Category: Cryptocurrency News

What goes up must come down. And then go up again. Then come down again. And on and on and on…

Cardano (ADA) has been following the general sentiment in the market. The fifth cryptocurrency in terms of market capitalization has been trending to the downside but at a slower pace than larger cryptocurrencies. Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes At the time of writing, Cardano (ADA) trades at $0.48 with a 6% and 14% loss in the 24-hour and 7-day chart, respectively. The second crypto by market cap Ethereum (ETH) records a 30% loss over the same period, Binance Coin (BNB) a 24%, Solana (SOL) a 24% loss, and XRP an 18% loss in the past 7-days. Cardano’s developer Input Output Global (IOG) recently announced two products that could contribute to ADA’s price short-term strength. The company revealed a new wallet called Lace, and the deployment of a new Ethereum Virtual Machine (EVM). Lace is aimed at being Cardano’s new light wallet and to help it gain more adoption. The wallet will provide users with “enhanced capability and ease of use”. IOG said: IOG is developing Lace ‒ a ‘one-stop-shop’ for all blockchain operations. This new platform will be feature-packed, yet lightweight, streamlining online finance. Acting as a portal to Web3.0, Lace will encompass elements of true decentralization. On the other hand, the EVM was deployed on one of Cardano’s testnet. This tool will enable developers to build or migrate their solidity-based applications. Sebastian Guillemot, CTO at infrastructure builder dcSpark, believes the EVM on Cardano will allow the ecosystem to become a Cosmos or Polkadot-like blockchain. This could enable products to launch independently from the Cardano mainnet and develop their own dynamics. In the future, this could promote growth across this ecosystem. Cardano (ADA) With Increase Selling Pressure, Here Is The Critical Support The promise of growth in the Cardano ecosystem has been one of its key fundamentals. The blockchain recently deployed its smart contracts capabilities but has yet to see it come to full fruition. Data from Material Indicators (MI) records an increase in selling pressure from investors with asks orders above $10,000 (in red on the chart below). In the meantime, whales (purple and brown on the chart below) have remained neutral, at least, for a short timeframe. Related Reading | Rich Dad, Poor Dad Author Changes His Mind About Bitcoin? BTC Crashes To $23K Below its current levels, there are over $1,5 million in bids orders, as MI shows. These orders should operate as critical support in case of further downside.

On Monday, the cryptocurrency lending company Blockfi announced that “market conditions” have had a “negative impact” on the firm’s business and it will be laying off “roughly 20%” of its staff. The message written by Blockfi co-founders Zac Prince and Flori Marquez follows a slew of well known crypto firms cutting back employees due to […]

I know know one knows when the bottom is or what’s gonna happen but I feel like I should keep buying and hope for the best in the long run or go down w the ship. But do we think this is the bottom? Prob not. submitted by /u/pbDudley [link] [comments]

The E-Stablecoin would require several scientific advancements that are already in the works, and would allegedly make it possible to transmit electricity almost for free.

The seven filings also suggested ASU could be exploring the use of nonfungible tokens to authenticate many documents from diplomas to tickets for university events.

Another wave of selling hit BTC and sent its price to lows not seen since December 2020. Does on-chain data suggest this dip is worth buying?

I feel really embarrassed asking this, but I need an answer so I don't blow all of my money at the table. So I buy Crypto and I feel as if I'm not making any money and being really dumb in the process (no jokes about how buying crypto is inherently dumb). I feel as…
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The crypto market is in turmoil as Bitcoin, Ethereum, and other larger cryptocurrencies return to levels last seen in 2020. The number one crypto by market cap lost critical support and descended to the lower area of its current levels. Related Reading | Bitcoin Long-Term Holders Realize March 2020-Like Losses As BTC Crashes At the time of writing, Bitcoin trades at $23,300 with a 16% and 22% losses in the last 24-hours and 7-days, respectively. As the macro-economic outlook seems bleak, with an increase in inflation and U.S. Federal Reserve (FED) set at stopping it, conditions seem to favor the bears. As a result of the recent downside price action, some Bitcoin supporters have flipped and turned their attention to different assets. Robert Kiyosaki, the best-selling author of the financial book “Rich Dad, Poor Dad”, could be counted in this group. Kiyosaki has been a long-term Bitcoin supporter. In 2021, he recommended his audience buy Bitcoin to hedge against a potential economic recession. At the time, the author claimed that a “giant crash” and a “new depression” could hit the U.S. economy. The rise in U.S. dollar inflation, along with an increase in interest rates from the U.S. Federal Reserve (FED), hint at economic hurdles. But Kiyosaki might not have stuck to his own advice, he posted the following via his personal Twitter account: Best INVESTMENT:  Cans of Tuna Fish. Inflation about to take off.  Best investments are cans of tuna & baked beans. You can’t eat gold, silver, or Bitcoin. You can eat cans of tuna and baked beans. Food most important. Starvation next problem. Invest in the solution. Take care. Some people replied believed Kiyosaki might have been joking. Others seem to have taken the advice to heart as they believe the global economy is about to enter a dark time. Bitcoin Levels Of Support And Resistance However, Kiyosaki already predicted a crash that could lead to an economic depression. Back in 2021, he said: BIDEEN & FED need inflation to prevent New Depression. Inflation rips off the poor. Inflation makes rich richer. Biden and Fed corrupt. Prepare: Giant crash then new depression. Be smart Buy, gold, silver, Bitcoin. The fundamentals that prompted Kiyosaki to trust BTC as a good investment seem to be valid: the cryptocurrency is a way to opt out of the FED-controlled economy and gain more financial freedom. Related Reading | Bitcoin Weekly RSI Sets Record For Most Oversold In History, What Comes Next? At the time of writing, Bitcoin’s order book on Binance looks thin in either direction. There are $7 million in bids around $22,000 and $11 million in asks orders at $26,500. A break below or above either could determine BTC’s price next trend.