Connect with us

ADA

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

Published

3 months ago

on


Aug 13, 2024 21:41&nbspUTC

| Updated:

Aug 13, 2024 at 21:41&nbspUTC

By&nbspClark

Cardano (ADA) is set to embrace the Chang hard fork, marking one of its most significant upgrades. Recent developments suggest that the launch may occur sooner than anticipated. This moment is crucial for Cardano and could influence the broader altcoin landscape.

As the blockchain prepares for the Chang hard fork, there’s a tangible buzz about its potential advantages to the altcoin sector, especially for projects like RCO Finance (RCOF).

The Chang Hard Fork: Cardano (ADA) ‘s Leap Towards Decentralization

Though delayed, Cardano’s highly anticipated Chang hard fork signifies a major milestone, emphasizing community governance and decentralization. With over 72% of SPOs ready, this upgrade aims to shift control from the development firm to ADA holders.

The new fork aims to slowly but surely improve Cardano’s scalability and efficiency, hence increasing the value of ADA. This happened with all previous improvements, so now nothing but positive market sentiment is expected. We hope ADA breaks above $0.50 soon.

Impact on the Altcoin Sector

The implications of the Chang hard fork extend beyond Cardano (ADA). As one of the largest altcoins by market cap, Cardano’s improvements could create a ripple effect across the altcoin sector. A successful upgrade may reignite investor interest, leading to increased trading volumes and price growth.

One project likely to gain from this upgrade is RCO Finance (RCOF). Positioned as a promising altcoin, RCOF aims to meet the rising demand for decentralized finance (DeFi) solutions. With Cardano’s improved infrastructure, demand for advanced DeFI systems like RCOF will rise.

The RCO Finance (RCOF) Charm: AI-Powered Trading

With attractive artificial intelligence-powered decentralized finance features, RCO Finance (RCOF) will take advantage of the altcoin surge driven by Cardano’s upgrade. Advanced crypto AI analysis is at the core of this platform, focusing on tailoring users’ investment plans with a real-time market view.

RCO Finance provides a ChatGPT-like robo advisor that utilizes advanced algorithms and machine learning to analyze market trends, offering actionable insights for traders. This technology simplifies complex market analysis, allowing beginners and intermediate traders to approach the market confidently.

The robo advisor excels at accurately identifying market trends, providing real-time forecasts and effective trading strategies. 

Users can harness collective insights to diversify their portfolios based on personal financial goals and risk tolerance. This helps minimize human error and bias, enhances trading outcomes, and saves time.

RCOF’s Deeper Value: Features Beyond the AI

While RCO Finance’s (RCOF) advanced AI-powered trading capabilities are undoubtedly a major draw for investors, the platform offers a range of additional features that add to its long-term appeal and value proposition.

With over 120,000 tradable assets across all asset classes, including stocks, bonds, commodities, and derivatives straddling, RCO Finance makes it easy for traders to diversify their respective investment portfolios. Backed by leverage options of up to 1000x in some trades, traders could multiply their returns.

Beyond trading, RCO Finance supports DeFi lending and borrowing of digital assets through decentralized protocols. This allows users to earn passive income by providing liquidity while accessing borrowing options. Users can conveniently manage their funds with an internationally available debit card at no cost.

For RCOF token holders, transaction fees are reduced by up to 40%, with benefits increasing as the community grows. Token stakers receive quarterly dividends, creating a passive income stream, and the platform also offers exclusive bonuses to encourage engagement within the RCOF ecosystem.

To ensure the security and integrity of the RCOF altcoins, the smart contracts have undergone an independent audit by SolidProof, a global leader in blockchain security.

Invest in the RCOF Presale for Over 20x ROI

The current presale for the RCOF token offers an interesting opportunity for investors looking to engage with the RCO Finance platform.

With the token priced at $0.0343, there’s potential for significant returns if the altcoin market surges. An estimated listing price is projected between $0.4 and $0.6. This could mean a $100 investment might grow to over $2,000 when the token becomes available on exchanges.

Moreover, holding RCOF tokens may provide passive income, access to priority customer support, governance rights, and tiered rewards. With anticipated enhancements to the Cardano network, interest in RCOF tokens could increase, making this presale a noteworthy consideration for those interested in exploring the altcoin space.

For more information about the RCO Finance (RCOF) Presale:

Visit RCO Finance Presale

Join The RCO Finance Community

Clark

Head of the technology.

#Press Release

This is a paid press release. Btcwires does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company.





Source link

Related Topics:
Continue Reading

ADA

Here’s Why Cardano Price Is Far From Overbought After 96% Weekly Surge

Published

2 weeks ago

on

November 10, 2024

By


Most major altcoins witnessed a renewed recovery trend in November amid the U.S. election buzz and Donald Trump’s victory. The pioneer cryptocurrency, Bitcoin, entering price discovery further cemented the bullish narrative in the broader market. Among the top performers, the Cardano price recorded an 83% weekly surge, and still enough room for future growth.

By press time, the ADA price had traded at $0.58, with an intraday gain of 28.5%. According to Coingecko, the asset’s market cap was boosted to $20.58 billion, while 24-hour trading volume was at $2.53 billion. 

Why Cardano Price Rally Isn’t Overbought Despite Massive Gains

In the last six days, the layer-1 cryptocurrency Cardano recorded an upright recovery from $0.326 to $0.58— an 83% price increase. An analysis of the daily chart showed this recovery with the increasing size of green candles and trading volume, indicating a sustained uptrend.

The strong momentum may be attributed to several factors, with the first being the potential impact of the 2024 U.S. election and Donald Trump becoming the 47th president. Additionally, Cardano’s recent partnership with BitcoinOS has enabled it to access $1.3 trillion in Bitcoin liquidity, significantly enhancing its decentralized finance (DeFi) ecosystem.

As per tradingview chart, the ADA price also breaches a key downsloping resistance of a triangle pattern. This breakout signals the buyers’ escape from a six-month consolidation, offering suitable support to drive a higher rally.

However, today’s surge in Cardano price is likely triggered by founder Charles Hoskinson’s plans to work with the U.S. government under Donald Trump on cryptocurrency legislation.

The aforementioned reasons provide a major boost for Cardano’s adoption and demand for its native cryptocurrency, positioning for further gains.

Cardano PriceCardano Price
ADA/USDT -1d Chart

Large Holders Bet Big on ADA as Market Bottom Signals Emerge

According to Santiment data, the ADA whale holding 100 Million 1 Billion coins has significantly increased their accumulation from 2.06 to 2.93 since mid-April. Despite the prevailing downtrend, the large holders’ buying indicates their confidence in Cardano’s further growth.

Generally, this signal coincides with major market bottoms and reverses trends.

On the contrary, the recent surge in Cardano price is fueled by the aforementioned factors one after another. Thus, a rally of the same momentum is less likely to continue without more external factors.

Cardano (ADA)Cardano (ADA)
Supply Distribution| Santiment

Moreover, a sharp price increase is often followed by a short corrective phase for buyers to regain strength. If this happens, the ADA price could revert lower to seek support at key daily EMAs (20, 50, 100, and 200).

Frequently Asked Questions (FAQs)

Cardano’s price shows room for growth due to factors like a bullish pattern breakout, whale accumulation, key partnerships, and plans to collaborate with the U.S. government on crypto legislation

Following the breakout from a six-month downsloping triangle, Cardano’s price targets $0.8 as the next level

Larger holders accumulation reflects their confidence in Cardano’s long-term potential and often aligns with market bottom signals.

✓ Share:

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

ADA

Will Cardano Price Hit $0.5 In November?

Published

3 weeks ago

on

November 4, 2024

By


The Cardano price plunged 4.8% during the Sunday trading session to $0.33. The bearish downturn likely followed the Bitcoin price drop below $68,000 as the crypto market witnessed a surge in selling pressure ahead of the U.S. presidential election. Will the correction extend the ADA buyer coil counterattack for the surge to $0.5 in November?

Will Cardano Price Reach $1.05 This November? 

The cryptocurrency market is experiencing a renewed bullish momentum ahead of the U.S. presidential election in 2024. The Cardano price managed to leverage this broader market sentiment to shift its prevailing downtrend to sideways.

Since mid-June, the Cardano price has been resonating strictly between two converging trendlines, indicating the formation of a symmetrical triangle pattern. Theoretically, this pattern guides a temporary consolidation between a dimension, dynamic support, and resistance to republish the prevailing trend.

If the market corrections prolong, the ADA price could plunge another 2.8% to seek support at an ascending trendline intact since June 2023. Historical data shows the Cardano price reversal from this support has led to a recovery ranging from 35% to 250%. Thus, the ADA price could strengthen its grip over the asset at the bottom support and attempt a bullish breakout from the key resistance of current correctional at $0.37.

Crypto buyers need to achieve this breakout by mid-November if they aim to reach the $0.5 target by month’s end.

BINANCE:ADAUSDT Chart Image by sahilmahadik07BINANCE:ADAUSDT Chart Image by sahilmahadik07

Whale Accumulation and MVRV Data Hint at Cardano Price Recovery

According to santiment data, the 30-day market cap to realized cap ratio (MVRV) has recently plunged to a -6.37% mark. The MVRV ratio compares an asset’s market capitalization to its realized capitalization and helps determine whether the asset is overvalued or undervalued. 

Historically, the MVRV breakdown below -6% has formed local market bottoms. Generally, the negative value indicates a loss-making short-term trader could capitulate if the correction trend extends. Exit from these speculative traders often attracts long-term business and drives sustained recovery.

Cardano (ADA)Cardano (ADA)
30-day MVRV Ratio | santiment

Moreover, ADA buyers with wallets holding 100 million to 1 billion coins have drastically increased their accumulation from 2.06 billion to 2.95 billion over the last four months. This significant accumulation trend implies growing confidence among major investors in Cardano’s long-term potential.

Cardano (ADA)Cardano (ADA)
Supply Distribution | Santiment

Historically, such accumulation by large holders, or “whales,” is often a precursor to a price uptrend, as it indicates strategic buying and reduced sell pressure.  However, if the selling pressure at the overhead trendline persists, the Cardano price may extend the sideways action.

Frequently Asked Questions (FAQs)

This trend signals growing confidence among major investors and typically precedes a price uptrend due to strategic buying and reduced sell pressure

Cardano’s price could hit $0.5 if it successfully breaks out of the symmetrical triangle pattern by mid-November

A retest of the multi-month ascending support trendline intact since June 2023 could trigger a bullish breakout

✓ Share:

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

ADA

Cardano Price Mirrors 2020 Rally, Will ADA Hit $6?

Published

3 weeks ago

on

November 2, 2024

By


The crypto market is gradually gaining momentum for a Q4 rally as Bitcoin entered the $70,000 region. Amid the renewed bullish sentiment, the Cardano price shows the potential for a massive surge as it mirrors the formation of a 2020 rally.

By press time, the ADA price had traded at $0.35, with an intraday loss of 1.87%. According to Coingecko data, Cardano’s market cap holds at $12.38 Billion with a 24-hour trading volume of $336.4 Million.

Cardano Price Action Reflects 2020 Rally, Can ADA Hit $6?

The layer-1 cryptocurrency Cardano has shifted its prevailing correction trend sideways above the $0.034 price level. This consolidation in the weekly chart shows a local bottom formation around 30% higher than the previous low of $0.024.

A closer look at ADA’s current trajectory reveals intriguing similarities to 2020-style price formation, which triggered a rally to $3.1 All-time-high. The historical data shows that the Cardano price prediction drives a major accumulation phase for buyers to onboard and for a stable bottom.

The historical data shows that the Cardano price drives a major accumulation phase for buyers to onboard, recuperating the bullish momentum. The crypto market today shows the ADA price is forming to second before kick-starting its actual rally.

The upcoming U.S. election is likely to influence the momentum of the potential rally if a crypto-friendly candidate is elected. If history repeats, the Cardano price could surge by over 1600% to hit the psychological level of $6.

Cardano PriceCardano Price
ADA/USDT -1d Chart

Whale Accumulation Signals Potential ADA Price Reversal

The supply distribution data from Santiment shows the largeholders’ preparation for ADA coin reversal with major accumulation trends. From mid-April 2022, whale wallets containing between 100 million and 1 billion ADA have collectively boosted their accumulation from 2 billion to 2.94 billion ADA.

This substantial accumulation by major investors suggests a strong belief in ADA’s potential for price appreciation. Such behavior often indicates that these large holders anticipate a market reversal or a bullish trend in the near future.

Cardano (ADA) Cardano (ADA)
ADA Supply Distribution | Santiment

On a contrary note, if ADA sellers continue to defend the $0.42 barrier, the price reaction could extend its sideways action and delay a bullish breakout.

Frequently Asked Questions (FAQs)

Cardano’s current price action is showing strong similarities to its 2020 trajectory, which led to a significant rally and an all-time high of $3.1.

The upcoming U.S. election could influence the momentum of a potential rally, particularly if a crypto-friendly candidate is elected.

This substantial accumulation suggests strong confidence in ADA’s potential for a price reversal or upward trend.

✓ Share:

Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon