It’s a slow start to the week for cryptocurrencies. The markets entered the weekend on news that the SEC was going after ICO influencers, and nothing much in terms of major positive news releases with regards to specific coins or the market in general.
This explains the relatively weak start to the week considering that overall momentum is still weak. However, these relatively uninspiring price movements are an opportunity for long-term investors to accumulate on coins that have good prospects for growth, such as Cardano (ADA). So, why Cardano (ADA)? Well, most projects in the top 10 are solid, but Cardano stands out due to its price at this point relative to its fundamentals and the scope of what it is aiming to achieve. It is one of the most undervalued projects in the top 10 at this point when priced at just over $0.04 from a high of over $1.
Quite understandable given that most projects are now being exposed as vaporware, just out to get rich off uninformed investors. Unfortunately, this increased pressure to prove adoption has forced many projects to seek low-value partnerships that may add no long-term value. Cardano is one of the few projects that hasn’t bowed down to such market pressure. That’s because the goal was long-term sustainability from the get-go, and all indications are that Cardano (ADA)’s partnerships once they come will not be with obscure entities. They will be transformative.
For instance, earlier this year, Cardano signed a memorandum of understanding with the Ethiopian government to drive up the use of Cardano in the country’s Agritech industry. It also has working relationships with a number of Asian and other African countries as well. This is just a pointer of how big Cardano intends to go. It doesn’t need PR partnerships just to pump up prices. Its partnerships will add real value in the world and by extension the value of Cardano (ADA).
With such powerful technical capabilities and potential for adoption by among others governments, Cardano comes across as heavily undervalued. As blockchain becomes more adopted in society, Cardano thanks to its strong fundamentals in the market, will be among the most adopted. With such strong fundamentals, Cardano is a solid hold for long-term investors. The moment bitcoin rebounds and the whole market enters a new bull phase, Cardano (ADA) will probably be among the biggest gainers in crypto sphere.
Cardano Bull Run Kicks Off With $0.090 – $0.1000 In View Near-term, How High Will Cardano Go?
Cardano ADA price is on the rise again after correcting lower against the the USD for a few days. This Cardano news is just in time as investors were beginning to lose faith in the bullish Cardano price prediction 2019 that was initially posted on smartereum.com. Thanks to the erratic nature of Bitcoin, the price of Cardano has been unsteady as upward moves are quickly followed by downside corrections. To be fair, these downside corrections are necessary for the bullish momentum to continue. Today, the price of Cardano surged above the $0.0750 resistance converting it into a support area. If the bulls are able to maintain their ground above this level, there is a high chance that the price of ADA is going to hit $0.0900 in the next few trading sessions according to Cardano price prediction 2019 on Blockonomi.com. How high will Cardano go?
Cardano News Today – Cardano Price Analysis – ADA News Today – ADA/USD Surges – How High Will The Price Of ADA Go?
As soon as the price of Cardano ADA is able to break the resistance at $0.0900, it will be unstoppable and a surge to $0.1000 will be inevitable. In fact, the key bullish trendline is at $0.0880. You’ll recall that the price of ADA traded above the $0.1000 level a few days ago but was faced with resistance that slowly pulled ADA back to the $0.0750 level where it found support. After a while, the price of Cardano started moving higher until it got to the $0.0820 level were it found resistance again. When the price of Cardano ADA started surging, it broke the resistance at the 23.6% Fibonacci retracement level of the last fall from $0.1015 to $0.0750 but struggled to gain enough momentum to rise above $0.0880.
Cardano (ADA) Price Today – ADA / USD
Right now, there is strong resistance around the 50% Fibonacci retracement level of the last fall from $0.1015 to $0.0750. This was followed by a gradual fall below the support at $0.0830. It wasn’t too long until the bulls gathered momentum to surge higher again. Right now, the key support for the price of Cardano is at $0.0750. If Cardano falls below this support, lower lows will follow. However, it’s unlikely that the price of Cardano is going to fall below this support. The bulls are in full control of the market. How high will Cardano go? We have already established that the price of Cardano will cross the $0.0900 near-term. After this, it will surge higher against the USD and Bitcoin. If the price of Cardano crosses $0.0900, the next resistance will be at $0.0920 and another will be at $0.0950. This will be the last resistance before $0.1000.
Cardano Price Prediction 2019 – Cardano News Today – Current Price Of Cardano ADA
At the time of writing, the price of Cardano ADA was $0.084269. This means that it is up by 3.68% against the USD and up by 1.48% against the price of BTC. The trading volume over a 24 hour period is $125,411,422 and the market capitalization is $2,184,858,771. Within the next few trading sessions, the price of Cardano ADA will most likely cross the $0.1000 level.
What do you think about the Cardano price prediction 2019 in our Cardano news today? Will the price of ADA surge against the USD? Share your thoughts in the comment section below.
Cardano (ADA) – More EMURGO-backed projects coming up that add value to the Cardano blockchain
With crypto prices swinging wildly, it is easy to get caught up in the price speculation. Not only is it tiring, but it can also be demotivating especially when your favorite project isn’t doing so well. For instance, in the last few days, Cardano has gained and lost in equal measure, and anyone who bought just before the crash is deep in losses.
The best way to stay focused in this space is to focus on the fundamentals, i.e. the value that a project is adding with each passing day. Using this metric, one quickly realizes that Cardano is one of the projects that have so much going on at the moment. All the teams involved with this project: Namely IOHK and Emurgo, are doing some amazing things behind the scenes.
“As Cardano is the first third generation blockchain written with high assurance code and utilizing formal methods, the data flow on the Cardano blockchain will be significant and require Cardano’s solutions to scalability, sustainability, and interoperability. While the blockchain industry as a whole is still in its nascent era, these kinds of insights offer greater trading transparency for regulators and institutions in the future which will help the overall maturation of our industry.”
This is a big deal, and a reason to believe in the long-term potential of Cardano (ADA). That’s considering the fact that the IOHK is making some interesting moves of its own. The IOHK is making significant steps towards making Cardano a truly decentralized blockchain. Charles Hoskinson has already promised that Shelley will happen this year.
The only reason why it has delayed is that coding takes time and for such a complex system, putting hard timelines on when things will get done may not lead to the desired results. Otherwise, big things are happening behind the scenes. Once Cardano becomes a complete project that is decentralized and has working smart contracts, it will be unrivaled in terms of technical capabilities. When you combine this with all the projects that are building on Cardano through Emurgo, it’s not hard to see why this is a worthy investment going into the future.
Cardano’s Charles Hoskinson and Monero’s Riccardo Spagni debate about auditable backdoor
Charles Hoskinson, the co-founder of Ethereum and CEO of IOHK, recently spoke about privacy and ZCash, in an interview with CoinDesk. Notably, the remarks made by Hoskinson grabbed the attention of Riccardo Spagni aka fluffypony, the lead maintainer of Monero [XMR]. However, this eventually resulted in a Twitter rebuttal between the two well-known crypto-influencers.
On Charles Hoskinson’s statements, Riccardo Spagni had stated on Twitter,“Thanks,
@IOHK_Charles, for reminding us why ZCash is a project that nobody should ever, ever trust with their privacy. Can’t wait for China to add an “auditable backdoor” to ZCash & encourage adoption. Best way to deal with dissidents.”
During the interview, Charles remarked that privacy was a “human right”, adding that “you have to approach it in a more nuanced way, is it completely transparent or is it completely private”. He stated,“You need to talk about auditable backdoors, you need to talk about the ability to share and breach the privacy of people that you desire. And ZCash is being a part of that conversation.”
This was followed by Hoskinson pointing out the paper published by ZCash last December, ZEXE, adding that team was working with “some great academics” and were also “providing a lot of innovation to the space”. The co-founder also remarked that ZCash was “fundamentally a sound project”.
Further, during a recent YouTube session called ‘Consensus Wrap Up and Some Housecleaning’, Hoskinson spoke about the statement made by Spagni, where he ‘mistakenly’ addressed fluffypony as “the Founder of Monero”. Hoskinson stated that some members of the Monero community misinterpreted his statements on auditable backdoors stating that “both Cardano and ZCash” were going to have “backdoors in the system” that would be given to a “government entity”.
He went on to state that this was “completely insane” and that it was not his “intention in [his] statement”, adding that those claims were “just a perversion”. He also stated that his initial comments were “in context” to Polymesh, the project Hoskinson would be working on alongside Polymath.“The statement was if you wanted to have privacy, the problem we exist in a world right now where you are either psydonomous or not private or totally private. It would be nice that you can embed within the transaction itself some capabitliy that you can give a third-party a key or some evidence and they could use that to verify the claims you’ve made the transaction”
This led to Spagni speaking about the youtube session on Twitter, which eventually resulted in the two having a heated debate regarding the situation.
Furthermore, this functionality is neither difficult nor complex – Monero has had viewkeys and tx keys since the outset. So either you're disingenuously trying to backpedal to obscure the real meaning of what you said, or you naively had no clue this functionality exists.
— Riccardo Spagni (@fluffypony) May 16, 2019
To this, Hoskinson replied stating that Spagni and the Monero community took his statements “completely out of context” in order to attack ZCash. He added, “This was disgusting and beneath you. I respect your work and monero, but this shouldn’t have happened”.
Again this is a disgusting misrepresentation. I cannot understand how this is difficult for you to parse. The context was in reference to polymesh not zcash or cardano. Zcash members have been writing research papers with applications in this area. There is no ZIP or CIP
— Charles Hoskinson (@IOHK_Charles) May 16, 2019
This was followed by Spagni clarifying that neither was there a claim of an existing backdoor nor any mention of Cardano. He further stated, “I never said there was an official proposal. Looks like we’re in total unity – thanks for confirming!”