When Cardano (ADA) was launched in 2017, the market had high hopes about its potential to unlock the mass-market adoption of cryptocurrencies through a scientific philosophy and a research-first driven approach that might attract institutional investors.
Cardano is yet to break away from the challenges of the general crypto market but it has retained a top tier position as the 11th biggest coin by market capitalization. Its ADA coin trades around $0.081 and a massive market cap of more than $2.1B.
In the year-to-date period, the trading price of Cardano has gained a decent 87%. However, it has mostly underperformed the 194% gain of Bitcoin and the 113% gain that Ethereum recorded in the same period.
Cardano to attract institutional money with increased liquidity:
Last month, news broke that Cardano has signed up with AlgoZ to leverage the latter’s proprietary automated liquidity solutions to unlock increased liquidity in the ADA token for cryptocurrency traders and investors.
AlgoZ is a market maker solution service created by Fingenon Group for unlocking liquidity for crypto assets. By leveraging Fingenom’s existing world-class infrastructure, trading strategies, algorithms, and combined knowledgebase, AlgoZ has developed into a solution that bridges the gap between the established algorithmic trading of traditional assets and the emerging class of crypto assets. AlgoZ is currently being used by exchanges, crypto projects, and other stakeholders in five continents.
In the year-to-date period, Cardano’s trading volume has skyrocketed from $17.25M to $116.79M USD to mark a 594% increase in trading volumes in just six months. The deal with AlgoZ suggests that Cardano could potentially be moving into the big league if the increased liquidity helps it attract the attention of institutional players. By leveraging AlgoZ to improve its liquidity, Cardona will become more attractive in the cryptocurrency market because its trades will have smaller spreads and it will be in a stronger position to resist manipulations by whales.
In addition, traders would experience fewer errors caused by market inefficiencies such as when traders are forced to buy/sell a coin at market price because there’s no liquidity in the order book to facilitate limit orders. Part of a statement by AlgoZ reads,“Our collaboration with Cardano, one of the most inspiring projects in the crypto-asset scene, is expected to increase the liquidity of the token and its accessibility.”
Earlier in March, Electroneum (ETN) revealed that it was partnering with AlgoZ for market making services for its coin that was listed on Houbi Global. Electroneum is one of the few crypto projects making huge inroads into developing economies where financial inclusion is low. Electroneum is betting that it can activate growth in these economies if it succeeds in facilitating the day-to-day use of cryptocurrencies for financial transactions. In the words of Richard Ells for Electroneum,
“Partnering with AlgoZ was the obvious choice for us after our successful cooperation in Liquid and Kucoin. We are sure that the Huobi ETN holders will appreciate this partnership, which will provide them with 24/7 of steady and continuous liquidity.”
Cardano might be getting ready to reach the moon:
Interestingly, the inflow of funds from institutional players into Cardano will repress some of its inherent volatility – perhaps Cardano could become more attractive than Bitcoin; at least, to institutional investors. One of the main reasons the cryptocurrency market is yet to see traditional market assets such as ETFs is that due to the fact that BTC is still very volatile.
Cardano Investors Sell Off In Bulk ,What Hope Is There For Cardano?
Cardano News Today – Altcoins are likely to increase in value when Bitcoin surges. Similarly, a dip of the largest crypto by market capitalization can cause a fall in the prices of other digital currencies. The recent Bitcoin plunge hit Cardano (ADA) amongst other altcoins. The Cardano (ADA) dips 32.7% week-to-date. This plunge has triggered a sell-off by Cardano investors.
The Cardano development team is working hard to improve its system. The developers are set to make Cardano a rival platform to Ethereum. Through research and peer-reviewing of code supporting Cardano, they plan to improve the platform. The team affirms its readiness to perfect Cardano and aid the platform to displace Ethereum from being the king of smart contracts.
Cardano Latest News – Cardano Price Prediction 2019 – Cardano News Today – The New Yoroi Update
With the return of the bears, the price of ADA is down by 32.7%. However, the new Yoroi wallet update may not provide enough support to the cryptocurrency. EMURGO, the official partner of Cardano, works constantly on updating the Yoroi wallet with enhanced features. EMURGO releases the new versions of the light Cardano ADA wallet when they are ready for use.
The Yoroi wallet is secure, fast, and simple to use. The recent version of the wallet runs from a sandbox with API’s which helps to fast track developments. Cardano Latest Newsdisclosed that the new Yoroi update has several improved features in addition to its guaranteed security. Some of the enhancements on the web-based wallet include:
A hide balance option
Addition of Cardano payment URLs
The appearance of a new warning message when the connection to the platform’s server fails.
Cardano Price Prediction – Cardano News Today – Cardano Latest Update – ADA May be Listed on Coinbase
Satisfactory experimentation and provision of quality is the top priority of the Cardano team. Consequently, there is a delay in phase transition but the Shelly test net is currently live. Following this development, the developers search for faults as they nit-pick its code. However, ADA supporters are excited at its transition from centralization to decentralization. The phase transition is crucial to the cryptocurrency. It can favorably position the coin for listing at Coinbase. Though fading, the fame of the “Coinbase Effect” can benefit ADA.
Cardano Price Analysis – Cardano News Today – Cardano Price Prediction 2019 – Current Bearish Trend of ADA
In the last two weeks, ADA plunged by 32.7%. The bearish run is affecting the coin as it closed below the support level at 6 cents. This market condition may be a reaction to April 7 week-ending over-extension. Besides, it is likely to be a consequence of sell pressure experienced in the better part of 2018.
Cardano Price Prediction suggests a bullish run in the long term. Buyers may take advantage of the bullish breakout to trade as a high is a selling opportunity. Like other cryptos, ADA is expected to record new lows in the continuation phase of the bear trend if Bitcoin continues to dip. However, such a scenario can only occur if the breakout is strong enough to drive the prices below 3.5 cents or the lows experienced in the later part of December 2018.
Cardano (ADA) Price Today – ADA / USD
Bears of 2018 may return if there is a spike that may exceed those of June 30 week ending at 2 billion. Consequently, ADA may fall below 3 cents.
Cardano (ADA) In Preparation To Bounce Back As Altcoins Season Begins
Cardano ADA is one of the many cryptocurrencies feeling the bite of the bearish trend facing the cryptocurrency market. Its attempts to stabilize have meet pressure that has kept it below the price of last week. Cardano ADA had a 10% drop that saw it priced at $0.063. Unlike some other cryptocurrency, ADA hasn’t been able to shrug off the bearish weight dragging it under.
Cardano News Today – Cardano Price Prediction 2019 – Cardano ADA Fell By 10% In Preparation For A Bull Run
Looking at Cardano ADA price prediction made by experts, it can be seen that ADA reached the 61% Fib retracement level after moving between 16% and 38% Fib retracement levels in the previous two months. The analysis shows that if Cardano ADA can remain at this level, it could bounce up in price value. The market cap for Cardano ADA is $1.5 billion and the Return On Investment stands at 167.45%. The number of ADA token in circulation as at today stands at almost 26 billion. The 24-hour volume of the coin is $100 million.
Cardano ADA reached the highest value for the day at $0.060. It dipped by a slight margin to $0.059 but was able to recover and rise back to $0.060. Cardano ADA resistance levels are $0.0620 and $0.0630 while the support levels are $0.0550 and $0.0500. ADA needs to climb above the resistance levels to show positive growth. Though the support levels may come to bear, Cardano price predictions show that Cardano ADA has what it takes to shoulder the bearish trend in the market today.
Cardano platform runs on a proof-of-stake system that reduces the electrical power needed. This reduction in power requirement makes the system more scalable. Cardano also runs a Recursive InterNetwork structure that allows for a subnetwork to exist with a network. The subnetwork aims to allow the network to grow but remain its efficiency.
Cardano latest update reveals that Cardano plans on becoming a network of blockchains, intending to allow all cryptocurrencies to run side by side and be able to make the instant conversion from one cryptocurrency to another without intermediaries. Cardano hopes to make their network friendlier to government institutions and traditional financial bodies by allowing the attachment of metadata to transactions by users. This move will guarantee a higher level of security and privacy for each transaction.
Cardano Price Prediction 2019 – Cardano News Today – Cardano Latest Update – Cardano Working With A Platform That Makes Sense
Though Cardano has released some important network platforms, Cardano remains in its early development stage. It will take some years for Cardano to function to its full capability but for now, Cardano ADA stands with the major players as one of the viable cryptocurrency in the market. In the long term, Cardano has the potential to rise to a dominant position in the cryptocurrency arena.
Cardano (ADA) Price Today – ADA / USD
In the short term, Cardano ADA must slowly rise to the challenge and turn the bearish pressure its currently facing to a bullish one. With the strengthening of more of the project mapped out for the future, analysts give a Cardano price prediction that sees the ADA climb to $1 soon.
What do you think about the Cardano price prediction 2019 in our Cardano news today? Share your thoughts about the current price action of Cardano in the comment section below.
Cardano (ADA) Price Analysis: Significant Downtrend Below $0.060
- ADA price remained in a strong downtrend and broke the $0.0600 support area against the US Dollar.
- The price declined heavily and broke the $0.0550 and $0.0520 support levels.
- There is a major declining channel forming with resistance near $0.0568 on the 4-hours chart (data feed via Kraken).
- The price remains in a downtrend and it could continue to move down below $0.0520.
Cardano price is trading with a bearish bias against the US Dollar and bitcoin. ADA recently tested the $0.0500 support area and it remains at a risk of more losses.
Cardano Price Analysis
After cardano price failed to climb above $0.0850, it declined heavily against the US Dollar. The ADA/USD pair broke the $0.0700 and $0.0650 support levels to register nasty losses. Moreover, there was a break below the $0.0630 support level and the 55 simple moving average (4-hours). Finally, the price broke $0.0600 and tested the $0.0500 level. A new monthly low was formed at $0.0498 and the price is currently correcting higher.
An initial resistance is near the $0.0549 level plus the 23.6% Fibonacci retracement level of the last decline from the $0.0712 high to $0.0498 low. Moreover, there is a major declining channel forming with resistance near $0.0568 on the 4-hours chart. Above the channel resistance, the next key resistance is near the $0.0600 level. The 50% Fibonacci retracement level of the last decline from the $0.0712 high to $0.0498 low is also near the $0.0605 level.
The main resistance is near the $0.0630 level, which was a major support earlier. A successful close above the $0.0600 and $0.0630 levels is needed for a fresh increase in cardano in the near term. The next key resistance above $0.0630 is near the $0.0762 level. If the price fails to climb above $0.0568 or $0.0600, it could start a fresh decline.
An immediate support is near the $0.0510 level, below which the price may break the $0.0498 swing low. The next stop for the bears may be near the $0.0480 level in the near term.
The chart indicates that ADA price is currently trading in a significant downtrend below the $0.0600 resistance level. In the short term, there could be an upside correction, but the price is likely to struggle near $0.0600 or $0.0630. If the bulls fail to gain momentum, the price is likely to slide towards or below $0.0500 in the coming days.
4 hours MACD – The MACD for ADA/USD is currently losing momentum in the bearish zone.
4 hours RSI – The RSI for ADA/USD is currently correcting higher towards the 40 level, with a positive angle.
Key Support Levels – $0.0510 and $0.0500.
Key Resistance Levels – $0.0568 and $0.0600.