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Cardano

Cardano builds strong fundamentals to flip Ethereum

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  • Cardano recently launched new certification levels for smart contracts on its blockchain network.
  • IOHK reveals that Cardano uses 0.01% of the energy of Bitcoin, making it one of the greenest Blockchains.
  • Cardano’s had over 3254 GitHub commits this week, higher than most other cryptocurrencies, implying developer commitment to the project.
  • Unlike Bitcoin, Ethereum and most other altcoins Cardano is directly working with the government to boost ADA acceptance and utility.

At a time when financial regulatory agencies worldwide have increased their scrutiny of cryptocurrencies and stablecoins, Cardano is forming partnerships with governments. Proponents expect Cardano to reclaim its spot in top three cryptocurrencies by market capitalization soon. 

Cardano partners with governments, attempts to make blockchain applications mainstream

With the launch of smart contracts on the Cardano blockchain, new projects and developers have joined the ecosystem. At the same time, Cardano Foundation has formed partnerships with governments worldwide, working on blockchain solutions to solve real-world problems. 

Cardano is popularly known as “The Green Blockchain,” as it consumes 0.01% of the energy of Bitcoin. This makes ADA blockchain one of the greenest in the crypto ecosystem. Bitcoin and Ethereum have been subjected to severe criticism on their energy inefficiency. Cardano is ahead of its competitors from the onset, with a cleaner and faster blockchain network. 

The launch of Ethereum 2.0 (in early 2022) is likely to intensify the competition for the fastest blockchain network using the proof-of-stake (PoS) consensus mechanism. Until then, Cardano tops the list of fast and efficient PoS blockchain networks. 

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Input Output Hong Kong (IOHK), the blockchain firm behind Cardano revealed that older cryptocurrencies like Bitcoin and Ethereum are currently using more energy than Argentina. IOHK stated that Cardano uses less than 1% of the energy that the Bitcoin blockchain consumes. 

Further updates like high rate of development (identified by Github commits per week) and launch of new certification levels prepare the ADA blockchain to reclaim its spot in top three cryptocurrencies by market capitalization. 

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While most cryptocurrencies are currently under regulatory scrutiny, Cardano has formed partnerships with the Government of Ethiopia and Burundi to work on the country’s digital transformation. 

Charles Hoskinson, founder of Cardano shared updates of the partnership on his Twitter timeline. Hoskinson tweeted:

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Tether, Mirror Protocol, XRP and other cryptocurrencies recently made headlines for being under regulatory scrutiny alongside top crypto firms and exchanges. Cardano’s strategic roadmap of a greener blockchain with government partnerships positions ADA in the top three cryptocurrencies of the future. 

Widely known as the Ethereum-killer, ADA has offered the solutions that traders and developers are waiting for (in the ETH network) over five years now. 

FXStreet analysts have evaluated the Cardano price trend and predicted that the altcoin is a coin toss despite bullishness in the cryptocurrency market. 

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Cardano

Cardano In A Critical State, ADA Price May Slide To $1 If Fails To Flip!

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Cardano nowadays appears to have remained distinct with the market as the ADA price failed to follow the market trend. Ever since the Alonzo hard fork, the crypto space experienced multiple prices jumps at different intervals.

Bitcoin flipped the sideway trend and ranged high to smash its highs just below $70K. At this time, most of the assets inculcated a bullish momentum, however, ADA still remained out of the crowd and trended similar to a stablecoin.

No doubt the asset did attempt to flip the narrow trend, yet the fresh crash trembled the plot to a large extent. The ADA price currently is attempting very hard to sustain above $1.5 and appears it may be successful to a large extent.

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Yet, if the price trend fails to flip, the price is expected to decline below $1.5. A popular analyst, Micheal de van Poppe, believes the price may slowly drop to the major support levels close to $1 very soon. 

The analyst marks these support levels as the most important levels to sustain and also reverse the trend from here. A reversal may uplift the price back above $1.5 levels which may later go and test the upper resistance levels too. However, the important resistance levels still remain around $2.2 and surpassing these levels may confirm with the bull run. 

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Collectively, Cardano currently in the past 2-3 months is swinging in a very narrow range and trending with the same symmetrical triangle.

However, the asset has now broken the triangle and heading towards the south, a notable flip above the support levels is very much mandatory. Also, some still believe that the time has come for the ADA price to flip as a lot of DeFi stuff is incoming in the form of Ardana, Sundae Swap etc. 

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Cardano

Cardano (ADA) Price Could Decline to 15% Any Moment From Now

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  • Cardano (ADA) is at risk to decline to 15%.
  • If this happens, the ADA price will drop to $1.26.

There is a high possibility for Cardano’s ADA price to plummet down to 15% in the crypto market any moment from now. The bearish movement was spotted based on how ADA is currently struggling to secure reliable support to start a new price swing.

In many ways, this shows that if the price downtrend momentum grips ADA, the Cardano community should expect the ADA to decline to $1.26, according to a report. However, this time is deemed a very crucial moment for Cardano to strengthen its crypto arms for betterment.

As said earlier, apart from the predicted $1.26 drastic decline, it is worth mentioning that ADA is still at risk to see further losses if it fails to regain crucial support to prevent greater losses in the coming day.

Meanwhile, ADA’s price swiftly skyrocketed up to $1.72 on November 24. Since then, it has seen a continual drop down of over 13%, recording a new swing low of $1.48. Additionally, citing from the report, Arms Index (TRIN) — a tool that gauges all the market sentiment signals that there are more sellers than buyers in the market these days.

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Indirectly, this could generally be the behind-the-scenes of why Cardano keeps retrogressing in its performance nowadays. Furthermore, many also attribute Cardano’s current downside to how eToro exchange attempted to delist ADA due to a recent sell-off.

Above all, it is not too late for Cardano to jumpstart a new price performance in the market. If bulls decide to buy and trade more using ADA, the crypto could find huge support to form a new price surge. At writing time, Cardano (ADA) trades at $1.51 with a 24-hour volume of over $1 billion on CoinMarketCap.

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CQ Twitter Poll: VeChain Wins Against SHIB, DOGE, and ADA

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  • The Crypto market is down, following the most dominant crypto Bitcoin.
  • ADA, DOGE, VET, SHIB are some cryptos that caught the attention of investors.
  • VeChain won the poll with 57.8%.

For some time, the cryptocurrency space becomes extremely furious, followed by whales on the streets. But the most dominant crypto, Bitcoin, initiates the dump and most of the assets just follow suit. Likewise, almost all crypto assets crashed heavily. As a result, many weak hands just let their assets go.

On the other hand, while other retail traders are negatively impacted by the dip, some traders are planning to buy during this time. Moreover, Cardano (ADA), Dogecoin (DOGE), VeChain (VET), and Shiba Inu (SHIB) are the cryptos that caught the eye of investors all around the world. Thus, CoinQuora published a Twitter poll to know the opinion of each follower in terms of which crypto they are willing to buy during the dip.

As a result of the poll, VeChain takes the lead with 57.8% votes, followed by Shiba Inu with 19.3% votes. At the same time, Cardano in third place gathered 17% votes, and Dogecoin took fourth place with 5.9% votes.

According to the result, the majority of CoinQuora’s followers believe in the VeChain network and they are willing to buy more VET tokens during the dip. At the time of writing, the VET price is trading at $0.1106 with a 24-hour trading volume of $389,052,842, according to CoinMarketCap.

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