Traders are hopeful that Bitcoin’s bounce from $29,000 to $40,000 and the strong rally seen in altcoins is a signal that the bull market has resumed.
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.
Data from Delphi Digital shows holding BTC and ETH was more profitable than investing in weighted average market cap crypto and DeFi index funds.33272
Bitcoin and most major altcoins are meeting resistance at higher levels but the bearish sentiment of the last two months seems to be reducing.12115
The strong recovery in Bitcoin and altcoins shows there is aggressive buying at lower levels but bears are unlikely to give up without a fight.26433
Analysts and traders prepare for the worst after Bitcoin price broke below $31,000 and triggered a sell-off in major altcoins.29059
The Alonzo White testnet brings NFTs and various De-Fi use cases one step closer for Cardano.29151
Bitcoin bulls defended the $31,000 level again, but data shows demand for BTC and altcoins is weak and this heightens the chase of further downside.31653
Bitcoin and most major altcoins are bouncing off strong support levels, indicating possible accumulation by the bulls.22414
Bitcoin price is drifting lower, pulling altcoins to critical support levels and testing the resolve of traders who were looking for a bullish reversal.35373
Technical indicators and Bitcoin’s tightening price range suggest that a sharp, trend-changing breakout in BTC and altcoins is brewing.48005
Altcoin prices are moving higher as Bitcoin price holds a pattern of daily higher lows, a sign that the downtrend could be coming to an end.22990
Altcoins continue to move higher as Bitcoin trades in a predictable range but it’s still too early to know if the market is flashing any strong buy signals.17411
Bitcoin, the so-called king of cryptocurrencies, has seen its popularity decline among U.S.-based eToro users over the past 12 months. Despite more volatility, altcoins are growing in popularity.9430
Holding on to cryptocurrencies can be difficult at the best of times, but this trading platform is offering a solution that may make things easier.987
Cardano launched its first Alonzo smart contract testnet on May 27. On June 11, IOHK confirmed that Alonzo is now able to deploy smart contracts.34572