Crypto reversal
The cryptocurrency market was apparently the playground of some very powerful bear whales, which made it very difficult to predict a next move in token assets. A clear example of large people’s coins changing hands on a massive scale is Bitcoin’s 7-day movement.
Source: Münzmarktkappe
The fast dives and upward jumps are clearly visible. However, when the leading coin by market cap approached to break the $ 7,000 support, buyers stepped in and saved the day. Likewise, all leading coins are green at the time of writing. Two of them are in a hurry to make up for the last day’s losses: IOTA and Cardano.
Cardano ADA / USD
One of the fastest recovering pairs in the cryptocurrency verse right now is ADA / USD as its 24 hour profit rose from 12.00% to 15.53% in minutes. It trades at $ 0.2077 and leads the BTC market at 11.07%.
The level at which ADA fell on the last day has not been touched since the beginning of April, when it was difficult to initiate a recovery after the big losses at the beginning of the year. As long as the ADA / USD pair stays above the big USD 0.2000 level, the gates are open for now to gain more confidence.
Cardano and its CEO Going for the Top
According to the founder and CEO of Cardano – Charles Hoskinson, his coin will hit Bitcoin and Ethereum in a year. Mr. Hoskinson made the comments right after ADA ranked 7th by market cap.
“Why is someone worthy of their position in market capitalization? Bitcoin is advertised as a payment system and medium of exchange, and then anyone who has ever tried to use it for it has been a miserable mistake. Usually they stop taking it or they find ways to take money through some creative structure like Bitpay has done. Ethereum claims to be a world computer but then CryptoKitties breaks it. “
What a coin does is its supporting infrastructure, which increases market capitalization = market capitalization. Because of this, the team that developed Cardano and its platform has focused the most on technical improvements and upgrades.
If you look at all of the cryptocurrencies and their ultimate destination, you will find an important similar feature. Effect change for the better. However, the goal becomes fuzzy as the platform is not purpose-built and consumer-centric.
“The way the ecosystem does business is what makes it the current positive reputation for being a leader and a competitor.”
That is why a leader like Bitcoin, although very famous, might find real competition as it struggles every day to get closer to its created purpose. The person / group who wants to be a user looks first at the team, philosophy and science running the network. Which made Charles Hoskinson say the above.
Comments are closed.