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Cardano (ADA) Markets Fuels After Binance Announces New Trading Pair

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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.

Future Prospects:

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.

Conclusion

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.

We will be updating our subscribers as soon as we know more. For the latest on ADA, sign up for our Telegram!

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

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Blockchain-Focused ETF Arrives on London Stock Exchange

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The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

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Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

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Jeff Bezos
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Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

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Three Biggest Things To Know Come Cryptocurrency Tax Season

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In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

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