In sync with the entire market, Cardano Price too stooped low to $1 in the last month. Since then it has been on an uptrend. The first recovery pump almost touched $2 and eventually faced correction. The tug of war between bulls and bears has now reached a consensus at a $1.8 resistance level. ADA Price road further looks merry as it is poised to have a huge surge.
Will Cardano price hit $5?
Cardano (ADA) needs to close above the 1.82 marks and sustain the price above that supply. once it closes above that level it could easily reach ATH ($2.40 ). if Cardano maintains the current price movement, the crypto coin might skyrocket past key resistance levels to register a new all-time high price at around $5.
At present, Cardano appears to exhibit the right signs that its ongoing bull run is gaining strength. The altcoin has been showing high lows of late, reflecting a potential price trend past the ascending triangular channel. Most often than not, the ascending triangle pattern usually signals the start of a bullish campaign in regards to technical analysis. In the case of Cardano, a massive breakout is likely to happen before the trend lines meet.
Leading crypto analyst Michael van de Poppe recently posted a video explaining why he remains bullish on Cardano, as he expressed optimism that its price could soar to as high as $5 soon, making it the fourth-largest cryptocurrency by market cap.
The analyst mentioned the key resistance at the $1.80 level, just below which the ADA/USD is trading at present, and hoped that a break above this could power an uptrend all the way to $3.35.
Top Catalysts That Will Fuel the ADA Price Rally
Cardano decoupling from Bitcoin
The good old narrative of the altcoins herd following Bitcoin’s narrative seems to be fading away. Altcoins now have an ecosystem and services that enable real-world solutions, and Cardano is the best exhibit to prove this.
Cardano has decoupled from Bitcoin and has jumped over 700% versus BTC. Although the severe fall in May sent the pair to the cheat breakthrough level, that was immediately erased, and the ADA/BTC pair is now nearing the 2021 high.
The ADA/BTC pair is currently trading far below its all-time high set in 2018. Nonetheless, Cardano’s impulsive trajectory since the start of 2021 has positioned it to prolong its relative outperformance in the medium run.
Cardano is wooing institutional interest
Last month’s report from Coinshares Digital Asset Fund Flows reveals Cardano has captured the largest institutional inflows at $10 million. It was the second week in a row that ADA inflows increased. YTD inflows for Cardano institutional investment products to $24 million. Despite the market’s downturn, institutional investors were buying ADA.
This week’s report says inflows to Cardano institutional products total $5.2 million. It’s the third week in a row, bringing ADA’s YTD inflows to $29 million. This interest from institutional investors in proof of stake coins acts as a factor to price growth in the long term.
The Green Coin Factor
Elon Musk recently decided to not accept Bitcoin due to the impact of mining on the environment. This decision has put the limelight on potential Green Coins.
Cardano takes the forefront here, as it is an eco-friendly green coin since it was designed to use far less energy than Bitcoin and Ethereum.
The Cardano blockchain has an energy-efficient proof of stake consensus that relies solely on other ADA holders to confirm transactions, eliminating the miner rewards that are central to Bitcoin. As a result, the network is more efficient and consumes less energy.
Conclusively, Cardano has the potential to give great returns as it is fueled by the above three factors. It is expected to rise 340%($7.5) to the 138.2% Fibonacci retracement level of the 2018-20 bear market.
Dimitra (DMTR) Listed On Kucoin
Dear Dimitra Community, We have some fantastic news to share with you. Dimitra is excited to announce the listing of the $DMTR token on KuCoin, recognized as one of the world’s leading crypto currency exchanges. The exchange’s user base is global and it is considered to be one of the leading trading venues for emerging […]
Dear Dimitra Community,
We have some fantastic news to share with you. Dimitra is excited to announce the listing of the $DMTR token on KuCoin, recognized as one of the world’s leading crypto currency exchanges. The exchange’s user base is global and it is considered to be one of the leading trading venues for emerging and established altcoins.
KuCoin is the first exchange to list $DMTR. This listing, to be followed by other centralized and decentralized listings, will facilitate and accelerate Dimitra’s goal of democratizing agriculture technology for farmers globally.
The Dimitra $DMTR token will be available for deposit initially with the DMTR/USDT trading pair.
– Deposits will open at 11:00am UTC on September 21, 2021
– Trading will start at 09:00am UTC on September 22, 2021
All trading execution is done through the official website at www.kucoin.com or within the KuCoin Android and iOS apps
Dimitra is grateful and fortunate to experience the growth of such an active and loyal community! We are looking forward to continuing to grow together.
📢 WORLD PREMIERE LISTING
🔹Deposit: now open (supported network: ERC-20)
🔹Trading: 09:00 am on September 22, 2021 (UTC)
🔹Withdrawal: 10:00 am on September 25, 2021 (UTC)
— KUCOIN (@kucoincom) September 21, 2021
Check out KuCoin’s listing announcement here: https://www.kucoin.com/news/en-dimitra-dmtr-gets-listed-on-kucoin-world-premiere?utm_source=twitterinfo
Dimitra (DMTR) is a blockchain platform that is democratizing the agricultural technology space for smallholder farmers globally. Dimitra provides access to the blockchain, machine learning, Internet of Things sensors, and Satellite Technology through a mobile platform that helps farmers globally increase their yield, reduce costs and mitigate risks. Current farming practices are not sustainable; creating an evolution of practices will contribute to solving some of today’s largest issues for farmers. Issues like poverty, hunger, global warming, carbon emissions, freshwater, and soil preservation are all impacted by the adoption of Dimitra. Dimitra’s platform provides utility by combining the crypto investment cycle with agricultural development practices within nations globally.
MiamiCoin Could Free Residents Of Tax Burden, Says Mayor
Thanks to its recently launched cryptocurrency, Miami is exploring a new way to fund municipal expenditures. ICYMI my interview on MiamiCoin w/ @FoxBusiness ✅The revolutionary concept of @mineCityCoins ✅Understanding how it’s generated $5M+ for the City ✅How these benefits translate into a better quality of life for Miamians pic.twitter.com/ipewPwBMdw — Mayor Francis Suarez (@FrancisSuarez) September […]
The post MiamiCoin Could Free Residents Of Tax Burden, Says Mayor appeared first on CryptoCoin.News.
Thanks to its recently launched cryptocurrency, Miami is exploring a new way to fund municipal expenditures.
ICYMI my interview on MiamiCoin w/ @FoxBusiness
✅The revolutionary concept of @mineCityCoins
✅Understanding how it’s generated $5M+ for the City
✅How these benefits translate into a better quality of life for Miamians pic.twitter.com/ipewPwBMdw
— Mayor Francis Suarez (@FrancisSuarez) September 20, 2021
MiamiCoin earns 2,000 USD every 10 minutes for the city
In February, Miami mayor Francis Suarez made first advancements to transform the city into a cryptocurrency hub. His plans were further cemented when the municipal cryptocurrency MiamiCoin launched last month with 30% of all mined coins going directly to the city.
In a recent interview with Fox Business, Suarez confirmed that the city receives roughly 2,000 USD every 10 minutes though MiamiCoin. Annualized, this transfers to a revenue of over 100 million USD, although Suarez has been more careful, estimating a yearly revenue of 60 million USD. The money is earmarked for specific projects, such as funding for underprivileged communities, crypto education, and climate change mitigation.
Crypto could revolutionize government funding, says Francis Suarez
In his interview, Suarez stated that MiamiCoin could theoretically abolish Miami’s already low tax burden altogether:
It’s interesting because it’s not an involuntary tax and it’s not philanthropy. It’s something that is completely different and could revolutionize the way governments are funded in the future.
It is still a long way to go for that though. In 2015, the City of Miami recorded a total tax revenue of roughly 240 million USD. Yet, the move towards municipal coins is a very natural development.
Using cryptographic tokens as a funding vehicle for developing DeFi platforms and other decentralized applications is a tested method and has specially made great advancements over the last year. It should be only a matter of time until this method will be tried on a municipal, or even nationwide scale.
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AMC Entertainment Could Include Dogecoin as a Payment Option
Following confirmation that AMC would begin accepting Bitcoin, Ethereum, Bitcoin Cash, and Litecoin for online payment, the company’s CEO has asked the Dogecoin community if AMC should add the meme coin among the cryptocurrency options.
Almost 80% Want to Pay for a Movie Ticket With DOGE
Adam Aron, CEO of the world’s largest movie theater chain AMC Entertainment, conducted a poll via Twitter on Tuesday (September 21st, 2021) to check whether the company should accept DOGE payment. The poll, which ends on September 22nd, has garnered a lot of responses, most of them wanting AMC to include the meme crypto.
According to Aron, the Twitter survey came amid calls from members of the Dogecoin online community to add DOGE to the list of crypto options.
“I hear from many on my Twitter feed we should accept Dogecoin too. Do you think AMC should explore accepting Dogecoin?”
Before the latest development, the AMC CEO announced that the movie theater giant will accept Ethereum, Bitcoin Cash, and Litecoin by the end of 2021. This was after Aron previously revealed during an earnings call in August that customers would be able to pay for movie tickets and concessions online with bitcoin, also at the end of the year.
The poll has so far seen 110,000 votes, with 70% responding positively to the idea of DOGE payment, while 8% also agree but say they would not use the meme coin for payment. Meanwhile, 22% of the voters were not in support of the motion.
Growing Support for Dogecoin Payment
Aron’s survey comes as the cryptocurrency market is experiencing massive price dumps, along with the global financial markets, mostly tied to the Evergrande saga. Bitcoin, which traded at $48k over the weekend, dropped to as low as $40k, with the price of other altcoins also plummeting. However, there has been a slight recovery.
Dogecoin is currently the 10th largest crypto by market capitalization and reached an all-time high (ATH) of over $0.7 back in May. Now, though, it’s down to roughly $0.2.
If AMC Entertainment goes ahead to include the meme token among the list of accepted cryptocurrencies, the movie theater giant would become the latest company to support DOGE payments. Some others who have adopted Dogecoin include American basketball team Dallas Mavericks and Newegg.
Apart from AMC’s Adam Aron, Tesla’s CEO Elon Musk also carried out a similar poll for his followers. Although many of the respondents voted in favor of the electric vehicle manufacturer including DOGE among payment options, the company is yet to make it official.
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