Cardano (ADA) is certainly one of the digital assets that might not be getting much of an attention from the crypto users. Most of them may think that Cardano is a developed crypto. No, it’s actually not! The cryptocurrency is still in developing phases and they are working hard on its technology. We would see Cardano (ADA) emerging as one of the top digital assets in the coming years. The Testnet has been upgraded by IOHK, which is a core part of Cardano’s network. This is just a Testnet launch, but moreover, Cardano is moving ahead in the right direction, where they would change the world with improvements in blockchain technology.
The recent Testnet of Cardano (ADA) launched by IOHK gives the Daedalus wallet users an opportunity to explore some new features ahead of being integrated into the Mainnet. This Testnet upgrade will be very useful for the developers as well as for IOHK engineers. They would be able to use Testnet and benefit from its features. The users would be allowed to use test tokens to trail along with the system and examine how to use the upcoming features without losing funds and this will cost nothing. The users can also send their opinions to IOHK regarding their experience about the features of Testnet, which will help IOHK to enhance the Testnet before the launch of Mainnet.
This Cardano Testnet comes up with the Cardano 1.4 that contains Daedalus 0.12.0 and Cardano SL 2.0.0. This upgrade comprises of a new wallet extremity with a new v1 API, also including the wallet data migration. Some basic changes have been made with improvement in clock synchronization checks and process management, which will adjust the problems caused during loading on Daedalus. The users will also be able to reactivate checks if the clocks are off following the synchronization without restarting the wallet, which would take so long to start up again.
Moving on looking at the bear market, many of the digital assets has been financially hurt. Some of the cryptos have lost up to 80% in the recent bear market. Few days’ ago, ETCDEV proclaimed that they are closing down due to funding problems. So, top crypto’s like Ethereum Classic (ETC) are suffering badly from this bear market. But Cardano does not have any sort of funding issue from these bear markets. The Cardano (ADA) network is fully funded till 2020 unless IOHK team finishes their project. Charles Hoskinson said that they are very clever with the BTC’s they have. He added that they have deprived those Bitcoins and are fully funded for the next two years.
This puts Cardano (ADA) in a strong position, and as they will complete their development programs, ADA will rise to skies. Cardano (ADA) price in the past couple of weeks has been around $0.04 USD to $0.03 USD, which shows how stable the coin has been in the bear market. Cardano (ADA) is a future prospect of the crypto industry and it will flourish considering the facts of its development.
Having a look at today’s (6th December 2018) market, Cardano (ADA) has dropped a bit more. This is because the price of Bitcoin (BTC) has dropped below $4,000 and this has affected the prices of other altcoins. At the time of writing, Cardano (ADA) was trading at a price of $0.035 USD. In the last 24 hours, it has dropped up to –4%, but it has still managed to remain at $0.03 USD mark.
Cardano Price Analysis: Cardano (ADA) Touched $0.050 After a 5.38% Hike Overnight
Following the market pattern, Cardano has fetched a hike of 5.38% over the last 24 hours. The value of each ADA coin against USD has finally gone beyond 0.050 USD. The medium-term of the coin is likely to be bullish. Before analyzing the four major price swings, let us look at the current data of the coin now.
Current Statistics of Cardano-
|Cardano (ADA)||23rd August 04:55 UTC|
|ROI (Return on Investment)||131.36%|
|Coin Circulation||25,927,070,538 ADA|
|Market Cap||1,300,097,276 USD|
|Value in USD||0.050075 USD|
|Value in BTC||0.00000492 BTC|
|24h Volume||62,551,357 USD|
ADA to USD Price Comparison-
Cardano faced a blow right at the starting of the day and between 01:11 UTC and 08:28 UTC, the coin was down by 3.27% losing 0.001 USD. It was followed by a hike of 9.16% and by 16:39 UTC, Cardano price was being traded near 0.051192 USD. This makes the highest point of the day for ADA coin. The third swing came as a shock to the investors as it made a cut of 0.0022 USD from the coin by 20:27 UTC. The last variation was a small and gradual hike of 2.63%, and this hike added 0.0012 USD to the coin and made the coin to go beyond 0.050 USD rising from 0.048 USD.
Cardano Price Prediction-
Cardano has finally touched its temporary target. But in order to cope with the major coins of the market, it needs another push. As past data and analysis, ADA coin is likely to have a bullish run before this year ends.
|1st Resistance||0.051467667 USD|
|2nd Resistance||0.053525333 USD|
|3rd Resistance||0.055889667 USD|
|1st Support Level||0.047045667 USD|
|2nd Support Level||0.044681333 USD|
|3rd Support Level||0.042623667 USD|
Cardano’s venture arm partners with Korean trade associations to drive adoption
Cardano’s official commercial and venture arm, Emurgo, signed a memorandum of understanding with two government-approved trade associations in Korea. The partnerships will focus on implementing Cardano for Korean digital content and mobile gaming.
Emurgo enters the Korean market
Cardano adoption continues to grow in Asia. The company’s official partner and commercial arm, Emurgo, partnered with two trade associations in Korea. According to an Aug. 20 press release, Emurgoformally signed a memorandum of understanding (MOU) with the Korea Blockchain Contents Association (KBCCA) and the Korea Mobile Game Association (KMGA), both of which are approved by the South Korean Ministry of Science and ICT.
The partnership will bring the companies together and help them develop Cardano’s blockchain-based solutions. Emurgo will work on integrating Cardano into the digital content and mobile gaming industries, two of the fastest-growing sectors in Korea.
Ken Kodama, the CEO of Emurgo, said that mobile gaming was a lucrative industry with a huge potential for blockchain implementation.
Korea’s gaming craze a perfect environment for blockchain
Considering that Korea has the highest smartphone penetration and mobile gaming rates in the world, the country is the perfect tech-savvy environment for driving blockchain-related adoption.
The high rate of smartphone ownership (9 out of 10 South Koreans own a smartphone) has made South Korea one of the biggest consumers of online content. An eMarketer study found that Korean adult consumers spend more than half of their time online on digital content platforms.
In combination with mature technological infrastructure, Korea will be a perfect place to implement Cardano’s third-generation blockchain-based solutions, Emurgo said in its press release. Leading game development and content creation enterprises, hundreds of which are members of both KBCCA and KMGA, will be able to benefit from these solutions.
We are yet to see whether these partnerships have any major effect on Cardano’s ADA, which saw a slight price increase in the past couple of days, growing over 6 percent between Aug. 21 and Aug. 22.
Cardano ADA Bounces Back Rising By Over 6% Outperforming Bitcoin Following Bearish Fall
Cardano News Today – The cryptocurrency market is known globally for its high volatility. The price action of cryptocurrencies starting with Bitcoin is totally unpredictable. One minute, the prices can be surging while the following minute they can be falling. This is exactly what happened to Cardano ADA today. The cryptocurrency fell significantly but subsequently started moving higher against the USD and BTC rising by over 6% within a few minutes. The Cardano price prediction 2019 in our Cardano news was bullish at the beginning of the year but the overall bearish pressure in the cryptocurrency market doesn’t seem to favor the token anymore.
Cardano News Today – Cardano Latest Update – Cardano Price Surges After Falling Significantly Within The Same Period
This morning, the price of Cardano ADA fell significantly against the USD as there was no support to hold the cryptocurrency from experiencing a decline. The trend remained bearish for hours with no recovery in sight. The fact that the cryptocurrency has fallen from the $0.100 despite the Cardano Shelley upgrade and every other major development by the Cardano Foundation is discouraging. Ever since it dropped below $0.100, it has faced a steady decline.
Cardano (ADA) Price Today – ADA / USD
The more the price of Cardano ADA falls, the more difficult it is for it to recover. The Cardano price prediction 2019 in our previous Cardano news placed the price of ADA as high as $0.3 by the end of the year. However, with the current price action of the token, the chances of the cryptocurrency moving this to this level are now slim. It is still important to note that the volatility in the cryptocurrency space can quickly take the price of cryptocurrencies higher against the USD. So, there is really no way to predict the trend in the coming months.
Cardano (ADA) Price Today – ADA / USD
Shortly after the price of Cardano ADA fell against the USD, it started to rise moving higher by more than 6%. At the time of writing, the price of Cardano ADA was $0.049989. This means that it is up by 6.58% against the USD and up by 6.36% against the price of BTC. The trading volume over a 24 hour period is $50,233,023 and the market capitalization is $1,296,067,789.
Bitcoin is currently struggling to hold the support at $10k thanks to the market-wide volatility. If BTC moves back to the 9k level, there is a high chance that it will retest $8.5k if care isn’t taken. Right now, investors are trading with caution and hoping that the volatility of cryptocurrencies will drive them upward soon.