin earning.
Directing protocol emissions to holders aligned with the protocol benefits investors and the protocol, and analysts already forecast the floor price of these NFTs doing a 7X in the coming weeks when the market finally prices in the value of the rewards.
Cardano (ADA) Profitability Dwindles
Cardano’s market cap has been hemorrhaging value due to the recent liquidation event. The liquidation most heavily affected larger cap tokens due to the abundance of leveraged trading positions open on these more liquid assets. And Cardano has dropped more than 9% in the last seven days alone.
At a high-level alternative layer, one sell blockspace, and users who want to transact on the network represent the demand side. Less desire to transact on a network means dwindling revenue, and this is precisely the situation Cardano founds itself in.
Analysts revised their price predictions after analyzing the on-chain data showing a declining daily transaction count. They are now forecasting a predicted range between $0.50 and $0.58 in 2024.
Filecoin (FIL) In Powerful Uptrend
Filecoin is another project that defies the larger macro downtrend and has not lost its bullish momentum. The increasing demand for storage and the bolstered demand for what was once a niche market, immutable storage, has powered this positive growth.
Understanding that all Filecoin services are payable in $FIL explains the sustained buy pressure for the native token. Filecoin provides a multi-sided platform where the demand and supply sides can interact- users who want to store data pay users who have spare storage space.
This decentralized storage option directly competes with Web2 giants like AWS, and analysts forecast a bullish potential high of $10.66 for $FIL in 2024.
Closing Thoughts: Analysts Overweight on New Projects
Crypto investors not leveraging on-chain data do themselves a disservice. The ability to monitor the amount of revenue generated by protocols makes this one of the most powerful investment aids.
On-chain data shows that investors are accumulating more new projects like DigiToads, rotating away from the last cycle’s winners like Cardano. And best of all, investors can still snap up a TOADS NFT and start earning payouts today!
Is Cardano Under SEC’s Radar? ADA Delisting Rumour Looms – Charles Hoskinson Clears The Air
Cardano’s founder Charles Hoskinson took center stage during a recent interview to set the record straight about ADA and the U.S. Securities and Exchange Commission’s (SEC) stance on the token.
“It’s very important to be accurate with our language; there’s no coming after Cardano,” -Charles Hoskinson
No Enforcement Event: A Promise or a Prediction?
Some say that where there’s smoke, there’s fire. But in the case of Cardano, the “no enforcement event” statement seems to be more of a calm assertion than a wild proclamation. Hoskinson reiterated that the SEC has not targeted Cardano’s ADA token. But is this the silence before the storm, or merely the truth?
Coinbase’s Fear: A Delisting Nightmare Looms Large
When Coinbase CEO Brian Armstrong dropped a hint at the possibility of delisting several tokens, including ADA, investors panicked. This announcement was met with a collective gasp from the crypto community, followed by a storm of debates and arguments.
Armstrong’s suggestion that the delisting of ADA could be a “worst-case scenario” sent shockwaves through the crypto space, and the uneasy question lingers: What’s next for Cardano?
The Battle of Words: Input Output Global (IOG) Stands Firm
While the SEC has thrown punches at Binance and Coinbase, alleging unregistered securities, the primary developer behind the Cardano blockchain, IOG, has stood like a rock against the onslaught. Their firm opposition to the proposition that ADA be labeled as security has added fuel to this firestorm.
When compared to Ethereum (ETH) and Solana (SOL), Cardano’s on-chain achievements may seem modest. Ethereum’s decentralized finance (DeFi) total value locked (TVL) towers at a staggering $22 billion, leaving Cardano’s TVL trailing at $162 million.
Yet, Cardano refuses to be overshadowed. The ongoing Marlowe enhancements signal an ambitious push to bolster decentralized applications (dApps) on the Cardano platform.
The Ripple Effect: Hope and a Fresh Offensive
After Ripple’s partial victory against the SEC, a glimmer of hope sparkled in the eyes of crypto enthusiasts. However, the agency seems to be preparing for another round, seeking permission for interlocutory appeal. The battlefield is being drawn, and the stakes are getting higher.
Learn why ADA holders invest in this new Bitcoin fork
Questions abound as to why Cardano’s increasing Total Value Locked (TVL) coincides with a decrease in ADA price. This suggests a lack of enthusiasm in the market, highlighting a decreased demand for ADA. This phenomenon explains ADA holders’ motivations for investing in Bitcoin Spark, a new Bitcoin fork.
ADA Price Prediction
Cardano (ADA) has been gaining significant attention in the blockchain space for its remarkable Total Value Locked (TVL) surge by 198%, despite its recent price decline. The increase is attributable to ADA’s DeFi ecosystem. Over the past month, the number of daily active addresses has decreased. The ADA Price Prediction suggests that the lack of enthusiasm in the market could be behind its decline. Cardano’s price prediction indicates a possible short-term decline soon as ADA’s price struggles to rise above the 50-day EMA, signalling a short-term downtrend.
What is a Bitcoin fork?
A Bitcoin fork refers to a new blockchain with separate rules derived from the original Bitcoin blockchain. When disagreements arise within the Bitcoin community or a new technological event occurs, the blockchain may split into separate paths, each pursuing its own rules. A hard fork is a complete divergence of the blockchain leading to the creation of a new cryptocurrency, distinct from the original Bitcoin. Bitcoin Spark forked to create solutions to Bitcoin challenges, including the barriers to entry and skewness towards centralization.
A soft fork involves executing changes backward but no protocol upgrades. As such, Nodes continue to validate transactions, but they might not be compatible with certain new features. The blockchain remains a single entity, but upgrade nodes can take advantage of the new functionalities.
Bitcoin Spark (BTCS)
Bitcoin Spark, an innovative blockchain project debuting a unique Proof-of-Process (PoP) strives to tackle transaction processing speed and overall network efficiency. It focuses on addressing key challenges traditional cryptocurrencies like Bitcoin and Ethereum face, including high transaction costs and the dominance of a few individuals in mining.
BTCS introduces a Bitcoin Spark application that enables users to contribute their processing power to the network, participate in mining, and receive rewards. The app is user-friendly and encourages more individuals to participate in securing the network. Bitcoin Spark introduces a lower barrier of entry for mining, making it accessible to all participants regardless of their resources. As a result, anyone can mine and earn rewards based on a combination of individual stake and contributed processing power, promoting decentralization and ensuring a fair reward distribution.
The BTCS infrastructure is driven by a multi-layer system that integrates smart contracts. This approach allows for flexibility in application building. The BTCS network aims to achieve expansive scalability through decreased block time for increased throughput and enhanced user experience.
BTCS assures security, compliance, and transparency of its processes through its KYC and ContractWolf audit. Its ICO phase two offers BTCS tokens at $1.75 and 15% bonuses for holders. The early adopters anticipate reaping gains of 657% on their investment when the project launches at $10. With the exciting offering, investors can imagine buying Bitcoin at $1.
Conclusion
Bitcoin Spark presents a disruptive innovation to blockchain technology by merging the PoS and PoW concepts to create a unique PoP ecosystem with its application for processing power, mining, and rewards distribution.
Learn more here:
Website: https://bitcoinspark.org/
Cardano Price Analysis: Experts Predicts ADA Price Breakout Fueled By Whale Accumulation
One of the top smart contract-based blockchains with more than $177 million in total value locked (TVL), Cardano (ADA), has recorded an exponential rise in on-chain activity YTD. Despite being under the radar of the United States Securities and Exchange Commission (SEC) for failing to comply with the securities act, the Cardano ecosystem has continued to thrive in DeFi protocols and also its stablecoins sector.
As a result, on-chain intelligence platform Santiment has concluded that the Cardano network is poised for greater success based on increased whale adoption.
Specifically, Santiment highlighted that there are more than 25,294 Cardano wallets with over 100K ADA, the highest since April 2022. The heightened Cardano whale accumulation has happened despite the ADA price dropping approximately 2.3 percent YTD in a macro accumulation.
Cardano (ADA) Price Action
According to a U.S.-based crypto analyst Ali_charts, Cardano’s (ADA) price could be following the same price action as the pre-2021 crypto bull rally. Notably, Since ADA’s price hit its 2022 bare rock bottom in December, the digital asset has accumulated horizontally to date. With a possible double bottom and a rising divergence of weekly RSI, Ali_charts is convinced ADA price will retest again the support before rallying to a bullish breakout early next year.
If the Cardano (ADA) maintains the $0.46 to $0.24 range until early next year, the analyst argues a new ATH will be imminent in the subsequent months for the patient holders.
ADA Price Analysis: With Crossroads in Multiple Timeframes, Will Cardano Resurface Above $0.30?
The price of ADA broke below the critical support level of $0.30, following the descending triangle downtrend. On August 2nd, Cardano’s closing price fell by 3.55% to $0.299, followed by a 2.34% drop the next day.
Giving a bearish breakout of a descending triangle, the ADA coin price reverses from $0.289 for a retest. With a 4.12% growth in 48 hours, the successful retest leads to a new bearish phase.
Following the evening star pattern at the retest, the ADA price falls by 1.90% and breaks below the 50 EMA in the 4-hour chart. However, multiple bullish support levels limit the downfall possibility in Cardano market value.
The post-retest bearish phase will struggle to continue at $0.289, $0.280, and $0.270.
The bulls provide more hope for the ADA price trend on a daily chart. With a retest of a falling wedge breakout, the support trendline in action provides a bounce-back opportunity.
However, a prolonged selling spree below the support trendline or $0.29 will crash the ADA market value. The downtrend will test the bullish dominance at the crucial support levels of $0.280.
On the flip side, a bullish reversal from the support trendline will help the ADA price resurface above the $0.30 mark. The breakout event can fuel a new buying frenzy in Cardano, driving ADA price to $0.325 this week.
Cardano Price Prediction : Will ADA Price Spike Following Mithril’s Cardano Mainnet Launch?
Cardano, a leading cryptocurrency ranked within the top 10, recently executed a significant upgrade known as the Mithril protocol. The upgrade aimed to enhance the efficiency of node synchronization on its blockchain, sparking anticipation of potential gains for the ADA token among experts and investors.
ADA Price Forecast
Amidst the excitement, predictions about ADA’s future value have been mixed. Notably, crypto influencer BitBoy, also recognized as Ben Armstrong, acknowledged the likelihood of gains but cautioned against immediate skyrocketing. While he dismissed the notion of ADA swiftly reaching $100 per coin, he didn’t rule out the possibility altogether.
External Factors in Play
Market experts recognize that ADA’s future trajectory is influenced by various external factors. One notable consideration is the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). Sebastian Purcell, an analyst, emphasized the importance of this lawsuit for ADA’s future.
If the lawsuit concludes favorably for Ripple, ADA could potentially exceed the $0.50 mark. However, historical precedent, particularly pertaining to XRP’s performance, might present challenges for ADA to surpass its previous all-time high.
Dollar Devaluation and Whale Activity
Factors beyond Cardano’s upgrade also play a role. Speculation suggests that a significant devaluation of the U.S. dollar could trigger a rally in ADA’s value, along with other cryptocurrencies. Additionally, an increase in whale activity within the ADA ecosystem has been observed, with a notable accumulation of over 420 million ADA by Cardano Sharks and Whales. These factors collectively contribute to the positive sentiment surrounding ADA’s potential for growth.
Cardano’s Bullish Trajectory: Top Crypto Analyst Forecasts ADA Price to Hit $31 Mark
In a surprising turn of events, Cheeky Crypto has taken the crypto community by storm with a bold prediction for Cardano’s future performance.
According to an expert analyst, ADA, the native cryptocurrency of the Cardano blockchain, could potentially reach an astonishing $31 in the long run. But that’s not all – the analyst has also outlined a more conservative range for ADA’s upward movement.
Cheeky Crypto Analyst Predicts ADA’s Price Surge to $31 in the Long Run
A prominent crypto analyst Cheeky Crypto has made a remarkable prediction for ADA’s future trajectory. In his recent youtube video, Cheeky Crypto elaborated that ADA could experience a significant price surge within the range of $28 to $31 mark in the long run.
He further mentioned that looking back to the prior performance and market dynamics, we’re observing a spectrum of growth, with possibilities spanning from $3.48 to $10.50. Apparently, Cheeky Crypto’s prediction comes while ADA is currently being traded for $0.297.
On the other hand, the analyst cautioned that ADA might go through a short-term drop in its price due to market price correction. According to Cheeky Crypto, ADA could go down to levels between $0.151 and $0.1817 for a little while.
The analyst drew attention to the fact that Cardano’s price has gone down a lot, more than 92%, from its highest point ever. However, the analyst pointed out that this could actually mean that Cardano is worth more than it’s being valued at right now. This suggests that there’s a good chance for Cardano’s value to grow.
Cardano’s Strong TVL Surge Could Drive an Upward Movement
He further highlighted that Cardano’s TVL has shown remarkable expansion since the start of this year. As earlier reported, Cardano’s TVL surged by 9.7% and reached a milestone of $151.7 million in the second quarter of 2023. This significant growth pushed Cardano to the 21st spot among the top networks with the highest TVL in blockchains.
As per the present data showcased by DeFiLlama, the total value locked on Cardano stands at approximately $180.25 million. However, Cardano’s TVL rise showcases growing confidence in its potential, as this surge could be a forerunner to a broader rally.
While the prediction raises eyebrows, it’s evident that Cardano’s surging TVL is setting the stage for a potential rally, igniting discussions within the crypto community about the future trajectory of this blockchain project.
Cardano (ADA), Compound (COMP), Curve DAO (CRV)
VC Spectra (SPCT) has started to assert its dominance over crypto competitors like Cardano (ADA), Compound (COMP), and Curve DAO (CRV). This powerful new gem impresses investors with its exceptional rewards and unrivalled real-life utility. On top of that, VC Spectra (SPCT) raised over $2.4 million in private seed sale.
Cardano (ADA) Could be Delisted from Coinbase
Cardano (ADA) is currently priced at $0.29, decreasing by 5.10% in the last five days. Cardano (ADA) bears expect more pronounced dips after the recent news that Coinbase may be required to delist 13 tokens which the SEC previously described as ‘unregistered securities,’ including Cardano (ADA).
Thus, some analysts warn that Cardano’s (ADA) price could soon drop below the $0.27 range. On the other hand, Cardano (ADA) bulls predict rallies toward $0.35 in the next seven days. Experts believe that Cardano’s (ADA) new Project Catalyst could significantly improve Cardano’s (ADA) market performance. The project will provide a framework for the creation of real-world projects.
Compound (COMP) Drops Over 20% in Seven Days
Compound (COMP) is trading for $57.35, dipping by a massive 20.65% in the last week. According to Compound (COMP) bears, the token’s rapid drops from its figures above the $70 threshold clearly indicate that Compound (COMP) could decrease below $45 by the middle of August.
Conversely, Compound (COMP) bulls hope for an improved price performance due to the astonishing growth of Compound’s (COMP) developer ecosystem. Furthermore, Compound (COMP) continues to attract interest with its unique new products, such as the CometWrapper, which makes Compound (COMP) V3 tokens ‘non-rebasing’ and static.
Curve DAO (CRV) Resumes Bearish Trend
Curve DAO (CRV) is selling for $0.61, dropping by 15.63% in the last seven days. Curve DAO (CRV) bears expect continued dips in Curve DAO’s (CRV) price after several Curve Finance pools were recently exploited by over $47 million due to malfunctioning reentrancy locks. Hence, Curve DAO (CRV) could approach the $0.45 level in the next few days.
However, Curve DAO (CRV) bulls are confident that the token will soon reclaim its earlier figures above the $0.70 range. This optimism is based on several positive factors such as Curve DAO’s (CRV) low-risk transactions and efficient stablecoin trading. Furthermore, Huobi co-founder Jun Du recently displayed his support by purchasing 10 million Curve DAO (CRV) tokens.
VC Spectra (SPCT) Is Set to Dominate the Crypto Sphere
VC Spectra (SPCT) is a community-driven decentralized hedge fund that presents the most viable investment opportunities in current blockchain projects and technology startups. VC Spectra (SPCT) users can explore various tokens and niche markets and diversify their portfolios with countless lucrative options.
Furthermore, VC Spectra’s (SPCT) cutting-edge AI trading systems enable users to make informed investment decisions that bring them quarterly dividends and buybacks. On the other hand, the deflationary VC Spectra (SPCT) token grants several amazing benefits, such as access to pre-ICO discounts and voting rights for future investments.
The VC Spectra (SPCT) token is currently at Stage 2 of the public presale, selling for $0.011. Investors are looking at 127.27% gains when the token surges to $0.025 at Stage 3 and incredible 627% gains when VC Spectra (SPCT) reaches the $0.080 presale target (an impressive 10x surge from the initial price of $0.008).
Major experts predict that VC Spectra (SPCT) is bound to outclass opponents such as Cardano (ADA), Compound (COMP), and Curve DAO (CRV), so invest now and receive a 25% bonus on all deposits!
Learn more about the VC Spectra presale here:
Presale: https://invest.vcspectra.io/login
Telegram: https://t.me/VCSpectra
Twitter: https://twitter.com/spectravcfund
Cardano (ADA) Network’s On-Chain Activity Surges Amid Growing DeFi Adoption
Cardano (ADA), a prominent smart contract-based blockchain, has been experiencing a substantial surge in on-chain activity. As the broader digital asset landscape gains mainstream traction worldwide, Cardano’s ecosystem has seen an uptick in DeFi (Decentralized Finance) development, evidenced by the growing adoption of Dapps such as Minswap, Indigo, MuesliSwap, and Liqwid.
However, the network also faces significant regulatory scrutiny in the United States, with the Securities and Exchange Commission (SEC) recently placing ADA on a list of digital assets potentially classified as securities.
Rising On-Chain Activity:
Market intelligence platform Santiment’s on-chain analysis reveals a noteworthy increase in Cardano’s on-chain activity, driven by heightened adoption and participation. Accumulation of ADA by both large investors (sharks and whales) and individual holders has been observed over the past several months.
Notably, investors holding between 100,000 to 10 million ADAs have collectively added $116.1 million worth of coins since May 21 of this year. This surge in accumulation has pushed Cardano’s whales and sharks to their highest level since September 2022.
Transaction Volume Surge:
Cardano’s on-chain transaction volume has been on a steady upward trajectory over the last six months. Santiment highlights consecutive weeks with transaction volumes surpassing 67 billion ADA, marking a notable high not seen since September 2021. This sustained increase in transaction activity underscores the growing utilization of the Cardano network for various purposes.
Price Implications:
Amid the escalating on-chain activities, a pivotal question arises regarding the potential correlation between Cardano’s on-chain performance and its price movement. ADA, currently valued at $13 billion, has maintained stability around 30 cents year-to-date, following a challenging year in 2022 characterized by a decline in value.
Conclusion:
The Cardano (ADA) network’s surge in on-chain activity, coupled with its expanding DeFi ecosystem and the adoption of various Dapps, reflects its growing significance in the blockchain landscape. Despite facing regulatory scrutiny, the network’s increased transaction volume and accumulation by large investors signify a promising trajectory.
As the crypto community speculates on whether the heightened on-chain activities will translate into a price surge for ADA, the cryptocurrency market watches closely to see how Cardano’s journey unfolds in the coming months.
Crypto Market Analysis: Bearish Clouds Loom Over-BTC, ETH, SOL, ADA, XRP Prices Run Down
Ever since the markets witnessed the recent rejection in mid-July, the popular tokens have been maintaining a steep descending trend. Besides, Bitcoin remains stuck around $29,000 as a massive drop in volume is recorded, impacting the volatility to a large extent. This has halted the growing strength of the bulls, paving the way for the bears to intensify their action. Hence, the popular altcoins that have been holding lower support are believed to encounter a significant drop in the next 48 hours.
Bitcoin (BTC)
Bitcoin maintained a consistent trend between pre-determined resistance and support levels over a period. However, it appears to be uncertain of the next price action while the technical indicators are flashing bearish signals. The RSI is heading towards the lower support in the short term, indicating the price may drop towards the lower support just below $29,000 at $28,834 during the weekend.
Ethereum (ETH)
The ETH price has been maintaining a consistent descending trend ever since the beginning of the month, hence forming a descending triangle. The trade has now approached the lower support of the triangle and looking out for a bullish breakout. The accumulated selling pressure had prevented it from doing so. However, the MACD is about to undergo a bullish crossover which indicates ease in the selling volume. Therefore, the price may witness a rebound but could remain within the descending triangle for the next few days.
Solana (SOL)
The Solana price is trading within a descending parallel channel ever since it faced a rejection from the interim highs in July. the price after a healthy rebound has managed to trade within the upper bands of the channel, indicating the growing strength of the bulls. However, the Stochastic RSI is displaying some deviation in its path toward the lower support, which suggests the SOL price could maintain a sideways trend during the weekend.
Cardano (ADA)
The Cardano price has dropped below the ascending trend line that it followed for over a month. The bearish start to the month may prove extremely fatal for the token as it may continue to shed its gains and reach interim support at around $0.28. Moreover, the stochastic RSI is about to undergo a bearish cross, which may drag the price toward the immediate lows during the weekend.
Ripple (XRP)
The win over the SEC spiked the price by over 100% in a short time frame, but the post-rally impact turned out to be extremely bearish, which slashed the price hard. The price, with the fresh bearish attack, has dropped from the 0.5 FIB level and appears to be on its path to reaching the lower FIB level of 0.78, surpassing the 0.612 FIB level. If the bulls manage to hold on to either of these levels, then one can expect a healthy rebound, or else the XRP price may shed all its gains and reach the 0 FIB levels at its initial position at $0.468.
Will Coinbase Delist Cardano (ADA) and Other 13 Altcoins? CEO Weighs In
Delisting digital tokens is becoming a hot topic in the crypto world, especially due to unclear regulations. The CEO of Coinbase, a major U.S. cryptocurrency exchange, believes that removing 13 tokens including Cardano (ADA) without clear justification is unfair.
However, this situation arises from a legal battle with the U.S. Securities and Exchange Commission (SEC), which argues that these tokens, though a small part of Coinbase’s offerings, lack proper securities registration.
Coinbase to Delist Token to Ease Regulatory Pressure?
On a wider note, Brian Armstrong, the CEO of Coinbase, spoke with Financial Times reporter Scott Chipolina about the whole situation. He explained that while the delisting of ADA and other tokens is a concerning possibility, it wouldn’t significantly harm Coinbase’s revenue or overall existence.
However, he argues that imposing regulatory scrutiny before a clear rule has been unfair and unjustified. As there will be possible negative market effects including increased selling pressure on undervalued tokens and hence more market liquidity.
On the other hand, Cardano’s developer, Input Output Global (IOG), strongly disagrees with the SEC’s stance, asserting that ADA should not be labeled as a security.
In response to the SEC lawsuit, Coinbase has already filed a motion to have the case dismissed. The company is drawing parallels to a similar case involving Ripple to strengthen its argument against the SEC.
What is The Future of Cardano (ADA) and Other Tokens?
In the meanwhile, the fate of ADA and other tokens at risk of delisting remains uncertain. Armstrong’s remarks imply they might still trade on other exchanges even if not on Coinbase. A positive resolution of the SEC lawsuit could let these tokens stay. Yet, the case’s final outcome is unclear.
Having said that, investors holding Cardano (ADA) and other tokens must recognize the risks and seek advice from financial experts. ADA fell below $0.30, a 0.2% drop in 24 hours and 5% in a week, now at $0.293809. Recent weeks show nearly a 6% decline from the previous surge in value.
Cardano Price Prediction: ADA Holds Strong At $0.30
Cardano is still yet to meaningfully challenge Ethereum as the enterprise blockchain king. Nonetheless, it has gained some foothold recently in a turbulent market. Investors are looking at alternatives like DigiToads to provide more upside even as they tread carefully with the more established coins.
The launch of Cardano was a significant moment in the enterprise blockchain era. This project boasted some Ethereum alumni, most notably Charles Hoskinson. Cardano sought to have a robust and scalable solution for investors and be more scalable than the Ethereum Blockchain.
Such utility is a distinction in the blockchain space. DigiToads is a utility memecoin aiming to create a value-added gaming blockchain platform. The project is finalizing a successful presale on August 15th, 2023, and has raised over $6.5 million. Notably, the presale is in its tenth and final stage, with tokens retailing at $0.050 as investors prepare for launch on 21st August 2023.
Cardano blockchain usage surges
ADA prices are a work in progress. However, the usage of the Cardano blockchain itself is inspiring Cardano enthusiasts. Cardano has begun to outperform the Ethereum blockchain regarding the total value of tokens locked in its Decentralized Finance (DeFi) ecosystem.
This report shows that developers are utilizing the Cardano blockchain for creating decentralized applications more. Ethereum has had significant scalability challenges, which has made the blockchain more expensive than its competitors.
This news is significant because ETH denotes enterprise blockchain activity online, like the USD dominates global trade. Even though ADA is still at $0.30 – 0.031, a surge in Cardano usage is still a significant development. Ethereum has to innovate out of its scalability issues or will find itself boxed out of its niche.
DigiToads also thrives on utility
Like Cardano, DigiToads is emerging as a serious challenger to an incumbent. The utility meme coin is seeking to become a difference-maker in this sector. DigiToads is launching a play-to-earn gaming ecosystem on August 21st, 2023.
This addition can transform memecoins forever. Unsurprisingly, investors have jumped on the ship pushing the presale to continued success. The launch price of $0.055 represents a 400% gain for the earliest token holders.
DigiToads has managed to build this excitement by providing a template for growth. Users participate in a game with a chance to create value. The goal is to nurture digital toads and earn TOADs tokens rewards in the process.
This model is different from typical memecoins with neither a roadmap nor utility. DigiToads has shown investors that it will be more than just a purely speculative token with cyclic relevance. Instead, the platform creates a core community that will be the most valuable component of the platform.
Players can look forward to a robust game with the advantage of earning rewards while having fun. There is also the option of minting NFTs to create more value on the platform. In a rarity, DigiToads allows NFT holders to stake them and earn yield as a percentage of TOADS tokens transaction fees. Minting NFTs is now possible at https://mint.digitoads.world/.
Conclusion
DigiToads and Cardano are pretty similar in their effect. The two platforms improve on what the pioneers started. Cardano is slowly but surely exerting its presence among smart contract blockchains for its efficiency. Similarly, DigiToads’ utility provides an edge among memecoins.
Investors are anticipating the launch on 21st August 2023. This launch will open up many opportunities, from staking NFTs, holding TOADS tokens, and simply having fun with the gaming activity. It will be fascinating to watch how far this project has risen.
Bitcoin (BTC) And Cardano (ADA) Price Slumps; Buy Now into Uwerx (WERX) End of Presale
The cryptocurrency market has been unstable recently due to recent lawsuits from the SEC. Bitcoin (BTC) and Cardano (ADA) are two major cryptocurrencies that have experienced significant price slumps, causing more concern among investors. While the market attempts a recovery, Uwerx progresses impressively on its presale. The project is new to the market and comes with rare profit opportunities. The project brings innovations to the market and could be the most significant invention 2023.
Bitcoin (BTC)
While Bitcoin (BTC) slumped from $27k to nearly $25 after the SEC’s lawsuit announcement against Binance and Coinbase, the project seems to be reacting better. It retraced slightly to $26k before slipping back to over $25,500. The Bitcoin (BTC) market cap is down, but its dominance has spurred minor gains in other altcoins. Altcoins like Cardano (ADA), Shiba Inu (SHIB), and Solana(SOL) have picked up by 9%, 8%, and 7%, respectively.
Cardano (ADA)
Similar to Bitcoin’s (BTC) recent position, Cardano (ADA) has pulled some gains and is 4.36% in the last 24 hours. The crypto project has, however, lost more over the past few days, following SEC news that it is a security. The project dumped over 15% from the news but presently attempts a recovery. The project has refuted the claims of the SEC and has informed its community to disregard the agency’s claims of it being security. With the minor gains the project has seen, it could be heading toward a full-blown recovery moving forward.
Uwerx (WERX) Presale Final Call
The freelance industry allows the flexibility to work multiple jobs and earn more. And one of the reasons many favour it over full-time jobs is this. Freelancers in the recreation field earn an average of $7,000 monthly. Nothing is better than an opportunity to expand your reach as an individual, both in career advancement and earnings. Uwerx is a project looking to offer this and more to freelancers in the gig economy.
Uwerx introduces features that can help freelancers earn more while giving them access to a wide range of clients. Similarly, businesses and clients get a global pool of talent. Users get to pay as little as 1% service fees and also get incentives for signing up and for their performances. The platform allows investors also to have a stake and buy the tokens at the least price on presale.
Hurry! Don’t miss out on the Uwerx promotion for WERX at the current price of $0.05645. You can get an additional 12.50% bonus on all purchases alongside the ongoing 15% bonus. This limited-time offer ends at 23:59 UTC today. Act now and take advantage of these exclusive bonuses for your WERX purchases!
Join the presale now and enjoy a 15% plus 12.5% bonus:
Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE
The post Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE appeared first on Coinpedia Fintech News
The crypto space continues to remain within the same narrow region as the tokens undergo a minor upswing compared to the previous day’s close. Not much variation has been recorded since then as the star crypto continues to chop around $29,500, failing to rise above these levels. While some of the popular altcoins are displaying enough bullish momentum and appear to be waiting for the right time to trigger a breakout.
Cardano (ADA)
- The Cardano price continues to maintain a choppy upswing without major price variations, indicating the bulls hold their strength until the month end
- While the RSI is rising firmly towards overbought levels, which may lift the price towards $0.359 levels, enabling a further rise toward the first target at $0.45
- Therefore, the monthly analysis of ADA price remains bullish, while, the price could maintain a healthy upswing for the first few days of August or until the end of the week
Solana (SOL)
- After the Solana price rebounded from the lows in June, the token maintained a healthy upswing throughout July to mark the yearly high of around $32
- The trend has now regained within the bullish pattern and displays the probability of triggering a bullish breakout in the next few days
- However, the RSI and MACD continue to remain bearish which suggests, the Solana price may continue with a sideway trend for a while and with the flow of buying pressure, a decent upswing may be imminent.
Polkadot (DOT)
- Polkadot price has waned its popularity in recent times despite the price maintinag acute strength by trading within an ascending triangle forming constant higher highs and lows
- The trading volume maintains decent levels which suggest the bulls and bears are active, compelling the price to trade within a narrow region.
- As the RSI is trading flat MACD does not show signs of a bullish reversal due to which the DOT price may consolidate within an ascending triangle to reach the apex, which may be followed by a bullish breakout above $5.5
Terra LUNA Classic (LUNC)
- Terra LUNA classic was gaining some traction in recent days, while the price action remained largely sluggish.
- The volume also has dried up to a large extent which is majorly dominated by the bears but the ADX indicating the strength of the rally displays a bullish divergence. Hence, the LUNC price may maintain a sideway trend until it reaches the apex and undergoes a significant price action.
- While a breakout from the descending triangle results in a minor pullback, the LUNC price may marginally drop below the lower support, suggesting a correction, followed by a bullish breakout to reclaim the lost levels.
Dogecoin (DOGE)
- Being largely diverse from the other popular tokens in the market, the Dogecoin price has manifested acute strength, breaking above the descending triangle
- However, after lifting the price relatively high, the bulls appear to have exhausted themselves, which is now causing the DOGE price to face a minor pullback
- As the RSI is showing some signs of a plunge, it may drag the DOGE price lower towards the support zone which may trigger a healthy rebound towards the first target at $0.09.
Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE
The post Altcoins Technical Analysis for August; ADA, SOL, DOT, LUNC & DOGE appeared first on Coinpedia Fintech News
The crypto space continues to remain within the same narrow region as the tokens undergo a minor upswing compared to the previous day’s close. Not much variation has been recorded since then as the star crypto continues to chop around $29,500, failing to rise above these levels. While some of the popular altcoins are displaying enough bullish momentum and appear to be waiting for the right time to trigger a breakout.
Cardano (ADA)
- The Cardano price continues to maintain a choppy upswing without major price variations, indicating the bulls hold their strength until the month end
- While the RSI is rising firmly towards overbought levels, which may lift the price towards $0.359 levels, enabling a further rise toward the first target at $0.45
- Therefore, the monthly analysis of ADA price remains bullish, while, the price could maintain a healthy upswing for the first few days of August or until the end of the week
Solana (SOL)
- After the price rebounded from the lows in June, the token maintained a healthy upswing throughout July to mark the yearly highs of around $32
- The trend has now regained within the bullish pattern and displays the probability of triggering a bullish breakout in the next few days
- However, the RSI and MACD continue to remain bearish which suggests, the Solana price may continue with a sideway trend for a while, and with the flow of buying pressure, a decent upswing may be imminent.
Polkadot (DOT)
- Polkadot has waned its popularity in recent times despite the price maintaining acute strength by trading within an ascending triangle forming constant higher highs and lows
- The trading volume maintains decent levels which suggest the bulls and bears are active, compelling the price to trade within a narrow region.
- As the RSI is trading flat MACD does not show signs of a bullish reversal due to which the DOT price may consolidate within an ascending triangle to reach the apex, which may be followed by a bullish breakout above $5.5
Terra LUNA Classic (LUNC)
- Terra LUNA classic was gaining some traction in recent days, while the price action remained largely sluggish.
- The volume also has dried up to a large extent which is majorly dominated by the bears but the ADX indicating the strength of the rally displays a bullish divergence. Hence, the LUNC price may maintain a sideway trend until it reaches the apex and undergoes a significant price action.
- While a breakout from the descending triangle results in a minor pullback, the LUNC price may marginally drop below the lower support, suggesting a correction, followed by a bullish breakout to reclaim the lost levels.
Dogecoin (DOGE)
- Being largely diverse from the other popular tokens in the market, the Dogecoin price has manifested acute strength, breaking above the descending triangle
- However, after lifting the price relatively high, the bulls appear to have exhausted themselves, which is now causing the DOGE price to face a minor pullback
- As the RSI is showing some signs of a plunge, it may drag the DOGE price lower towards the support zone which may trigger a healthy rebound towards the first target at $0.09.
Cardano Price Prediction: Analysts Predict Potential High Levels For ADA Price in Next Bull Run
Despite the optimism, ADA dropped below $1 in May. Since then is trading in a tight range between $0.30 and $0.60. This period of consolidation has some wondering if Cardano is bottoming out before its next bull run. However, amidst market fluctuations, some intriguing predictions have emerged. Let’s see where Cardano is heading.
Cardano Price Forecast
Recently, Dan Gambardello, founder of Crypto Capital Venture and a huge Cardano supporter, made a bold prediction about where the price of ADA is headed. In a tweet, he predicted that Cardano’s price would hit a new all-time high of at least $7.80 during the next bull market.
Gambardello didn’t go into detail about the reasoning for his conclusion, but he did imply that the importance of cryptocurrencies would rise as existing financial institutions face difficulties. In his estimation, it will take around a year for the true crypto bull market to begin.
The analyst foresees a target of $7.80, which is as of now difficult to imagine, as to hit the target ADA has to climb almost 2400% from its current price. Having said that, the cryptocurrency market is renowned for its unpredictability, and significant price swings are not unprecedented.
Notably, during the past week, ADA has lost 3.24% of its value. Even if the 1-month change is positive at +11.17%, the 6-month view reveals a loss of 19.53%. So, what could be behind ADA’s price spike on the last day?
Going with the perspective of ADA Whale, a prominent Cardano-focused Twitter account, there is a potential bull run for Cardano, while they caution against expecting immediate results. Their perspective suggests that any major market movements might take time to materialize and shouldn’t be viewed as a quick “2023 story.”
A Technologically Advanced Network, Is the Answer!
But what is going in favor of Cardano is its latest update which is expected to create a market buzz, as reported in the latest update by Input Output Global (IOG), the team responsible for Cardano’s blockchain.
The recent release of node v.8.1.2 brought updates to the Plutus interpreter, contributing to the platform’s advancement. Furthermore, the launch of the Mithril protocol’s mainnet beta represents a notable milestone for the Cardano network. The Mithril team is closely monitoring the network and is optimistic about initiating the creation of certificates in the upcoming Cardano epoch.
While it is also evident that Cardano was badly impacted by the Fed’s rate hike last year and this year as well Fed is expecting to raise the rate, in such a situation, it will be interesting to see how Cardano will react to the two-way pressure of being an oversold asset so far. Trading ADA requires patience and caution.