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
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.
News Today – Top Headline for Cardano ADA
- Cardano developers to provide patches for incentive testnet for the launch of Shelley
- Cardano ADA is decentralized
After the launch of the incentivized testnet, the IOHK and the Cardano ecosystem has been developing its tech. Currently, they are focused on network and stability enhancements. In the same light, the CEO of IOHK, Charles Hoskinson declared that the Rust team is ready to provide a network patch for the ITN in the coming week. After this, the team will continue to release regular patches to maintain network stability.
Cardano (ADA) Price Today – ADA / USD
Also, Hoskinson declared that the team was deliberating the usage of capacity metric while collating feedback and data on how the pools are being run by the users. And also if the designed protocol would, indeed, help the fountain attain decentralized and a stable network.
In the recent AMA session, the exec send:
“We have been able to collect an enormous amount of data about the use and misuse of the protocol. we’re now getting a lot of feedback about the good, the bad, and the ugly second we were very curious to see if the parameters we had chosen and the way that we had designed the protocol would allow us to achieve decentralization and performance and a stable Network.”
In a case where someone in the network acts cruelly, Hoskinson stated that it would be easy for developers to
The idea behind pledging, installed in the incentivized testnet, is where the stake pool operators assign their stakes to their pool and register a pledge address when they register the stake pool with the Cardano Foundation. Before the launch of the Shelley Mainnet, the foundation was evaluating means on how to advance the protocol. Also, the Cardano forum declared that after the launch of Shelley’s mainnet, the Haskell Shelley testnet will be released soon.
Cardano ADA is Decentralized
There has been a series of questions seeking if Cardano is decentralized or not. According to Hoskinson, Cardano is decentralized. The pools are shared equally, hence they do not get flooded in the market. The price of the ADA coin has been trading in the bearish zone for some months now. The coin has recently gained substantially. Previously, the price was trading at $0.038 and might rise to $0.041 and $0.053 per RSI and MACD. Also, the price might likely decrease if the trends fail to break the wedge.
In the past few days, Cardano has been trading upside. The massive increase has helped the coin to surpass its previous price decline. Regardless of the price volatility, ADA has maintained its price momentum as the price didn’t decline below $0.0386 in the past 24 hours. Currently, the coin is trading towards the significant support area at $0.0360, and it seems likely that it might test this area before a price recovery.
Cardano [ADA] Price Prediction 2020 | 2025 | 2030
Just like it always does, crypto made another violent, strong move in the direction no one expected it and all coins gained back losses previous weekly losses.
The total market cap almost dropped to our predicted zone of $162 billion – it stooped all the way to $170B before bouncing back up (data by Tradingview).
Right now, we are still not in the clear as the market hovers around $198 billion while the “safe” zone is above $205 billion and Fib382 line.
I would argue that total market cap chart is the most important one to pay attention to as it is a leading force and direction picker for all coins, bitcoin included.
As you can see below, Fear & Greed Index is still in the fear zone but that is improvement to the extreme fear status it had only 2 days ago. Sentiment is picking up although many voices are calling for caution as the bears are far from being away – they might only be making a brief pause.
ADA/USD Price Analysis 28th November
On a 4H ADA/USD timeframe, you can clearly see how ADA fell out of a horizontal channel between $0.039 and $0.044 and is now trying to recouperate that zone. Coincidentally, $0.039 is a sturdy support/resistance and that level will lend a lot of impact to short-term ADA price action, depending on how the battle for it plays out.
Right now, the whole market is slowing down after the mini-rocket move from 2 days ago. A move down is still more likely in my eyes as we didn’t drop as deep as I have expected in the previous bear period.
Below is our long-term ADA forecast.
What is the Cardano outlook for 2019 and the following years? Many people are currently asking themselves this question. The ambitious company is still young, but has a lot of expertise and big plans for the future. How will this affect the price and will Cardano be able to meet its timetable?
Cardano was founded by Charles Hoskinson, among others, who was also instrumental in laying the foundations for Ethereum. According to Hoskinson, Cardano is the 3rd generation of blockchain technology. While Bitcoin was the first generation and Ethereum the second, Cardano will build on it and improve its vulnerabilities. The project focuses on the development of advanced software tools.
Cardano is very innovative and has many advantages. These could provide the decisive competitive advantage and bring the project far forward and have a positive impact on the Cardano forecast:
- The platform uses Ouroboros, which is considered a new better version of the classic Proof of Stake.
- The Cardano Blockchain is designed to handle up to 10,000 transactions per second.
- Full compatibility with other blockchains.
- High network flexibility
- Improved security
- Extended functions for Smart Contracts
- More decentralisation through improved administration and control
Cardano (ADA) Roadmap
Cardano still has some goals for 2019 that they want to implement. In total, the roadmap consists of 5 phases, some of which have already started or have been almost fully implemented:
- Byron: Introduction of the Cardano-Mainnet. Users can trade and transfer the native token ADA. This phase has largely been completed, and developers are currently working on improving block storage. The Rust project is also under development and is supposed to be a tool box or open source library with different products.
- Shelley: To provide more decentralization by creating incentives for stakeholders and by improving networking and infrastructure. Network and wallet synchronization have also been improved in this phase.
- Goguen: This phase focuses on improving and integrating smart contracts. A new virtual machine, IELE, was developed to be faster, simpler and more secure at the same time.
- Basho: In this phase, development focuses on improving performance, security and scalability. It is still in the early stages of development.
- Voltaire: The final phase is about security, scalability, decentralization and above all sustainability. The introduction of a treasury system and governance should enable the community to manage itself autonomously and the blockchain to be self-sufficient.
Cardano Forecast: What do the experts say?
In general, the Cardano forecast seems to be positive. Most experts and algorithms agree that Cardano will increase in value:
- Smartereum: Smarteum’s Adam Web believes that Cardano is a stable crypto currency that should be included in your portfolio. He believes the ADA token will be worth up to US$2.50 by the end of 2020. The 5-year trend is even more positive. The price could exceed US$10 by then, the expert says. He justifies this assessment among other things with a forthcoming partnership between Cardano and Metaps Plus, one of the largest mobile phone providers in South Korea.
- UToday: It’s in the same groove as Smarteum. However, the long-term assessment is much more cautious. In five years, the price could be around US$5.
- Cryptoground: Here it is estimated that the price will rise by around 93 % towards the end of the next year and settle at US$ 0.16. In the long term, Cryptoground is convinced that the price will exceed US$ 1 in 5 years.
- WalletInvestor: This one is less optimistic. WalletInvestor assumes that the price will fall by up to 83 % to a price of US$ 0.0138 at the end of this year.
How strongly the ADA price will rise and over which period is still unclear. This depends in part on how the roadmap will be respected and whether Cardano will be able to keep to its schedule. The general market development also influences the Cardano price, of course, so there is no guarantee for the estimates.
Cardano’s Hoskinson claims Hydra protocol is 5 times faster than Ethereum
The Cardano ecosystem has been in full swing development mode after the success of the incentivized testnet. As it approaches the Shelley mainnet launch, the focus has mostly been on network stability and other improvements.
In a more recent update, the CEO of IOHK, Charles Hoskinson, revealed that the next-generation protocol on Shelley, dubbed, ‘Hydra,’ should be ready for its first paper sometime in February this year. Elaborating on the same, Hoskinson claimed that the protocol is at least five times faster than that of Ethereum. He said,
“[Hydra] This protocol is quite good. There is a lot more room for improvement but we feel can dram
David Esser, Cardano’s Senior Project Manager at IOHK, had previously told a media outlet that Hydra’s development was almost complete. The protocol would essentially ensure that users can “run multiple versions of the consensus algorithm in parallel.”
In order for Cardano to be a successful platform for smart contracts, one of the most important properties, according to Hoskinson, is that it should have a “good multi-asset standard.” Much like Ethereum which has ERC-20, ERC-721, and security token standards, the exec said that the Cardano ecosystem should also have a “competitive offering” for those who wish to issue assets.
The IOHK exec had previously commented that Cardano needs to have “three crucial things,” namely, commercialization, incentives, and technology, in order for it to “displace” Bitcoin from its number one spot.