ADA's gains largely coincide with the conclusion of the fourth Cardano Summit, among other catalysts.
Charles Hoskinson, the founder of Cardano, delivered a scathing critique of meme coins in a live stream broadcasted on Halloween, October 31, 2024. Speaking from Colorado, Hoskinson addressed the current state of the crypto market, focusing particularly on the proliferation and perceived inherent flaws of meme-based cryptocurrencies. Cardano, Not Meme Coins Hoskinson did not mince words […]
Markets have started to sell-off, and Bitcoin needs to hold $70,000 for the BTC and altcoin rally to continue.
This week, the crypto industry is enjoying a moment, with the global market cap hitting $2.42 billion. Bitcoin, the world’s top digital asset, is leading the charge, with its price above $72,000 this Thursday. Other major altcoins have mixed results; Ethereum, Dogecoin, and Solana landed in reds today after enjoying a brief run for a […]
EMURGO, a founding entity and the commercial arm of the Cardano blockchain, has disclosed five significant updates set to be introduced in the upcoming second phase of the Chang hard fork. In a blog post published on October 29, EMURGO outlines the advancements that will further Cardano’s progression toward full decentralized governance and enhanced network […]
The Cardano market (ADA) is now at a crossroads, going through tough times with the cryptocurrency market heating up. Despite the latest $73,000 mark that Bitcoin had attained today, the Cardano trade is losing its way forward, at the current time trading at $0.356. That amounts to 12% of lost value compared to what the coin hit just last month. Today, ADA won a minimal 2.2%, but investors see it failing in comparison with newer coins, which now are rapidly growing in prices. Related Reading: Analyst Eyes $6,000 For Ethereum As Key Support Level Emerges – Details Historical Trends Show Headroom For Further Growth For ADA holders, crypto expert Ali Martinez has some encouraging news. He thinks Cardano might behave in line with its spectacular 2020 expansion. Following a protracted consolidation period, ADA surged by almost 4,000% and peaked at $3.10 within 10 months. I believe #Cardano $ADA is following a similar pattern to 2020. If history repeats, we might see a pump around November 18—about two weeks after the US elections—and a potential market top by September 2025. pic.twitter.com/GgKWBqzYXU — Ali (@ali_charts) October 29, 2024 Martinez thinks if history repeats itself, we may see a price jump starting around November 18, 2024–two weeks after the US elections. As of now, Martinez said ADA has spent 455 days in a range since the last peak, and may hit $6.50 in September 2025 as it is going to skyrocket by 2,288%. ADA market cap currently at $12.4 billion. Chart: TradingView.com On-Chain Activity Raises Concerns A fresh analysis from IntoTheBlock that showed Cardano’s Network Value to Transactions (NVT) ratio has surged to its highest level since June adds to the concern. Often preceding price pullbacks, this statistic points to a decrease in on-chain activity relative to price increases. The report underlined that ADA might struggle to keep increasing pace without more on-chain involvement. Cardano’s NVT ratio has surged to its highest level since June, indicating a decrease in on-chain activity relative to price growth. This classic overvaluation signal is notable given $ADA‘s recent underperformance, suggesting the potential for further downside. Historically,… pic.twitter.com/yTx83exBXM — IntoTheBlock (@intotheblock) October 29, 2024 Despite these challenges, some analysts are optimistic about Cardano’s long-term horizon. They foresee an estimated 130% growth in the next three months and an impressive 140% increase in the next year. This gap between short-term struggles and long-term optimism would suggest that Cardano has short-term pain ahead but that significant recovery is on the horizon. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks The Road To Recovery For Cardano This is a challenging time for Cardano as investors monitor closely its price movement and the behavior of trading with the token. As long as concerns over further dips linger, there are some individuals that believe this is a good opportunity to enter the ADA market before it takes off. Analysts like Ali Martinez offer hope based on previous tendencies despite Cardano’s recent performance. ADA needs the next several weeks to solidify its position in the fast-changing crypto industry. Investors will monitor to see if Cardano can restore market momentum. Featured image from CoinFlip.tech, chart from TradingView
Bitcoin’s shallow pullback shows buyers are not rushing to the exit and increases the likelihood of a rebound to new all-time highs. Will altcoins follow?
On-chain data shows that Cardano’s Network Value to Transactions (NVT) Ratio has surged recently. Here’s what this could imply for ADA’s price. Cardano NVT Ratio Has Surged To Its Highest Level Since June In a new post on X, the market intelligence platform IntoTheBlock discusses the latest trend in Cardano’s NVT Ratio. The “NVT Ratio” here refers to an on-chain indicator that keeps track of the ratio between the ADA market cap and transaction volume. When the value of this metric is high, it means the value of the network is high compared to its ability to transact coins. Generally, this can signal that the coin’s price is overvalued. Related Reading: Ethereum Bullish Signal: Whales Withdraw $750 Million In ETH From Exchanges On the other hand, the low indicator implies the market cap may be undervalued compared to the blockchain’s volume, so ADA’s price could be due to a rebound. Now, here is a chart that shows the trend in the Cardano NVT Ratio over the last few months: As is visible in the above graph, the Cardano NVT Ratio has witnessed a notable surge recently, even though the coin’s price has been following an overall bearish trajectory. This would suggest that the transaction volume has tanked on the network. Following this latest increase, the indicator has spiked to the highest level since June, implying that the cryptocurrency hasn’t been this overvalued in six months. The reason behind this trend is likely to be the lackluster price action the coin has witnessed for a while now. Other assets, such as Bitcoin, have started to pop off recently. At the same time, ADA has remained a sideways movement, so ADA investors may be fed up and leave to explore greener pastures. Related Reading: “Time To Get Ready For Another Bull Run,” Bitcoin Analyst Says— Here’s Why “Historically, elevated NVT ratios often precede price pullbacks,” notes the analytics firm. Thus, the recent spike in the indicator could spell further trouble for the already struggling coin. The Cardano NVT Ratio could now be to keep an eye on in the coming days, as any more jumps in the metric may confirm a bearish outcome. However, there is also the possibility that the trend will see a reversal, with enough activity returning on the network to justify its current market cap. ADA Price The cryptocurrency sector as a whole has been rising during the past day, and Cardano has followed suit. Although the coin’s surge has been smaller than Bitcoin’s, the asset has climbed above the $0.348 level. The chart below shows the coin’s recent trajectory. Featured image from Shutterstock.com, IntoTheBlock.com, chart from TradingView.com
The crypto market is heating up, with Bitcoin on the brink of all-time highs and anticipating a major breakout across assets. Cardano (ADA) is also at a critical juncture, showing striking similarities to its price action in 2020—a year that saw ADA skyrocket by over 4,000% in under 12 months. Related Reading: If Dogecoin Breaks Above Key Resistance ‘We Could See A 25% Rally’ – Top Analyst Renowned analyst Ali Martinez recently shared a technical analysis comparing ADA’s current market structure to November 2020. According to Martinez, ADA’s recent consolidation around key levels could set the stage for a significant upward surge, particularly following the upcoming U.S. election. Martinez’s analysis highlights Cardano’s pattern of explosive growth after periods of accumulation and points to the potential for a strong rally if Bitcoin breaks new highs. Investors are now closely watching ADA’s price movement, eager to see if it can replicate its historic bull run. As the market prepares for a possible shift, Cardano’s performance in the coming weeks could offer insight into broader altcoin momentum in this cycle. The next moves could be decisive, making ADA one to watch in the rapidly evolving crypto landscape. Cardano Following 2020 Bullish Pattern Cardano has captured the attention of analysts and investors who see its current consolidation as a possible signal of accumulation, hinting at a strong move up ahead. Well-known analyst Ali Martinez recently shared a technical analysis on X, comparing Cardano’s current price behavior and its pattern in 2020—a year in which ADA experienced an extraordinary 4,000% surge. According to Martinez, Cardano’s price action is displaying a similar setup, suggesting the possibility of a breakout around November 18, roughly two weeks after the U.S. elections. This timeline aligns with historical patterns, where ADA consolidates before explosive upward moves. Martinez’s analysis points to a long-term bullish target of $6.30, representing a potential 2,000% increase from current levels. He anticipates that if it materializes, this rally could lead to a market top for Cardano around September 2025. This prediction is based on ADA’s cyclical price trends, where significant rallies have historically followed periods of low volatility and accumulation, driven by market sentiment and broader crypto adoption. Related Reading: GOAT Outpaces PEPE Growing To $900M Market Cap In 2 Weeks – Details Many investors are now watching ADA closely, as such a rally would not only be significant for Cardano but could signal a broader bullish momentum across altcoins. Cardano’s current price level has attracted a mix of institutional and retail investors seeking opportunities before what could be a substantial move. With both on-chain data and technical indicators supporting a bullish outlook, ADA’s upcoming price action may set the tone for the altcoin market in the coming months. If history repeats, Cardano could be primed for one of its most powerful surges, attracting new interest and capital into the ecosystem. ADA Technical Levels Cardano is trading at $0.346 after experiencing a clear rejection from the 4-hour 200 exponential moving average (EMA) at $0.351. This key level has been pivotal, as a break above it and holding it as support would signal a potential shift toward a short-term uptrend. For bulls aiming to regain control over ADA’s price action, establishing a firm foothold above the 200 EMA is essential, as it would likely attract buying interest and strengthen upward momentum. Additionally, the $0.37 supply zone presents another significant hurdle for ADA, as bulls have struggled to reclaim this level since early October. This resistance zone has repeatedly capped price action, indicating that substantial buying pressure is necessary to break through and sustain gains beyond this mark. A bullish trend could gain traction if ADA breaches the 200 EMA and the $0.37 supply zone. Related Reading: Bitcoin Short Positions Face Serious Risk Above $68,500 – Details However, if these levels remain unclaimed, ADA’s price is likely to continue consolidating sideways in the near term. Such a pattern would allow the market to stabilize and potentially attract fresh demand before attempting another breakout, though it may delay any significant upward movement for ADA. Featured image from Dall-E, chart from TradingView
In a keynote titled “After Voltaire: The Next Evolution of Cardano,” Charles Hoskinson, the founder of Cardano, unveiled an ambitious roadmap that could see the blockchain ecosystem running a nation-state by 2030. Hoskinson envisions this nation-state as a substantial entity, potentially serving tens of millions of people. We as an ecosystem have to make a […]
The Cardano price has faced severe downward pressure compared to other cryptocurrencies in the past few weeks. ADA recently started a fresh drop below the $0.3550 zone and is now down by about 15% in the past 30 days. This lackluster performance has kept many ADA holders in the red zone, with unrealized losses mounting as the price continues to struggle. As a result, it is only natural for many to keep selling to reduce their losses, which in turn could cause the ADA price to keep falling, at least in the short term. Analyst Says Cardano Price Is Already 80 To 90% Into Correction The current ADA price action is very difficult to deal with, especially for long-term holders who have continued to hold despite the laggard performance. According to an analyst on TradingView, the best way for these ADA holders to keep approaching the ADA price outlook is to keep holding. This is because the drop is already quite advanced and we can say that 80 to 90% of the correction is already over for this pair. Related Reading: Bitcoin ETFs Reach $3 Billion Inflows In October, Retail Investors Lead The Charge – Report To put things in perspective, Cardano is currently trading around 56% below its 2024 high of $0.7742, despite broader market rallies seen in September and October. According to crypto analyst Alan Santana on TradingView, ADA appears to be consolidating around the same price levels seen in November 2023, showing limited upward momentum. In comparison, most other large market cap cryptocurrencies like Bitcoin, Solana, and BNB are already on their way to retesting their 2024 highs made in the first quarter. Interestingly, there exists a possibility of Cardano dropping lower in the coming months, especially if Bitcoin were to correct massively. However, as analyst Alan Santana pointed out, Cardano is already almost done with its corrections. As such, a fresh drop in the ADA price wouldn’t be a super strong drop and would last only a few days or maximum a few weeks. Sustained Long-Term Growth For ADA According to Santana, selling ADA now may not be the best move, especially for those who have held throughout the corrections. This is because prices are already really low for ADA, and is already in the accumulation zone. As such, a prudent action would be to focus on the long term and wait until the next bull market enters in full swing. Related Reading: Bitcoin Stock To Flow Model Shows Price Is Ready For Next Phase Transition Above $100,000 Santana’s price projection for ADA suggests that while another slight drop could occur, it would likely be followed by a gradual recovery from November 2024 to February 2025, with a more significant bullish phase expected to gain momentum by March 2025. By that point, Santana forecasts a potential return for ADA above $0.70, representing a 130% increase from its current price levels. At the time of writing, ADA is trading at $0.3371, having increased by about 1.25% in the past 24 hours. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin ETFs are recording solid buying, a sign that traders believe to be an indicator that BTC will break through the range highs.
A longtime regular on the crypto scene, Sovryn and BitcoinOS founder Edan Yago learned the importance of financial sovereignty at an early age.
Cardano is set to unveil its first permissionless Layer 2 (L2) solution, positioning itself ahead of other blockchains like Ethereum. The announcement was made during the Cardano Summit 2024 in Argentina, where Philip DiSarro, CEO and founder of Anastasia Labs, detailed the forthcoming launch of Midgard, an optimistic rollup designed to enhance ADA’s scalability and […]
In an analysis published on TradingView, pseudonymous crypto analyst Melika Trader has provided a technical forecast for Cardano (ADA), highlighting a long-term upside scenario with a price target of $1.8. Using chart patterns and key price levels, Melika offers both short and long-term perspectives on ADA’s price movement. Long-Term Cardano Price Outlook Melika identifies a significant support zone for ADA between $0.30 and $0.35. This range has historically shown strong buying interest, characterized by an engulfing candle pattern and previously established supply and demand (S&D) zones. This base formation suggests a robust floor where Cardano has consistently garnered market support. The analyst points out the potential for a bullish reversal, noting that ADA’s price action appears to be forming a bottom within this support zone. “The price seems to form a bottom after engulfing the support region, hinting at a potential bullish reversal,” Melika states. Looking ahead, Melika sets a long-term resistance target between $1.20 and $1.80. This target area is not arbitrary but is based on previous price peaks, making it a significant hurdle for future price action. Should ADA maintain its support base, the path to these higher resistance levels may be realized as buyer confidence rejuvenates, setting the stage for a potential bull run. Related Reading: Cardano’s Pullback Short-Lived, Fresh Rally Underway For ADA? “The next major resistance is in the $1.20-$1.80 zone, marked as a long-term target, which aligns with previous highs. If the current support holds, ADA could be positioned for a sustained rally toward the long-term target, especially as buyers regain confidence,” Melika writes. However, she also cautions investors about a bearish scenario where ADA fails to maintain the $0.30 support level. A breach below this threshold could lead to a decline to levels below $0.18, presenting a substantial risk for holders. “A failure to hold support around $0.30 could see the price retesting to below $0.18,” Melika warns. Related Reading: Cardano Bullish Pattern Suggests A Breakout – Can ADA Reach $0.54? ADA Price Analysis: Short-Term Outlook In the immediate term, ADA is navigating a strong support zone identified between $0.33 and $0.34, aligned with a lower trendline that underscores its importance. “A bounce from this support zone could see ADA targeting the resistance zone at $0.38 – $0.39. The engulfed area suggests a possible reversal signal,” the crypto analyst claims. This resistance zone at $0.39 represents a critical point where previous sellers have previously dominated, making it a pivotal area for ADA’s short-term price action. A successful breach of this resistance could validate the bullish rebound scenario. “The $0.39 zone is a significant resistance where sellers previously controlled the market, making it a critical area to watch for any breakout,” Melika states. Conversely, if ADA fails to sustain its current support, the price could retreat towards the broader long-term support at $0.30, underpinning the downside risks highlighted by Melika. At press time, ADA traded at $0.3437. Featured image from Shutterstock, chart from TradingView.com
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
In a major move towards blockchain innovation and interoperability, Cardano has announced a new partnership with BitcoinOS (BOS), a smart contract operating system for Bitcoin, the world’s first and largest cryptocurrency. The new alliance will be aimed at unlocking Bitcoin’s trillion dollar liquidity for ADA investors and creating new opportunities for cross-chain capabilities for Web3. […]
Bulls aim to knock out Bitcoin’s all-time high before the US elections wrap up. Will altcoins follow?
Reducing network growth and diminishing user engagement are driving Cardano’s prices lower at the end of this week.
Cardano has integrated with the Bitcoin ecosystem through BitcoinOS’s Grail Bridge, unlocking the top digital asset’s substantial liquidity for its DeFi ecosystem. On Oct. 24, BitcoinOS explained that the move would expand Bitcoin’s reach and enable decentralized programmability on its network. The integration makes Cardano the first Layer 1 blockchain to use BitcoinOS infrastructure, tapping […]
The post Cardano unlocks Bitcoin liquidity with BitcoinOS Grail Bridge integration appeared first on CryptoSlate.
EMURGO, a founding entity of Cardano, will be among ecosystem buildings developing tools and services to attract the BTC capital
Tron is now in the top 10 blockchains by market cap, flipping Toncoin and Cardano. While there were initial doubts about the network dying a natural death due to the then “superior” competitor Ethereum in the first few years, the smart contracts platform has surpassed expectations. Tron Energy Demand Doubles In 3 Months At spot rates, is TRX likely to print fresh all-time highs, and the mainnet is also thriving. According to IntoTheBlock, the Tron energy requirements have expanded 100% in the past three months. Related Reading: $200,000 Bitcoin In 2025? $791 Billion Asset Manager Calls It ‘Conservative’ Experts say the rapid increase in Tron energy indicates growing network activity and rapid adoption. Like Ethereum and other modern chains, Tron is energy efficient and relies on validators for transaction processing. However, in Tron’s case, energy is useful when executing smart contracts on the mainnet. As more people deploy meme coins or launch DeFi dapps, the mainnet’s “fuel” demand also increases. Rising resource needs push Tron energy to fresh levels. By how Tron is designed, more energy is needed during periods of high demand to prevent gas fees from spiking in case transactions are congested. That energy has been rising in the past few months is not surprising. Not only does Tron boast of a thriving DeFi ecosystem, but it also has a vibrant meme coin scene. Ecosystem Boom Driven By Meme Coins: TRX Priming For New All-Time Highs? DeFiLlama shows that all Tron DeFi dapps manage over $7 billion of assets. On the other hand, the recent launch of SunPump, a meme coin launchpad in August, has seen over 91,000 meme coins deploy on the network. Looking at Dune, over 1,700 tokens have been listed on Sunswap. Related Reading: Bitcoin Price Retests Bullish Channel At $65,000, Analyst Reveals What’s Next Coincidentally, the spike came with the activation of SunPump in August. As of October 24, SunPump has helped Tron generate over $5.4 million in revenue, looking at Dune data. Others came from smart contract deployments via gaming, DeFi, and other diverse dapps on the platform. TRX is trading at around October 2024 highs at press time, defying gravity. Interestingly, despite the momentum challenges Ethereum faces, TRX, on the other hand, is less than 4% away from all-time highs. If bulls build on October 24 gains, the coin may easily break August highs, printing a new all-time high in Q4 2024. Feature image from DALLE, chart from TradingView
Cardano taps BitcoinOS to integrate Bitcoin liquidity into its DeFi ecosystem using zero-knowledge cryptography for secure cross-chain functionality.
Yoroi Wallet, a leading light wallet for Cardano, has partnered with Bring, a white-label crypto cashback platform. This collaboration aims to bridge the gap between the Cardano community and global retail, allowing users to earn ADA as cashback rewards when shopping with over 775 international retailers. Passive Income For Cardano Holders The upcoming integration will […]
Bitcoin bulls are keen to hit $70,000, but a selloff at this level could trigger a sharp downside in BTC and altcoins.
Charles Hoskinson, the founder of Cardano, has revealed substantial progress in the development and research of new protocols. Via X, Hoskinson stated: “Ouroboros Peras is one of the best prototyped protocols we have—a literate Agda specification, a CIP, simulations, and a working prototype prior to the final paper being published. Already negotiating implementation SoW.” Moreover, […]
Bitcoin’s rise above $66,500 could open the doors for a rally to new highs and altcoins look set to follow.
Bitcoin and altcoins made a strong comeback on Oct. 11, indicating solid buying at lower levels.
Cardano has marked a significant legal milestone in Argentina with the signing of what is described as the first legally and judicially enforceable contract on the ADA blockchain network, fully compliant with Argentine law. On October 8, Cardano ambassador and Interim Constitutional Committee (ICC) member Mauro Andreoli announced via X (formerly Twitter) that he and […]
Despite its recent lacklustre price performance, market experts remain extremely bullish about the Cardano price prospects. Notably, a crypto analyst has forecasted that Cardano, which is currently trading below the $1 mark, is on the brink of a major breakout, with the potential to skyrocket to $5. Expert Sees Cardano Hitting $5 Soon Popular crypto analyst, Dan Gambardello took to X (formerly Twitter) on October 6 to share his bullish projections for Cardano, highlighting past bull cycles and market trends. Gambardello told his 262,900 followers that Cardano could quickly rise above $1 between now and December. Related Reading: Optimism, Aptos, And Taiko Face $169.66 Million In Token Unlocks, Should You Buy Or Sell? In a detailed video outlining the rationale behind his bullish prediction, Gambardello noted that if Cardano can follow the market trends established during the previous bull cycle, its price could easily skyrocket to $1. During the last bull market in 2021, Cardano had been among the top altcoins, experiencing significant gains that propelled its price to new all-time highs. Although it surged to an all-time high of $3.10 in September 2021, Cardano has since plummeted by 88.43% and is currently trading at $0.35. CoinMarketCap’s data also reveals that ADA’s price has fallen by 8.41% over the past week, underscoring the cryptocurrency’s bearish momentum. Despite the sluggish price growth, Gambardello has forecasted that ADA could potentially exceed all time highs to reach $5. The analyst emphasized that Cardano is even more well positioned for a bull rally than last cycle, highlighting positive signs in key metrics such as the altcoin’s Relative Index Strength (RSI) and higher low action. To be more precise, Gamberdello projects that Cardank could reach $1 before the end of 2024, and then soar to new price levels between $5 and $10. The analyst has expressed confidence in this bullish outlook, emphasizing that a $5 price increase was a realistic target. For Cardano to reach new all-time highs of $5, Gambardello has disclosed that the 50-week and 20-week Moving Average (MA) are crucial levels to watch. He stressed that ADA must first break above $0.38, and then move to $0.42 before it can experience a potential breakout to the upside. Related Reading: Here’s Why The Bitcoin Price Could Hit $100,000 Before The End Of The Year Bullish Forecast For Cardano Continues To Grow Sharing a similar sentiment with Gambardello, a popular crypto analyst, identified as ‘Sssebi’ on X has predicted that ADA could potentially skyrocket to $10 by 2025. The analyst notes that the cryptocurrency could experience a sharp breakout to the upside, first surging to $0.5 before hitting the coveted $1 price mark. After this, Sssebi predicts that ADA will rise to $3, surprising the broader cryptocurrency market with its massive growth. He believes that following a potential price surge to $10, investors will begin “FOMOing” hard as they recognize the immense potential of Cardano. Featured image created with Dall.E, chart from Tradingview.com