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The latest weekly digital asset fund flows from CoinShares shed light on the ongoing dynamics among institutional investors when investing in altcoins such as XRP, Solana, and Cardano.
In a notable development, Cardano (ADA) has reentered the top 10 cryptocurrencies by market capitalization, driven by a notable 12% price surge over the past week.
After months of consolidating below the $1 mark, an analyst has observed that Cardano (ADA) could be primed for a potential parabolic rally based on the token's technical setup.
As the Bitcoin price stabilizes above the $63,000 level, the altcoins have picked up pace by adding significant valuation to their respective portfolios. Moreover, major altcoins such as ADA have experienced a similar action by breaking out of their major psychological levels.
Bitcoin remained steady above $63,000 on Tuesday, showing resilience after a brief rejection above $64,000. Despite minor fluctuations in the broader cryptocurrency market, Bitcoin held firm, while altcoins like Cardano and NEAR Protocol surged, leading gains by up to 7%. In the past 24 hours, Bitcoin dipped slightly by 0.2%, trading around $63,400.
For many years, Cardano (ADA) and Ripple (XRP) have been two of the most anticipated altcoin assets in the cryptocurrency arena. Cardano has been performing the worst, now trading at $0.35 down from the peak that was more than $1 earlier on, indicating a decrease of 130.58% for the last five months.
Cardano (ADA) is in the spotlight as one of the few top altcoins with residual gains at a time when many digital currencies are shedding their gains. Over the past 24 hours, Cardano has rallied by 5.19% to $0.3705.
ADA is trading at $0.3698, marking a 1.65% increase. ADA is steadily climbing after finding strong support at $0.3120 earlier this month.
Cardano (ADA) has seen a 10% price uptick over the past week. The 11th crypto asset by market capitalization is poised to extend these gains by another 10%, but only if current buying pressure holds.
Cardano struggles with declining holdings, but positive funding rates offer hope.
Cardano (ADA) has captured significant attention in the cryptocurrency market, particularly for its ambitious goals of scalability, security, and sustainability. With a current price hovering around $0.3487 and a market cap of over $12 billion, many investors are keen to know whether ADA can rebound to previous highs and whether it will reach the much-anticipated $1 mark by 2024.
On the sidelines of the TOKEN2049 conference in Singapore, Charles Hoskinson, co-founder of Ethereum and Cardano, shared his thoughts in an interview with CNBC about the differing crypto stances of Donald Trump and Kamala Harris.
Helix Labs, a blockchain-focused startup, has raised $2 million in a pre-seed funding round, bringing its valuation to $40 million. The funding was led by Tribe Capital, EMURGO Ventures, Taureon Capital, LD Capital, and Double Peak Group as per a company press release.
Since March, Cardano (ADA) has experienced recurring periods of significant price declines. However, crypto pundit Dan Gambardello, a popular analyst on the Crypto Capital Venture's YouTube channel, predicts a potential bullish reversal based on an analysis of the weekly and daily charts.
Bitcoin bears are defending the $65,000 resistance, but if it gives way, BTC and altcoins are likely to chase new all-time highs.
According to the recent CoinShares report, last week, institutional investors increased their bet on XRP, while withdrawing funds from ADA and the second largest cryptocurrency, Ethereum. The report was shared on the X platform by Chinese cryptocurrency blogger and journalist Colin Wu on his personal page.
Helix Labs has raised $2 million in a pre-seed funding round, valuing the company at $40 million.
Cardano price has been a focal point in the crypto market lately, with investors monitoring its price movements for potential breakouts. Every blockchain aims to grow, and Cardano is pushing in the right direction by embracing interoperability between itself and the Bitcoin network.
Every blockchain protocol, including Cardano (ADA), aims to grow, and in doing so, there is a huge need to interoperate with chains with huge liquidity. This is the case with Cardano, as a new bridge helps it connect to the Bitcoin network.
Charles Hoskinson, the co-founder of Cardano and Ethereum, recently expressed deep concerns regarding the potential impact of Donald Trump's newfound affinity for cryptocurrency. In a series of interviews with mainstream media, Hoskinson emphasized that both Trump and Vice President Kamala Harris lack a coherent vision for the future of crypto regulation in the United States, which could have serious implications for the industry.
The past few months have been particularly tough for Cardano. After undergoing a significant upgrade that resulted in over 96 million transactions—a remarkable achievement for its ecosystem—ADA's price failed to reflect this progress.
Cardano's TPS currently stands at 0.41, an analyst remarked that nobody is using ADA technology.
In the race to dominate the Layer-1 blockchain space, Bitgert, Ethereum, and Cardano have emerged as key players, each bringing unique strengths and innovations. While Ethereum remains the industry leader with its extensive dApp ecosystem and robust intelligent contract capabilities, it faces growing competition due to scalability challenges and high gas fees. On the other hand, Cardano continues to build on its reputation for security and academic rigor, offering a more research-driven approach to blockchain development.
ADA shows strong sentiment, with technicals and liquidity favoring a breakout.
