Category: Cryptocurrency News

The National Bank’s latest project again shows the advantages of programmable central bank digital currency.

COIN shares have dropped in after-hours trading as the crypto exchange missed earnings estimates, blaming “softer market conditions.”

Visa and Coinbase’s new partnership promises instant, round-the-clock funding for crypto trading, allowing U.S. and EU users real-time access to trading opportunities. Coinbase and Visa Join Forces to Break Crypto Funding Barriers Payment giant Visa has joined forces with crypto exchange Coinbase to offer real-time account funding for Coinbase users in the U.S. and EU […]

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According to Paradigm, 20% of individuals surveyed indicated that they currently hold or have previously purchased crypto.

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

The bulk of Reddit’s cryptocurrency sales came from Bitcoin and Ether holdings, with the company reporting that gains from transactions were insignificant.