Kirobo is a decentralized application developer building out a suite of services focused on DeFi security and usability. With a $5 million investment from Digimax in 2021, Kirobo works to make decentralized finance as accessible and user-friendly as regular online banking. Kirobo is the proud recipient of two grants from the Israeli Innovation Authority—the only […]
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President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted. Miners in Kazakhstan to Pay Higher Electricity Tariffs On top of electricity shortages […]
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Binance, the world’s biggest cryptocurrency exchange, is making a $200 million strategic investment in Forbes, the 104-year old magazine and digital publisher, CNBC has learned. The funds will help Forbes execute on its plan to merge with a publicly-traded special purpose acquisition company, or SPAC, in the first quarter, according to people with knowledge of…
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“Media is an essential element to build widespread consumer understanding and education,” Binance CEO CZ said.
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As the Crypto Open Patent Alliance continues to onboard a growing list of high-profile clients, some experts believe the organization can truly transform the industry.
Cardano (ADA) appears to be bullish. However, the uptrend seems to experience a limitation as there are possibilities of several obstructions in its way. Thus, traders need to be cautious around the ADA coin and its forthcoming rally. What is Cardano? Cardano is a PoS (Proof of Stake) blockchain that is open-source and distributed. Cardano implements peer-to-peer transactions using its native token, ADA. The crypto project was developed in 2015 and released in 2017 by the former Co-Founder of Ethereum, Charles Hoskinson. Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys Also, Cardano is popularly known as the “Ethereum Killer” as it attempts to solve issues related to the Ethereum blockchain. ADA provides a versatile, sustainable, and scalable network for deploying smart contracts. Using Cardano, you can develop and deploy an extensive array of dApps (decentralized applications), crypto coins, games, and other projects. Cardano Price Continuously Appreciates ADA price experienced a 45% downtrend between the 20th and 22nd of January, a similar experience to Bitcoin. Even though ADA dipped beneath the $1 psychological level, it didn’t create any candlestick lower than that. However, it quickly regained from this level. The ADA token leaped by 20% from its bottom price and signals that this uptrend will be consistent. Although this uptrend is worth considering, the coin will encounter several obstructions in its way. On the contrary, this upswing appears to be limited near the $1.22 level, and this is because of the 50-day SMA (Simple Moving Average). IntoTheBlock’s Global In/Out Model The transaction data gotten from the GIOM (Global In/Out of the Money) model reinforces this capping thesis for ADA’s price. The Global In/Out of the Money model, an on-the-chain trading index, displayed that about 484,540 addresses bought circa 6.2 billion ADA coins at the regular price of $1.26, and they were “Out of the Money” transactions. Thus, any day-trading purchasing pressure that rallies Cardano (ADA) into this region will encounter an enormous bearish pressure. Also projecting that this upswing will be short-spanned is decreased number of new coin addresses entering Cardano’s mainnet from 73,780 to about 63,310 within the past month. It’s worthy to note that this 14% decrease signifies that ADA traders are less interested in the coin’s prices at its present levels. Related Reading | Is Largely Unbanked Africa Primed for Bitcoin Adoption? Notwithstanding the buying pressure Cardano (ADA) faces, any denial at both levels can cause the altcoin to trade as low as $1. Image from Coingape, charts from IntoTheBlock and TradingView.com
