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Cardano $ADA Community Joining Bitrise Coin

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  • More secure and fast decentralized financial systems.
  • Attractive investor rewards
  • Cheaper transaction cost on the Bitrise platform.
  • Multiple products on the ecosystem.

Cardano $ADA community has joined Bitrise Coin, a mooning crypto coin that is exciting the crypto community. This has been one of the biggest news for the BRISE token holders that the Bitrise team has released recently.

Bitrise coin has been making big moves in the crypto market since the end of July 2021, when the token launched. As a DeFi project, the coin has been catching the attention of crypto investors with its impressive performance, especially the fast accomplishment in building the Bitrise platform.

There have been many crypto community members joining Bitrise over the last few weeks, but the recent joining of the Cardano community members is a huge milestone for the project. This is because Cardano is not just another cryptocurrency.

Cardano is currently ranking #6 in the list of largest cryptocurrencies in terms of market capitalization. Since the platform was launched in 2017, Cardano has managed to build a huge team of community members who are in their thousands.

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When Cardano members join a coin, they create a huge demand for the coin, which automatically increases the token price. This is what is currently happening at Bitrise, where investors are experiencing a bull run that might last for a longer time considering the upcoming developments as announced by the team.

The joining of the Cardano community members has had a huge impact on the Bitrise coin. The last few days have been great for BRISE token holders as the token price has been surging by huge percentages. Investors are making thousands in profits from the token surge because of this move by the Cardano Community.

Bitrise team has said that the joining of the Cardano community has more than just increased the demand and price of the token. Cardano being a reputable coin will improve Bitrise image as a crypto project. The move shows the confidence that Cardano investors have in this token, which will help grow the community.

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But the joining of the Cardano community is because of the potential that the Bitrise project has as DeFi. The team is building one of the biggest decentralized financial systems in DeFi. What’s making Bitrise unique is how it has accomplished so much in less than four months.

Coming soon, as announced by the team, is the staking process, which is the most talked about thing in the market today. The staking rewards are attracting thousands of crypto investors.

The coming of the Cardano investors may have been greatly influenced the upcoming staking, which is to be launched by the end of November. The platform will be sharing 80%APY of the revenue generated by the products on the Bitrise ecosystem. This reward is definitely one of the Cardano community targets.

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 Follow Bitrise social medial platforms for the latest updates on the staking process and more!

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Cardano Past and Present Challenges in the Crypto Industry

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  • Smart contracts and network scalability has been Cardano’s challenge.
  • Despite this, Cardano (ADA) is still showing an impressive performance in the market.

Cardano (ADA) has been through a mix of positive and negative downsides since its inception. Starting from the past, it has been striving to get a smart contract for smooth platform functionality. Also, apart from this, one key thing that Cardano has faced is scalability, according to a report.

However, this makes people keep doubting how Cardano claims to be an Ethereum killer and also a third-generation blockchain. This was seen from the time that the Cardano team started to fight for smart contract acquisition to make the network stand out among the odds in terms of network scalability.

Cardano has already made a significant step forward by tackling some of its challenges. This includes the implementation of the Alonzo Hard Fork Upgrade, Basho, Mamba, and other network extensions for betterment. Seemingly, all these appear not to serve as a catalyst to solve Cardano’s underlying tragedy.

Mention to the community what are technical challenges openly but not in a sense of FUDing but rather that some solution needs to be found. This could also be a good thing because some community members in the spirit of the decentralized brain could start looking for solutions (research) or even start implementing them (development).

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Nevertheless, regardless of all these, Cardano is still showing an absolute performance in the market. It keeps climbing ranks while rocking new all-time highs. At writing time, ADA price trades at $1.56 with a market capitalization of over $50 billion on Coingecko. This makes it ranks as the 6th largest cryptocurrency in terms of market cap.

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Cardano (ADA) Down 50% from Peak: Possible Reasons

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Largest proof-of-stake network sees its token in multi-week painful decline.

ADA, a core native asset of the newest smart contracts platform Cardano, touched $1.5 in its multi-month freefall. Here’s what makes it plummet before gaining 200% in five weeks.

ADA loses 50% since early September

On Sept. 2, 2021, the ADA price reached its all-time high at $3.10 on the eve of the activation of its smart contract functionality. This major upgrade went live as a result of Alonzo hard-fork mainnet activation in mid-September.

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Cardano (ADA) price loses 50%, here's why
Image by Binance

At the same time, its activation failed to catalyze another wave of ADA price rally: the asset entered a multi-week “bear market.” On Nov. 26, 2021, it reached the lowest level since Aug. 9.

The most obvious mid-term catalyst is the criticism of Cardano’s smart contracts performance. As covered by U.Today previously, the viability, speed and functionality of this system were attacked by both Ethereum (ETH) and Bitcoin (BTC) maximalists.

In terms of short-term bearish catalysts, the most obvious one is the delisting of Cardano’s ADA by eToro, a mainstream derivatives trading platform. eToro restricted its U.S. customers from opening positions in ADA and Tron’s Tronics (TRX) from Dec. 26, 2021.

Will ADA see another rally in 2022?

Cardano’s inventor, Charles Hoskinson, has already slammed eToro’s decision and attributed it to the lack of a global regulatory standard in the sphere of crypto and blockchain.

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As U.Today reported earlier, Mr. Hoskinson is certain that 2022 will be a splendid year for his ecosystem. Speaking about its roadmap for the coming year, he called it a “living ecosystem.”

He calls Cardano’s technology unbelievable and claim

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Red Alert In Crypto Space, Cardano Price Trembling Yet Remains Bullish

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Crypto space witnessed a replica of a May crash but with lesser intensity. Bitcoin price is hovering between $53,800 and $54,400. However, some assets stood strong above their support levels like Ethereum & Cardano.

Despite the bearish trend prevailing in the short-term, yet the ADA price still remains bullish in the higher time frame. 

Cardano price maintained a substantial downtrend ever since the beginning of the present trading day. In the daily chart, the asset has formed a double-bottom and was expected to surge high slicing through the neckline.

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But the asset was rejected at the neckline in the last few hours of the last trading day. ADA price dumped nearly 15% ever since then, however, it’s also attempting to rebound. 

3rd Cardano sell-off is going on since the early hours of the Asian trade. The dump dragged the price much below the 200-day MA and extended the gap between the strong resistance levels around $2.5.

A major reason for the sell-off is speculated to be the pandemic FUD circulating in space. However, the retracement is expected to be well in place as more than 70% of ADA is staked and keeping only 30% in circulation is pretty bullish for the asset. 

Exactly a year ago, the Cardano price was around $0.03 and the asset was surrounded by immense FUD. However, the ADA price didn’t stop then and may not stop now also.

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Collectively the asset maintains a substantial rally ever since it faced an extreme sell-off in September. Yet the strong support levels still reside around $1 and the asset is still bullish until the asset sustains above these levels. 

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