Although there are many coins in the crypto coin industry, the good ones are mostly those who constantly announce their names. A year ago, Cardano was launched in Tokyo. Since then, ADA, Cardano’s crypto currency, has been one of the world’s top 10 crypto currencies.
Since October 1st, ADA trading has been made. One of the founders of the ADA was Charles Hoskinson, he is also one of the founders of Ethereum. He left the Ethereum (ETH) after the DAO hacking incident.
Although ADA has been traded for a year, many of Cardano’s functions are not working yet. Therefore, Cardano can run Smart Contracts, but so far this is only possible in the test network.
There is a lot of research around technologies, so Cardano works in many universities. Cardano is often referred to as a scientific research project. Unlike Bitcoin and Ethereum, Cardano is not based on the proof-of-work algorithm, because the others requires energy-intensive mining. Instead, Cardano relies on Proof-of-Stake, a system to which Ethereum also wants to switch.
Since the founding of Cardano, more than 150 people have been working on the project. It has been also long listed on many of the leading market platforms such as ADA, Binance, Bittrex, eToro and BitMEX.
Therefore, anyone who wants to trade with ADA has the opportunity to do so on these platforms. From the outside, the development of Cardano is progressing very slowly.
Cardano is on the top 10 without a serious product, but when the assumed potential becomes a real value, those who remain patient with this coin will certainly be rewarded.
While the highest level of all time is above US $1, it is currently only US $0.08. Therefore, if Cardano continues to advance its development correctly and continues to implement everything in the roadmap on time, there is still a lot of potential.
The Current Price of Cardano
In the day following the posting the cost of the coin bounced by 11 percent as of the season of composing. The market top of ADA likewise expanded to $2.276 billion. The altcoin is as of now exchanging at $0.088 with a 24-hour exchanging volume of $115.353 million.
The 11 percent gain represents a four-day high for the altcoin, which has gained some momentum throughout the week. Binance is converting most of ADA’s trade volume to $ 32.624 million with 27.26%. Upbit is closely following $ 30.607 million per second.
The coin, which gained more momentum over the past few weeks, decreased by -50% in the last two months due to the stagnation trend in the last two months. What’s more, Cardano management announced the launch of IELE (Cardano Virtual Machine), which allows Cardano customers to easily develop with the Cardano blockchain.
Internet Online Hong Kong (IOHK) and the Cardano Foundation are said to be on the verge of inventing a widely accepted ADA payment system, and that it is nothing more than a solution to some of the most challenging in the blockchain world.
Could Cardano Reach $.50 By January 1st?
According to the latest trends in the crypto market, almost every digital currency is gaining value, some are high, while others seem to be warming up for bulls in the near market. Regarding the above table, on September 21, 2018, ADA increased by 12% within 24 hours. This trend increased the currency’s value on the weekly chart by 19%.
When you look closely at the periodic ADA charts, especially in the previous quarter of 2017, you will see that last year’s ADA is around $ 0.020. ADA’s current price is $ 0.080, 4 times higher than last year, 10 times lower than the highest ever.
Cardano continues its progress on the technical roadmap in the bear market and its application to daily use cases. This is a good thing, and when we see a complete market improvement, it should support the price of the coin.
ADA/USD Long-Term Price Analysis
⦁ Supply zone: $0.1600, $0.1800, $0.2000
⦁ Demand zone: $0.0600, $0.0300, $0.0001
ADA long term standpoint is a bullish pattern. The development of a bearish railroad on 24th September drove the crypto money down to $0.07353 in the interest zone. Rising bull momentum increased to ADA $ 0.8934 in the supply area. This was on 10-EMA. an indicator of bull pressure. The stochastic oscillator is at 74% . It’s signal points up.
This event shows that an upward price movement of the cryptocurrency as the bullish pressure becomes stronger in the long-term.
Here is the long term, medium-term and short term outlook of the ADA/USD pair:
⦁ Long Term – bullish
⦁ Mid-term – bearish
⦁ Short term – bearish
If we find that Bitcoin is recovering and returning to levels above $ 10,000, we must bring Cardano back to the levels it considers to be 2 to 4x rebate and move towards a year-end price of $ 0.15 to $3. The latter looks like a high possible option.