Cardano (ADA) has always been more than just a cryptocurrency, it provides developers with a platform where they can create dApps, smart contracts and token issuance using various coding languages. Cardano has been experiencing a steady gain since the announcement of upcoming shelly release with staking pools. The market condition for this cryptocurrency is going well so far and with the recently announced new trading pairs on Binance (one of the biggest and most influential cryptocurrency exchange) has lifted Cardano’s value and uncoupled it from Bitcoin.
Cardano’s Performance (Prior Binance Announcement)
Cardano needed an uplift to stay in the green and finally, it got the much-needed boost from Binance new trading pairs announcement yesterday morning. Although it is ranked as the 7th biggest cryptocurrency on CoinMarketCap. It was a disappointing day for trading in the cryptocurrency market and many coins suffered from a definite decline because of U.S tax return day. Even the crypto giants such as Bitcoin, Ethereum and Ripple couldn’t stay immune to such market conditions. But it was Cardano that outshined all of its adversaries and wasn’t dragged down so low.
On Monday, the announcement of listing Cardano on Huobi Pro (China’s biggest and second largest exchange of the world) created an uphill trend for ADA and kept it stable while the market experienced its ups and downs. Listing on Huobi pro is a milestone in itself for Cardano because now the coin has a chance to enter one of the major cryptocurrency markets in the entire world. Chinese traders are flocking towards newly enlisted coins and there’s a good sign that this trend won’t wear off for long.
Announcement of Binance
Cardano has been listed on Binance but it was coupled with Bitcoin or Ethereum. Which means ADA was traded only with these two pairs. But on Tuesday, Binance declared that they’ve expanded Cardano’s trading pair and introduced ADA/BNB (BNB is Binance coin) and ADA/USDT trading pairs for traders. The reason why this news is a pretty big deal is that now traders are now provided with the flexibilities of trading Cardano (ADA). Nothing could expand trading opportunities for an Altcoin more than having their trading pairs expanded by one of the biggest cryptocurrency exchange. This announcement came out at a preferable moment. Just when the Huobi listing was about to wear off. All of these events including the upcoming release make Cardano, one of the best coins to hold at present.
Cardano’s Performance (Post Binance Announcement)
The announcement created a spike in Cardano’s market value and the investors have created a pump-like situation for Cardano after the announcement of expanding of trading pairs on Binance. Trading against Binance coin and Tether which is U.S dollar equivalent for traders indicates that there’s going to be an increase in the trading volume of ADA in the coming days as it already took over 5% of the total crypto market trading volume. Its features such as ease of developing using several languages, the low transaction fee is attracting more investors and new adoptions all over the world. The organizational superiority of Cardano is now evident and the anticipation of what comes next is doing its job and keeping ADA up by 4.77% on CoinMarketCap.
The best thing about a pump is the sight of rising prices, reaching peak values and all around healthy growth. Cardano has recovered from the previous dip with a gain of 67.63% in the last 7-days. ADA has been reportedly grown more than 22% overnight and its currently at $0.252 with a market capitalization of $6.55 billion. $610 Million worth ADA has exchanged hands during the past 24 hours. But the worst thing about a pump is that it is always followed by a dump. Although Cardano’s performance is going well so far, it’ll be wrong to comment whether these conditions will remain in the coming days.
The volatile nature of cryptocurrency’s market forbids its traders as well as investors and analysts to make predictions and only promotes a comprehensive preparation for the days to come. Even though there are dump signals apparent along Cardano’s path, it remains one of the top 10 major cryptocurrencies and an outstanding project that has more to offer in the coming days. So, it’s better to hold on than missing out once the bulls take control.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of K putt via Flickr
3 Coins with the Largest Potential in 2019
2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.
Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.
Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.
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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon
Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.
The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.
However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.
1) Ethereum (ETH)
Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…
3 Cryptos To Blow Up In The Next Bull Run
It has been an entire year since the last real bull run in cryptos and most traders and investors are ready to experience the excitement of their favorite coins blowing up once again. Ever since January 2018, all that the crypto market was experiencing were price drops, with minor attempts at recovery, which would only lead to another decline in prices.
However, there are several reasons to believe that this situation might change in 2019. Naturally, many are hoping to see it happen sooner, rather than later. One such reason is the natural progress of the crypto market. According to analysts, the market moves in cycles, which include bearish and bullish behavior alike. With the last bearish trend taking up the entire year of 2018, it is now time for the more positive development to take place.
Another reason includes large projects that have a goal to deal with problems that the crypto market has been facing, such as high volatility, scalability, and alike. If developers were to find solutions to problems like these or at least provide a better alternative to the current situation, this could encourage investors to become even more active within the crypto space, which can lead to a lot of positive development.
Finally, there are projects that aim to bring institutional investors to the crypto market, by solving issues that institutions are most…
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