Tag Archives: Cardano

Peter Brandt’s Cryptic Message on Cardano Stirs Market Anxiety

Peter Brandt’s Cryptic Message on Cardano Stirs Market Anxiety

By Newton Gitonga – May 14, 2024

Amidst a broader crypto market pullback spearheaded by Bitcoin’s wavering momentum, Cardano (ADA) is showcasing signs of vulnerability, sparking apprehension among investors.

Since reaching a peak of $0.80 in mid-March, ADA has experienced a significant decline of approximately 45%, sliding into a consolidation phase over the past four weeks. Despite steadfast support from bulls, hovering around the $0.44-$0.45 mark, indications suggest the potential for further downward movement.

Market sentiment was notably stirred by a cryptic tweet from seasoned analyst Peter Brandt on Sunday. While refraining from commenting, Brandt shared a chart depicting ADA’s previous support breach in late April, following a prolonged period above the $0.56 support level.

Brandt’s analysis highlighted looming selling pressure, with ADA now teetering near critical support thresholds at around $0.45. A breach below the latter could signal a deeper descent, echoing Brandt’s cautionary tone.

Echoing Brandt’s concerns, other analysts pointed out bearish indicators, with one trader citing a potential breakdown if ADA fails to rectify a bearish RSI divergence and reclaim key levels.

Conversely, some maintain an optimistic outlook, drawing parallels between Cardano’s trajectory and that of Ethereum in previous cycles. Analyst Dan Gambardello, commenting on Saturday, drew comparisons between Cardano’s current downturn and Ethereum’s past performance, suggesting a cyclical pattern that could lead to future resurgence.

Analyst Javon Marks also expressed bullish sentiments, buoyed by ADA’s recent price surge. Marks projected potential gains of up to 15X, underlining ADA’s substantial progress since breaking through resistance levels.

“Prices of ADA have demonstrated significant advancement, surging by approximately +222% towards its initial target at $2.7709,” Marks told his 38,000 followers on X.

He further speculated that the recent pullback might fortify ADA’s position for further upward movement. Marks elaborated on the potential: “With this breakout holding, another +462% upside could be in the cards to reach this target. However, based on the precedent set by previous breakouts, prices could potentially soar even higher. The $7.80 level could become a reality, marking an over 1,500% increase from current levels.”

Similarly, analyst Ali Martinz recently offered a historical perspective, drawing parallels between Cardano’s current trajectory and past bullish cycles. Martinz’s analysis suggested that ADA’s recent price correction may be a precursor to a parabolic bull run, hinting at substantial upside potential.

ADA was trading at $0.43 at press time, reflecting a 2.32% drop over the past 24 hours.

DISCLAIMER The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Brenda Ngari and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

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Tim Moseley

The One Reason Why Cardano Bulls Are Seriously Banking On 3 ADA Explosion Despite Price Downturn

The One Reason Why Cardano Bulls Are Seriously Banking On $3 ADA Explosion Despite Price Downturn

By Newton Gitonga – March 29, 2024

Cardano (ADA) has been experiencing a prolonged period of stagnation, hovering just above the $0.65 support level, while other cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) witnessed significant surges.

Despite this apparent setback, ADA proponents remain undeterred, expressing optimism about an imminent rally that could potentially propel the coin to the coveted $3 mark.

In a Saturday post, a vocal ADA supporter known as “Crybaby” reflected on the current market sentiment, drawing parallels to previous market cycles. He highlighted the scepticism and doubt among ADA holders as other cryptocurrencies surged, reminiscent of a similar scenario. However, ‘Crybaby’ remained steadfast in his belief in ADA’s potential, emphasizing the resilience of the ADA community and predicting a substantial price surge shortly.

“With the recent hype of BOME and SOL price hike. Exponentially increasing of trash talk towards $ADA. I can see that the teleportation portal on Cardano is about to be ready. Real soon. Be ready with your space suit. We’re about to be chilling with zero gravity soon.” Wrote the investor, echoing the sentiments of other ADA supporters.

Elsewhere, renowned crypto analyst Ali Martinez further echoed this sentiment, pointing out similarities between the current ADA price action and historical patterns observed from 2018 to 2021. Notably, Martinez suggested that ADA could consolidate within the $0.55 to $0.80 range before experiencing a surge to $1.70.

Moreover, the growth of the Cardano ecosystem has served as an additional catalyst for optimism among ADA supporters. Addressing concerns about scaling Cardano, Charles Hoskinson, the founder of Cardano, reassured the community in a recent video, emphasizing the robustness and scalability of the Cardano network. With over 2,300 days of uninterrupted uptime and a commitment to decentralized principles, Cardano appears well-positioned to overcome scaling challenges and drive further adoption.

While skeptics may question ADA’s ability to compete with other leading cryptocurrencies, proponents remain resolute in their belief in the project’s long-term potential. Despite the current price downturn, many ADA holders view this consolidation phase as a necessary precursor to a significant price rally.

ADA was trading at $0.65 at press time, reflecting a 0.11% drop in value over the past 24 hours. The daily chart shows ADA’s price has encountered significant resistance within the $0.76-$0.80 range. A breakthrough and sustained closure above $0.80 would signal a resurgence in bullish momentum for Cardano, potentially driving its price towards $0.90 and beyond.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

ADA at 10 Price In View As Cardano Surpasses Ethereum ETH Other Top Blockchains In Developer Activity

ADA at $10 Price In View As Cardano Surpasses Ethereum (ETH), Other Top Blockchains In Developer Activity

By Arnold Kirimi – March 24, 2024

Cardano (ADA) has emerged as a leader in developer activity, surpassing Ethereum (ETH) and other major blockchain networks. The surge in GitHub commits reflects Cardano’s commitment to innovation and growth, positioning it as a frontrunner in the competitive blockchain landscape.

GitHub commits are updates or modifications made to a project’s code on the GitHub platform using the Git version control system.

Each commit represents a specific change to the codebase, like adding features, fixing bugs, or enhancing performance. Commits include a message explaining the changes, aiding collaboration and progress tracking in software development.

Impressive GitHub Commit Numbers

IntoTheBlock reports that Cardano’s ADA is currently the cryptocurrency with the highest development activity and weekly engagements, surpassing major cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC). Following ADA, Avalanche (AVAX) takes the third spot, with Litecoin (LTC) ranking fourth.

Between March 11 and 17, Cardano recorded an impressive total of 978,780 commits on GitHub, showcasing its proactive approach to advancing its platform. In comparison, Ethereum, a leading blockchain platform, trailed behind with 407,170 commits during the same period.

This significant lead in GitHub activity underscores Cardano’s dedication to attracting developers and enhancing its ecosystem.

The rise of Cardano’s developer activity also sheds light on the broader trend of increasing engagement across layer-1 (L1) blockchain protocols. Avalanche (AVAX) recorded 315,770 commits, demonstrating a strong commitment to innovation and growth.

Similarly, Litecoin (LTC) and Tron (TRX) showed notable developer engagement, with 84,110 and 79,380 commits, respectively. Despite these efforts, these networks still lag behind Cardano in terms of overall developer activity.

Developer engagement is a critical metric for evaluating a blockchain protocol’s potential growth and evolution. High-commit counts indicate an active developer community working on decentralized applications (dApps) and improving the network’s capabilities.

This continuous development work is essential for enhancing the functionality and resilience of the blockchain network over time.

Cardano Price Performance vs. Developer Activity


ADA/USDT Price Chart: TradingView

Despite Cardano’s strong developer activity, its price performance has not mirrored this success. ADA has been trading below the $1 mark since April 2022 and is currently priced at $0.63, reflecting a 0.18% surge in the past 24 hours. Despite the positive GitHub commit data, ADA has experienced a decrease of 20.66% over the past week.

However, several analysts have recently expressed optimism about the asset, forecasting a new record high in the coming days. For instance, X user Ali Charts drew parallels between the coin’s current performance and its past bull cycle, suggesting a potential “parabolic” surge to reach as high as $10.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Arnold Kirimi and posted on Zycrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Cardano May Have Just Ignited Game-On Face For 10 ADA Price’ In This Super Cycle

Cardano May Have Just Ignited Game-On Face For ‘$10 ADA Price’ In This Super Cycle

By Brian Njuguna – March 9, 2024

As positive crowd sentiment engulfs the crypto market after Bitcoin breached the all-time high (ATH) price of $69,000, Cardano (ADA) seeks to ride on this wave by mimicking its last bull run.

Taking on X, formerly Twitter, leading market analyst Ali Martinez pointed out that if this historical pattern saw the light of day, ADA could surge to the $10 price level.

Martinez noted, “Cardano seems to be mirroring its previous bullish cycle. If this pattern continues, we could witness a brief correction before ADA goes parabolic toward $10.”


Source: Ali Martinez

Cardano hit $3 during the last cycle after surging by more than 3,200%. Therefore, if ADA follows in these footsteps, Martinez believes the $10 price threshold will be in the offing as the eighth-largest cryptocurrency will have soared by more than 2,000%.

Since Cardano has broken out of a cup & handle formation that came to light in June 2022, ADA is likely to smash the $3 price level this cycle.

Cardano Experiences Heightened Network Activity

Based on CoinGecko data, Cardano has already recorded a 47.5% monthly surge, and increased network activity has played an instrumental role in this uptrend.

Specifically, ADA has been depicting strong network engagement and increased investor interest thanks to rising transaction volume and active daily addresses.

Cardano was hovering around the $0.7 level at press time, according to CoinGecko.

Top crypto analyst Dan Garmbadello recently echoed Martinez’s sentiments that Cardano was eyeing a parabolic movement since it had broken out of a major structure.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Original article posted on the Zycrypto.com site, by Brian Njuguna.

Article re-posted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Cardano’s Charles Hoskinson Warns of Centralization Risks in the Crypto Industry

Cardano’s Charles Hoskinson Warns of Centralization Risks in the Crypto Industry

By Newton Gitonga – February 22, 2024

Charles Hoskinson, the founder of Cardano, has issued a stark warning about the dangers of centralization in the cryptocurrency industry.

Speaking during a live broadcast titled “Legacy is Eating Crypto” on Monday, Hoskinson cautioned that the growing influence of a small number of powerful actors could undermine the core principles of cryptocurrency, such as decentralization, privacy, and equality.

Notably, the pundit highlighted the rapid growth of stablecoins, such as Tether (USDT) and USD Coin (USDC), which now account for approximately 70% of all on-chain transaction volume. According to Hoskinson, these stablecoins, backed by traditional assets, are subject to the regulations of their jurisdictions and central issuers, creating potential vulnerabilities and centralization risks.

“USDT and USDC…are asset backed which means that there’s a central issuer. There is a company who is regulated in a jurisdiction subject to that jurisdiction’s rules and regulations, and whatever that jurisdiction wants to put upon that company, permissive or otherwise, they are subject to it cannot get out of it,” said Hoskinson.

In contrast, Hoskinson advocated for algorithmic stablecoins, which are not backed by traditional assets and operate decentralised. Notably, algorithmic stablecoins, such as DAI, maintain their value through algorithms and smart contracts without relying on a central issuer or traditional assets. However, the crypto market has been cautious since the TerraUSD (UST) de-pegging incident in May 2022, which raised concerns about their safety and caused a ripple effect on the broader crypto market.

Despite the risks, algorithmic stablecoins offer advantages such as decentralization, autonomy, and potentially higher yields. Developers have thus been improving their design and functionality, positioning them as a potentially significant force in the cryptocurrency market.

Hoskinson also criticized the increasing power of a small number of Legacy actors, including centralized exchanges, regulated institutions, and ETF holders like BlackRock, who control a significant portion of the value flow in the cryptocurrency market. He argued that these entities have the power to decide the future of cryptocurrency projects, as they can influence listings, liquidity, and regulatory compliance.

“As more of these Legacy actors come in, they’ll acquire more and more of the supply. They already have a fifth of what Satoshi has,” Hoskinson added. “10 Legacy regulated institutions control the vast majority of your value flow and also get to decide the future of all of these projects.”

That said, Hoskinson emphasized the importance of preserving the core values of cryptocurrency, including freedom of association, commerce, and expression, and the need to resist the encroachment of legacy actors in the industry. He further urged the community to remain vigilant and to consider the long-term consequences of centralization and the potential erosion of the core values of the cryptocurrency movement.

Notably, Hoskinson has consistently advocated for decentralization, even as Cardano continues to receive improvements aimed at promoting security, scalability, and sustainability while empowering users and developers with greater control and autonomy.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Charles Hoskinson Forecasts Cardano’s Triumph Over Ethereum with Upcoming Developments

Charles Hoskinson Forecasts Cardano’s Triumph Over Ethereum with Upcoming Developments

By Newton Gitonga – February 10, 2022

Charles Hoskinson, the founder of Cardano, has expressed confidence in the future of the network, underscoring its potential to surpass Ethereum in the realm of decentralized finance (DeFi) and blockchain innovation.

Speaking during a recent interview with Dan Gambardello, host of the Crypto Capital Venture YouTube channel, Hoskinson noted the remarkable growth of the Cardano ecosystem, especially in the face of challenging market conditions. He emphasized the community’s dedication and collaborative efforts in propelling Cardano forward.

Despite initial scepticism labelling Cardano as a “ghost chain,” he stressed how the project had defied expectations, boasting over half a billion dollars in total value locked (TVL) during a bear market.

“We’ve had overwhelming participation and constant growth and innovation,” said Hoskinson, highlighting the vibrant activity within the Cardano ecosystem, with numerous projects and transactions fueling its expansion.

Addressing criticisms and comparisons to Ethereum, Hoskinson underscored Cardano’s steady progress and its distinct approach to scalability, governance, and innovation. He pointed out the misconceptions surrounding benchmarks like TVL and ADA price, emphasizing the significance of Cardano’s comprehensive roadmap and its focus on building a robust infrastructure.

“We know how to scale, we know how to get fast finality, we know how to get partner chains in, we know how to get rollups in,” Hoskinson asserted, outlining Cardano’s strategic initiatives to address scalability and network efficiency.

According to the pundit, a pivotal aspect of Cardano’s future success lies in its governance model and the utilization of its treasury funds. With nearly $750 million worth of ADA in the Cardano treasury, Hoskinson highlighted the community’s governance over these resources, enabling strategic investments in ecosystem growth and development.

Moreover, Hoskinson emphasized Cardano’s collaborative approach and burgeoning partnerships with other blockchain projects. He also highlighted the interoperability and synergies fostered by Cardano’s Partner Chains framework, enabling seamless integration with other blockchain ecosystems.

Hoskinson expressed confidence in Cardano’s potential to become the dominant governance system in the crypto space, toppling networks such as Ethereum.

“We’re getting recursion and rollups and that means all this stuff that’s happening in Ethereum not only works on Cardano works best on Cardano…so we will be probably one of the dominant zero knowledge layers thanks to all the work,” he added.

In light of recent developments like the intersect platform and advancements in scalability solutions, Hoskinson asserted that Cardano is poised for exponential growth. He encouraged a shift away from tribalism and adversarial dynamics within the crypto space, emphasizing the collective benefits of collaboration and innovation.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Cardano Whales On Buying Spree

Cardano Whales On Buying Spree With Record ADA Holdings As Price Closes In On Bullish Sprint

By Newton Gitonga – April 13, 2022

Cardano’s biggest whales seem to have bounced back after an eight-month-long drawdown that saw investors offset some of their ADA holdings for profit to scoop up more coins.

According to blockchain analytics firm Santiment, despite ADA being down close to 60% from September highs, ADA whales are back to owning the largest supply of coins. ADA whales are entities that hold 10 million coins or more in their wallets.

“Cardano is down -59% since its $3.10 all-time high. However, the asset’s top whales (holding 10M+ ADA) have returned to their largest percentage of supply held in two years, at 46.6%. Note that a large portion of these addresses is owned by exchanges.” Santiment wrote on Tuesday.


(Click image for larger view)

A recent report by the firm has also shown that the group of addresses holding between 10,000 to 100,000 ADA has been accumulating rapidly, as they continuously bought dips since the price started dropping in late September and now hold 16.8% of the available supply./p>

Santiment also sheds light on Bitcoin’s whale behavior, noting that the cryptocurrency saw a steady supply of 4,000 whale transactions exceeding $1M+ Monday through Friday, with mild slowdowns on weekends. It however notes that large increases are needed if the price is to foreshadow March highs./p>


(Click image for larger view)

Looking at Ethereum and other altcoins, Santiment noted that the ongoing FUD could create “buy the dip” opportunities. The firm also mapped out elevated growth in exchange outflows for ETH, noting that “this climb continues pointing to a greater proportion being kept away from exchange sell-off risk.”/p>

That said, ADA continues its struggle to reclaim the $1 price level after slumping along with other major cryptocurrencies as a result of negative macroeconomic events. Two weeks ago, ADA managed to rise above $1 after bouncing off the $0.78 support and breaking a crucial resistance downtrend line before tapping $1.25. That strength, however, seems to have been sapped in the past ten days, with the price falling below the dollar threshold./p>

Santiment has stated that apart from positive fundamentals, for ADA’s price to rise, an uptick in the number of transactions equal to $100,000+ would be crucial. This may perhaps inject the much-needed liquidity to push ADA back to fresh highs. At press time, ADA ($32B Capitalization) is trading at $0.96, up 5,460.20% from its all-time low./p>

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley