Altcoins have entered a slight correction after Bitcoin's relief rally lost steam and the price dropped below $35,000.
Cardano is a blockchain-based smart contract platform that aims to compete against similar platforms such as Ethereum, Tezos, and EOS, among others, through a more modular, layered protocol that runs on a proof-of-stake consensus algorithm called Ouroboros.
Identifying itself as a third-generation blockchain and cryptocurrency system following Bitcoin and Ethereum, Cardano’s development is quite different from its competitors in that it is heavily informed by theoretical, peer-reviewed research before implementation in software.
Its native cryptocurrency, ADA, is named after Ada Lovelace, a 19th-century writer and mathematician who has been referred to as the world’s first computer programmer.
Cardano’s development is backed by three companies: IOHK, a blockchain R&D company founded by Charles Hoskinson and Jeremy Wood; the Cardano Foundation, a nonprofit dedicated to Cardano adoption and development; and Emurgo, a venture capital firm based in Japan.
Cardano founder Charles Hoskinson predicts that the DeFi revolution will take place in the developing world.16173
Traders are shifting funds into select altcoins as Bitcoin price trades in a sideways range.40487
Bitcoin’s sharp correction may not have broken its uptrend, but several altcoins have signaled that a short-term top could be in place.36949
Altcoins rallied strongly over the past week, but Bitcoin’s current consolidation could be a sign that the trend may reverse soon.44936
Traders are buying every dip and pushing Bitcoin price to new highs on a daily basis, triggering many altcoins to follow suit.64906
In the past week, Cardano price surged by more than 100% and overtook Bitcoin Cash to become the sixth-largest cryptocurrency.36848
Bitcoin's slow crawl toward $36,000 has given select altcoins the green light to rally higher.58761
After today’s sharp downside move, Bitcoin and altcoins could trade in a sideways range as bulls and bears fight to control the market’s momentum.51229
Altcoins could also see a strong buying interest and may run up vertically if Bitcoin rallies above $30,000.70078
Bitcoin price continues to chase after $30,000 but continued rejections below the key level are negatively impacting altcoin prices.52893
Bitcoin is taking a breather after the recent rally while altcoins are attempting to play catch up.39948
The SEC’s lawsuit against Ripple may be bearish for a few altcoins but could be bullish for Bitcoin.49006
Even with today's correction, Bitcoin is still in an uptrend, but most major altcoins have lost momentum and may remain range-bound for the next few days.31742
Large-cap altcoins are attempting to rally higher but first bulls need to flip $24,000 to support.26531