Cardano (ADA) is one of the assets that’s seen significant price gains over January. ADA has attracted attention, for going out of its usual stagnant range-bound trading.
Cardano Broke Out of Range, Based on Renewed Publicity Efforts
ADA reached $0.055, its highest level since the summer of 2019, and looks like trying to break out of its long bearish slide. ADA also achieved most of its gains in the past few days, going parabolic both in dollar and BTC prices.
Here are the three major factors that sparked the most recent rally, where ADA rose along with other altcoins.
1. PwC Partnership
Charles Hoskinson, the project’s founder, announced a partnership with PwC, to achieve commercialization of the Cardano platform. The nature of the partnership, however, regards a rebranding and a marketing strategy, and says nothing about the actual use of ADA or the coming blockchain with additional solutions.
Still, after two years of relatively obscure activity, the Cardano project is starting to make more noticeably bullish progress. Attracting one of the biggest auditing firms to lead a new marketing strategy has added to the visibility of Cardano, and to more active ADA trading. The specifics of the campaign and partnership are not clear yet, and the date of the campaign launch is yet to be announced.
2. Yoroi Wallet Extension
The Yoroi wallet has accommodated more of the Cardano ecosystem, adding the Yoroi Shelley extension in its latest version.
Cardano's Yoroi Shelley extension 2.4.0 is now released to both Chrome and Firefox users!https://t.co/81RQYy8ghV
We have 4 new features part of this release.
Here the are: [1/5]
— Yoroi Wallet (@YoroiWallet) January 28, 2020
Currently, ADA works as a simple token, but has worked to integrate itself with wallets and become more usable in the future. Along with the updated extension, come new features. This seems to be another bullish catalyst driving ADA price towards new yearly highs.
3. Successful Davos Conference
The Davos World Economic Forum in January hosted a Cardano delegation, headed by Charles Hoskinson himself. The event was very successful in boosting the project’s overall exposure to new prospective partners and investors, and arguably triggered the start of ADA’s bull run. During the Davos conference, Cardano announced it had signed a letter of intent with Finka Advisors, as well as a new collaboration with Dust Identity.
Davos Special: @nathan_kaiser, Chairperson of @CardanoStiftung, calls for a wider discussion of #interoperability and include philosophers, economists and regulators in the conversation during his @CV_Labs keynote in @Davos during @wef. See more: https://t.co/oodLNuYq27
— Cardano Foundation (@CardanoStiftung) January 28, 2020
Cardano was one of the few projects to press the potential of blockchain solutions, viewed with extreme optimism as potentially challenging the leadership of Ethereum.
Is a Cardano Resurgence About to Begin?
The Cardano project caught the imagination of multiple investors during the bull run in 2017. But since then, the project has aged more than two and a half years since the launch of its initial mainnet. The actual use cases of Cardano and ADA remain limited with very few transactions for now, and the project once again tries to present its case for future potential. Cardano was supposed to have one of the more innovative consensus mechanisms, and allow scalable, cheap transactions and second-layer solutions.
The current price reawakening above 500 Satoshi, along with increasing dollar price, may lead to renewed speculative trading of ADA. The asset may also rise if altcoins continue move up in a general wave of optimism.
What do you think about the performance and promises of Cardano? Share your thoughts in the comments section below!
Images via Shutterstock, Twitter @CardanoStiftung @YoroiWallet The post appeared first on Bitcoinist.com. origin »
Cardano (ADA) is trading near $0.6737 after a month of sideways action, but activity across its DeFi ecosystem is quietly gaining momentum. Liquidity is improving, user metrics are ticking higher, and decentralized exchanges on Cardano are seeing their busiest stretch…
The crypto market never really stops moving. Every week, something new grabs attention and shakes things up. Cardano (ADA) is steady, but fresh faces are taking the spotlight, especially Little Pepe (LILPEPE), which everyone’s talking about.
Market dips often separate casual traders from savvy investors, and right now, the spotlight is on altcoins with real potential to rebound and outperform. Cardano (ADA) remains a trusted choice, admired for its strong blockchain infrastructure, scalability, and active development community.
The crypto market saw sharp price swings this week, with several top projects losing ground after a $1. 7B liquidation bloodbath. Cardano (ADA) fell by more than 10%, erasing recent gains and sparking debate over its long-term potential.
Among the top altcoins, the Cardano token has been on a rather severe decline lately. ADA faced massive resistance at $0. 95, and has since been in correction mode. Remittix will be taking advantage of the lull in Cardano’s development.
Key Takeaways
Why are traders optimistic about ADA’s breakout?
ADA’s trading volume and market cap are surging, which could fuel a sustained rally toward $1. 20 resistance.
What signals cautioThe post Cardano targets $1.
Key Takeaways
Cardano targets $3. 50, driven by the Voltaire upgrade, booming DeFi, & whale buys. Discover the key technical analysis & risks facing the ADA rally.
Cardano [ADA] is stucThe post Cardano's $3.
Cardano (ADA) is currently experiencing a sharp price decline. It has dropped seven percent in twenty-four hours. This decrease is happening despite its weakening correlation with Bitcoin. Technical indicators are now signaling more potential losses ahead.
Analyst Ali Martinez says whales accumulated 150 million ADA in two weeks as Cardano price holds near $0.84 and traders eye $0.85 support and $1.00 resistance.
Key Takeaways
Cardano [ADA] broke $0.93 with support at $0.51, while Open Interest hit $1.82 billion. Yet overbought RSI and bearish CVD raise doubts. Will liquidity near $1.15 spark continuation, orThe post Cardano's rally intact! - But THIS could stall ADA's $1.15 hopes appeared first on AMBCrypto.
Cardano (ADA) had a strong week, gaining nearly 20% and pushing close to the $1. 00 mark. The token is now trading just under that key psychological level, and one chart signal could bee interesting for traders.
The Cardano price prediction is causing ripples since ADA is gunning for $4 despite a minor setback. Meanwhile, Remittix (RTX) is also gaining traction with a successful presale of being close to reaching $20 million.
Cardano price has been a bit unstable lately, but many long-term holders are still confident. After dropping to around $0. 74 following the U. S. Federal Reserve’s decision to hold interest rates steady, ADA has recovered slightly and is now trading at about $0.
Cardano is up over 13% in a single day, but a hidden bearish divergence in RSI hints at a possible short pause. Still, low Age Consumed and a healthy MVRV ratio show that the ADA rally may have more legs to run, especially if the $0.
Cardano has surpassed 1.3 million staking addresses, marking a major milestone in the network’s growth. Following the rise, Cardano (ADA) is now one of the most actively staked blockchain networks, according to a June 16 update on X by Cardano…
Cardano may be nearing a bullish reversal as it forms a falling wedge pattern on the daily chart, a structure commonly associated with trend reversals. According to data from crypto.news, Cardano (ADA) was priced at $0.6404 with a market cap…
ADA whale wallets now control 35.62% of the supply, but remain underwater.
Will whales hold their ground or start trimming to break even?
Cardano [ADA] isn’t getting much love from the whaThe post Is Cardano's $1 target a stretch? Why a breakdown could be near appeared first on AMBCrypto.
Существующие криптовалюты не имеют подходящей модели, которая позволила бы им работать в качестве платежного средства в долгосрочной перспективе. Об этом управляющий Банка Англии Эндрю Бейли заявил на Всемирном экономическом форуме в Давосе.
On January 22, at World Economic Forum (WEF) in Davos, Coinstelegram Co-Founder Alexander Belov (also known as Alex White) spoke with Teeka Tiwari – founder of Palm Beach Confidential and one of the leading crypto analysts in the world.
