3 reasons why Cardano can sink further despite ADA price bouncing 58%
A mix of fundamental and technical indicators suggests more pain for Cardano bulls ahead. Cardano (ADA) pared a big portion of the weekly losses incurred during this week's crypto market rout. ADA's price reached an intraday high of $0.60 on May 13, a day after rebounding from its week-to-date low of $0.38 — a 58% rally. The huge upside retracement appeared in the wake of similar price action in the crypto market with top cryptos Bitcoin (BTC) and Ether (ETH) rebounding by 23% and 25.75% since yesterday's lows.The top ten crypto assets' recovery in the past 24 hours. Source: MessariBut the....
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Cardano-based accelerator program Genius X continues to attract ADA delegators after the launch of its ISPO. Cardano-based accelerator program Genius X has seen more than $105 million worth of ADA delegated to its initial stake pool offering (ISPO).This comes after the firm’s decentralized automated market maker and liquidity management protocol Genius Yield completed its ISPO on May 10, with over 14,500 delegators staking 270 million ADA across four official stake pools, making it one of the biggest ISPOs within the Cardano ecosystem.Genius Yield is a Cardano-based DeFi protocol that....
Cardano (ADA) recently fell below its support line of $0.50 as seen at press time. Just like Bitcoin, major altcoins too have either consolidated or fallen on their charts. On the longer time frame, Cardano (ADA) continued to display bearish thesis. For the shorter time frame, ADA was hinting at a possible price reversal on charts. Over the last 24 hours, ADA increased by 1.7% and in the last week, the coin brought home a double digit loss. The bulls have faded out as buying strength continued to remain bleak at the time of writing. At the moment, $0.50 has been acting as the coin’s....
The Cardano ecosystem is one of the most versatile networks in crypto and blockchain. Moreover, its technology provides numerous benefits to both developers and users. Hundreds of projects are in development for the network, enhancing its overall appeal and value. Why Cardano Gains Momentum In the cryptocurrency and blockchain world, most people focus on Bitcoin […]
I was able to get a sample of the new OneString modular miner. The specs are very good especially when you take power consumption into account. Here are the official specs posted by Ben Turas on BitcoinTalk, whom I interviewed for this review. OneStringMiner board: The OneString Miner boards are designed by Intron and C-scape, two well-known Bitcoin mining board designers. The OSM is based on Bitfury chips, and each board contains 15 chips, hashing 25+ GH/s without heat sink and 30+ GH/s with heat sink. Each board runs from a single 12V supply, using ~25W. The models: The OSM DIY sets,....
At the start of the year, Cardano’s market cap was hovering around $5.6bn. However, in five weeks, a flood of bullish sentiment has propelled this figure to $28.4bn. This was enough to leapfrog the likes of XRP and Polkadot to take the fourth spot on CoinMarketCap. Likewise, over this period, the price of ADA is […]