Skip to main content

Is Cardano Ready For $ 3 Now?

 


Already last week it looked like Cardano was preparing for a price increase to USD 3. However, this didn't really work. But now it looks like Cardano is preparing for it again. In the last ADA News we also reported that Cardano was only able to achieve a return of over 100% within a month.

Cardano on the rise

Cardano has been on the up again for a few weeks and has broken its all-time high. Despite the excellent return of over 100% in just four weeks, Cardano failed to hit the $ 3 mark. So we couldn't report any new ADA news about this long-awaited course.

While many digital currencies are still struggling to hit the April / May highs, Cardano has taken a giant leap. Of course, this also ensured that ADA became better known and more and more investors were relying on the native token. In addition, of course, the race for the skills to create intelligent contracts continues. If everything goes according to plan, Alonzo Purple Hardrock will hit the market on September 12th, bringing DeFi and NTFs into the ecosystem.

The way is paved - but ADA is still stalling on the way towards 3 USD

More and more voices are being raised that Cardano will soon jump to $ 3. The crypto analyst Benjamin Cowen is also convinced that there will be new ADA news soon and the price will rise to 3 USD. But only if BTC stays above the 20-week SMA. The Bitcoin price in particular is an important driver for Cardano. That is why it is of great importance how BTC behaves. However, should it happen that Cowen was right, things would have to go north in the next few days and investors should be prepared for another bull rally.

ADA holds the 100-day simple moving average

It should also be noted that ADA has kept trading levels above the simple 100-day moving average. The average transaction volume is currently USD 121 million. Market capitalization is $ 89 billion with a trading price of $ 2.82 per coin. But the strength of the asset has also grown significantly and is around 13% above the 100-day average.

Due to the high returns in the last four weeks, of course, significantly more investors have shown an interest in Cardano. The ADA News was everywhere and investors became aware of it. At the same time, Cardano has the highest amount of coins used with over 70% of the current market supply. So it looks like ADA wants to test the $ 3 mark again. With the increasing momentum, it is also more likely that Cardano will break this resistance of 3 UDS.

ADA News: Cardano's value is growing

Cardano's insane prize run was enormous. After all, ADA ranks 3rd among the top crypto coins asset if one goes by market capitalization. Previously, Cardano had tried to test the resistance at $ 3 but failed to break it and was knocked down. In the following weeks, the price seems to want to skyrocket. This is of course also due to the hard rock, which should be on the market in 2 weeks.

DeFi and NFTs coming to Cardano will also help increase the value of the asset significantly. Especially because more and more investors are moving away from Ethereum, which is due to the rising fees. Cardano is now the closest natural competitor, not only picking up these users, but taking them along too. While ADA may not have the lowest fees, they are significantly lower than Ethereum. If you look at the transaction per second, you can quickly see why it is also driving more and more investors out of Ethereum. The Ethereum TPS is currently 30. Cardano can score here with 257 TPS.

So let's hope we'll be able to cover ADA News soon because Cardano cracked the $ 3 mark and simply stood up to the resistance.

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin
Post a Comment
Read more

MSP Recovery and Tokenology aim to optimize healthcare with the help of Polygon

  MSP Recovery LLC, a Miami, US-based healthcare provider with an estimated enterprise value of $32.6 billion, is partnering with Web3 company Tokenology to jointly launch a new blockchain platform called Lifechain. Lifechain wants to leverage the verifiable and transparent nature of blockchain technology to aggregate medical care claims, medical expense reports and patient data and streamline their processing. For this purpose, MSP Recovery launched its own LifeWallet in January, which already has 1 million users. In addition to the wallet and blockchain platform, an associated crypto token called LifeCoin is also used. The press release explains that the primary purpose of the system is to enable secondary healthcare providers to more effectively bill health insurance companies for their costs. “The number of medical claims tokenized going forward will surpass $50 million per day by 2024. For this we need scalability, security and sustainability, which we have only found with Polygon
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne
Post a Comment
Read more