- South Korean Bithumb announces support for Cardano coin.
- ADA/USD gains nearly 5% on daily basis, the only growing coin from top-10.
Cardano (ADA) has recovered from the low reached at $0.1443 on Wednesday amid global cryptocurrency carnage. The coin touched $0.1754 during early Asian hours, but could not sustain gains as the upside momentum faded away. Cardano is the seventh biggest cryptocurrency by market value, according to CoinMarketCap, with current capitalization $4.5B. Its daily trading volume spiked significantly from $99M to $166M, emphasizing growing interest towards the coin.
Cardano is the only coin in green from top-ten, with positive momentum inspired by Korean bitcoin and cryptocurrency exchange Bithumb decision to add ADA to the list of tradable instruments. Currently, over 40% of Cardano’s trading volumes are processed by Upbit, with ADA/KRW being the most popular pair.
Cardano technical picture
Technically, ADA/USD broke above 50-SMA (hourly chart), currently at $0.1633, while the movement above 100-SMA ($0.1706) was not sustained. ADA/USD is changing hands at $0.1680 with local support created by the above-mentioned 50-SMA, followed by $0.1580. On the upside, growth above $0.1750 (Asian high) will open the way towards $0.18 and $0.20.
ADA/USD, the hourly chart
Cardano (ADA) Gathers Momentum Moves Up 3% With More Gains To Come, How High Will Cardano ADA Go?
Cardano News Today – Cardano ADA, just like every other cryptocurrency on CoinMarketCap, has been on a roller coaster ride for the past few weeks. Ever since May when the price of Cardano touched the $0.1000 level in an epic bull run, it has been moving lower against the USD and is now almost half of that price. In our last Cardano price prediction and Cardano News, we noted that if the price of Cardano can find the bullish momentum to rise above the $0.070 level, it will reach higher levels near-term. Unfortunately, the price of Cardano hasn’t been able to surge above this level irrespective of the anticipation surrounding the activation of Cardano Shelley on the mainnet.
Cardano News Today – Cardano Shelley Update – Cardano Price Prediction 2019 – Cardano Picks Up But Remains Far From Recent Highs
The team behind Cardano has been focusing on emerging markets in a bid to ensure global adoption of the Cardano blockchain and the ADA token. While their primary focus is developing countries, they are well known in the developed world and the Cardano blockchain is seen as a worthy competitor for Ethereum. The Cardano Shelley upgrade was supposed to be the nail on the coffin but as the date for the Shelly activation grows nearer and the price of ADA is still struggling, it’s becoming clear that the Cardano Shelley upgrade may not have any significant effect on the price of ADA.
Cardano (ADA) Price Today – ADA / USD
In the beginning of trading today, the price of Cardano ADA surged against the USD along with the price of Bitcoin and many other altcoins in the market. Unfortunately, the spike didn’t last long. At the time, Cardano price prediction on Cardano news today was that ADA was going to test the $0.060 level before the end of trading today. Unfortunately, this didn’t happen. Rather than maintain the upward rise, the price of Cardano ADA started to fall against the USD. Not being able to stay above the $0.060 level dashed the hopes of reaching $0.070 anytime soon. Notwithstanding, the price of Cardano ADA performed better this morning than or did yesterday.
Meanwhile, on the other end of the continuum, Cardano Foundation announced that its Chairperson, Nathan Kaiser, had an interview with Eric MA. The details of the interview was posted on Twitter for everyone to see. It was about CoinMarketCap’s vision for the Asian cryptocurrency and blockchain market.
Cardano News Today – Cardano Price Prediction 2019 – ADA Price Analysis – Current Price Of Cardano ADA
At the time of writing, the price of Cardano ADA was $0.056716. This means that it is down by 3.75% against the USD and down by 4.18% against the price of BTC. The trading volume over a 24 hour period is $91,002,939 and the market capitalization is $1,470,480,478. It picked up from $0.055 in the beginning of trading today and went as high as $0.057 before the bears showed up and drove the price down. If the bulls are able to regain momentum, the price may move as high as $0.058 against the USD near-term.
The current price of Cardano ADA is strongly related to the price action of Bitcoin. In fact, the entire altcoin market is following the lead of their big brother, Bitcoin. So, until the price of BTC starts recovering, there is no way to determine when Cardano will recover.
What do you think about the Cardano price prediction 2019 in our Cardano news today. Share your thoughts in the comment section below.
Here is all you need to know about Cardano light wallet Yoroi 1.8 update
Yoroi is a chrome based extension that works as a Cardano (ADA) wallet and is developed by EMURGO considering the security loopholes in web-based wallets.
Cardano (ADA) is a prime mention when it comes to cryptocurrency. Web-based wallets and extension based wallets handle ADA. Yoroi is a Cardano wallet, which was named after the ancient Japanese samurai armor which was made of leather and iron.
Yoroi is chrome based extension later developed by EMURGO considering the security loopholes in web-based wallets. EMURGO is a third generation blockchain, who developed Yoroi in partnership with IOHK.
Yoroi in Chrome provides rapid development, with entirely built APIs and it’s also very secure considering the fact it runs inside a sandbox. Also, with Chrome’s inspection options, this becomes simple. The mere difference between Yoroi and Daedalus is that the first one is a light wallet, meaning it doesn’t download the entire blockchain, but instead it connects to other trusted servers that contain the full blockchain copy.
Now with Yoroi being a very prime option when it comes to Cardano, EMURGO has recently released an update for this light wallet- Yoroi 1.8.
Yoroi 1.8 has been released for Firefox and Chrome (Auto Update).
The update comes with the following new features,
- Function for adding Cardano (ADA) payment URL
- Balance hidden option
- A new warning message if the device has failed to connect to the server
- Support for the Indonesian Language
If you are using Daedalus and yet to download this light wallet, do it now and it will auto-update to Yoroi 1.8.
Crypto Winter May be Imminent as Bearish Pressure Hampers Progress of Cardano, Ethereum and other Digital Assets
It appears a crypto winter is imminent considering the current state of the market. The major tokens have dropped in value in the last 2 days and over the last week. Coins like Cardano (ADA), Ethereum (ETH) and market leader Bitcoin (BTC) are just a few notable mentions among the many tokens that have suffered steep falls in the last 2 days of trading.
If the current wave isn’t averted soon, then we can expect a fresh crypto winter at any time. The big Bitcoin correction hasn’t been unexpected to say the list. The current atmosphere it left the rest of the crypto market in isn’t healthy. A sort of altcoin apocalypse has made the past Sunday one to remember. Things didn’t improve on Monday morning either as top assets began the day losing double digits.
Crypto Market Loses $50 Billion from Total Market Capitalization
Over the weekend (which was actually a long selloff for crypto) the entire digital currency markets have lost $50 billion in what can be described as one of the most violent retreats for the year. At the end of the past week, the total market capitalization of the entire crypto market stood at $320 billion and it seemed Bitcoin was comfortable consolidating.
On Monday morning, the total market cap of crypto markets was pushed down to $270 billion. This is the lowest level for a month. This slide actually began in mid-week after the Bitcoin price reached $13,000 before instantly retreating to form a bearish pattern.
Bitcoin Price is Now Under 11k
A 25% plus correction sent the price of BTC back under the $11k mark during the early trading hours in Asia. However, BTC price recovered back to five figures. The coin’s dominance has remained high by 66%. The altcoins, on the other hand, have been trounced leaving no survivors.
This massive altcoin exodus has actually sent many coins close to levels that may not have been seen since the past crypto winter (six months back). Meager gains in the recent months during Bitcoin’s April rally have been obliterated. This has blown away any hope of an altseason.
Cardano Records 13% Price Drop One Day, Ethereum under $300
ADA is another token that has been hit hard. The coin’s price recorded a 13% drop on the last day. It has dropped from $0.066 to $0.057 as of July 15. ADA steeply slumped from the $0.062 to $0.055 since the day began.
In the past 2 days, there has been a steep fall in the ROI and market cap of Cardano. The closing value of the digital asset yesterday was $0.059. It is still moving downwards.
Ethereum is another coin that has been crushed. The price of Ether has dropped below $300. It is now in danger of moving under $200 as well. This slide has increased the gap of the coin’s all-time high to 85% as Ethereum tumbled by 20% through the weekend.
A flash crash which took Ether price to $190 yesterday, was a sign of an impending crypto winter. Analysts expect Ethereum to record more losses if Bitcoin drops into four figures again. We can only hope that things will go back to normal soon.