gm! We at Kleoverse launched Proof-of-Talent protocol today. I think it could be relevant for many people here! With Proof-of-Talent, you can: ⛓ Store achievements like open-source contributions on-chain 📈 Showcase your expertise with skill scores 🏅 Mint SBT-based badges for your skills and achievements 📝 Build a portfolio designed for web3 builders…
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Cardano (ADA), over the last seven days, managed to grow by 16% as it rallied together with majority of its fellow altcoins during this week’s bullish run. At press time, according to tracking from Coingecko, the digital asset is trading at $0.405. It increased its value by 6.4% for the past two weeks and has trimmed its 30-day losses to 9.2%. Moreover, the digital currency managed to pump its overall valuation by over $1 billion as it now sits on a total market cap of $14.185 billion, ranking as 8th largest cryptocurrency in that department. Last October 25, Cardano’s market capitalization was only at $12.35 billion. Indeed, ADA is benefiting from this positive rally. As to until when this trend will continue, it’s still anyone’s guess. Related Reading: Hedera: A Quick Evaluation Of The Network – And How HBAR Performed This Week Is It Good to Buy ADA Now? Bearish signal indicators narrowly outnumbered bullish ones, 17 to 16. Still, with this development, sentiment towards the asset is favoring the bears. A deep dive at Cardano oscillators reveals a neutral score of 8. One was pointing towards the “buy” direction while two were headed to “sell” zone. However, by law of moving averages (AM), the crypto managed to stay on the “buy” range, hinting that this might be a good time to start accumulating the altcoin. After all, there are a number of positive developments that might favor those who are in possession of the digital currency. For starters, the Cardano network recently implemented wallet upgrades on its system and the number of smart contracts running on its blockchain significantly increased over the last few days. With this, the ADA community is confident that it might trade at $0.51 by the end of next month. What’s Ahead For Cardano Investors and traders, however, are cautioned as the cryptocurrency remains susceptible to high levels of volatility that the crypto space is known for. In fact, while the Cardano community is confident of a higher trading price next month, predictions from Coincodex say otherwise. Over the next five days, the crypto is seen to decline by almost 7% to trade at $0.382. With this, it might immediately obliterate its gains over the last couple of days. The online crypto tracker and data provider’s 30-day forecast is more worrying, as ADA might end up plummeting all the way to $0.214. Related Reading: Stellar (XLM) Could Grow Dim This Week, But Buyers Don’t Need To Back Down ADA total market cap at $1.3 billion on the daily chart | Featured image from Coinpedia, Chart: TradingView.com Disclaimer: The analysis is based on the author’s personal knowledge and should not be construed as investment advice.
Disney’s CEO said the company doesn’t tend to use the word metaverse, as it believes it’s a very broad term.
Oasys, a Web3, EVM-compatible, gamefi-focused blockchain project, launched the first phase of its mainnet on October 25th. The company, which has gathered support from AAA gaming companies such as Sega, Ubisoft, and Bandai Namco, will start validating blocks from all nodes in preparation for its definitive activation slated to happen on November 8th. Oasys Launches […]
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October has been a historically bullish month for Bitcoin but with the slow start to the month which proceeded into the last week of the month, it is understandable why a deviation from the norm was expected. However, this sentiment was quickly erased as the crypto market had taken a positive turn on Tuesday. By the close of the trading day on Wednesday, BTC’s price had surpassed $20,000. But what does the rejection at $21,000 say? Bitcoin Fails To Beat $21,000 Even with the momentum of the past two days, bitcoin had met a harsh rejection at the $21,000 level. Bears had quickly mounted resistance at this point and the shorts in the market in anticipation of a downward correction had helped to fuel this resistance. So now, even if the outlook for bitcoin remains very bullish, $21,000 is currently the point to beat, which would be easy pickings in a bull given the recent rally. However, the crypto market has stunted the growth of digital assets, and investors remain very wary despite the market gains. Related Reading: Bitcoin’s Break Above $20,000 Sees Market Liquidations Cross $1 Billion The next step would be for bulls to strengthen support at $20,500 in anticipation of the next retest. Because if bitcoin faces such a strong rejection at $21,000 once more, bears will likely try to pull the price back down to $20,000. At this point, the next support level lies just below $20,200, which is not as strong as the support at $20,500. BTC holding support at $20,500 | Source: BTCUSD on TradingView.com What’s Next For BTC? The rejection at $21,000 has not phased the market much given the euphoria of the digital asset finally beating $20,000 once more. Instead, the bulls have now come out of the woodwork and optimistic forecasts are flying around. Jim Messina, ex-US President Obama’s Chief of Staff has been one of the most bullish during this time. Messina appeared on Fox News where he said that he expects the digital asset to actually reclaim the $60,000, saying he would bet his Porsche on it. It follows bullish forecasts from others in the space such as ARK Invest’s Cathie Wood who put the digital asset at a price of $1 million apiece in the next 8 years. Related Reading: Dormant Ethereum Whale Rouses As Crypto Market Sees A Revival However, it is important to note that bitcoin’s trading volume is on the decline in the last 24 hours, which could suggest a quick burn-off of the recent spark. Such declines in momentum can be detrimental especially in periods of short-term growth as has been recorded. The next possible point for bitcoin would be to try to break above $21,000 once move. But if this does not happen, it is possible to see the digital asset below $20,000 once more. On a more positive note, the sell-offs in BTC have receded in the last two days. Bitcoin’s move above its 50-day moving average has turned indicators for the short-term green and there is now mounting buy pressure that is expected to continue into the weekend. Featured image from MARCA, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
PRESS RELEASE. Leading global cryptocurrency exchange, Bitget announces that it has entered into a partnership with Lionel Andrés Messi, the iconic Argentine footballer and winner of a record-breaking seven Ballon d’Or awards. The announcement kicks off the engagement between Bitget and Messi and signals the meeting of sports and crypto, a promise of lasting efforts […]
PRESS RELEASE. Leading global cryptocurrency exchange, Bitget announces that it has entered into a partnership with Lionel Andrés Messi, the iconic Argentine footballer and winner of a record-breaking seven Ballon d’Or awards. The announcement kicks off the engagement between Bitget and Messi and signals the meeting of sports and crypto, a promise of lasting efforts […]
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Hong Kong is pivoting toward a friendlier regulatory regime for cryptocurrencies with a plan to legalize retail trading, contrasting with the city’s skeptical stance of recent years and the ban in place in mainland China. A planned mandatory licensing program for crypto platforms set to be enforced in March next year will allow retail trading,…
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