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Cardano Surges 11% Over The Sleepy Weekend: Price Analysis

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Cardano surges 11% over the sleepy weekend after the new major upgrade to the blockchain has been rolled out on Friday as we reported in our latest Cardano news.

While the rest of the market stayed sleepy, Cardano surges 11% as the fourth biggest cryptocurrency by market cap to a price of $1.64 according to the data from metrics site Nomics. At the current prices, Cardano reemerged to new prices when ADA reached a new high of $1.77 and ADA is still far off the ATH of $2.46 which the project reached two weeks ago.

Cardano started rolling out its Alonzo testnet and the update named the computer scientist Alonzo Church adding smart contracts to the blockchain which means that Cardano is on its way to integrate decentralized applications to its blockchain with the mainnet is expected to go live by the end of August. Charles Hoskinson who is the founder said on YouTube:

“The most critical engineering path, integration path, coordination path, and community path are for the next 90 days.”

Smart contract functionality will place Cardano in direct competition with Ethereum and the blockchain whose coin is the second biggest by market cap as ETH supported smart contracts since the launch in 2015 and the decentralized finance industry that it houses and grew by about $60 billion since last January. While the new features often result in a price increase, ADA fell after the Alonzo announcement on Friday. It slumped along with the rest of the market and tanked by about 8% in six hours and today’s price really contributed to a 25% increase for ADA in the past week.

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ada holds key support, cardano, price, level

Cardano’s market cap reached $52 billion about $1 billion more than BNB with the coin with which it moves for the fourth position on the rankings list and ADA’s market cap $10 billion less than USD Stablecoin Tether and about $127 billion lower than the market cap of Ethereum.

As reported recently, Input-Output Global announced that this is the start in the journey of smart contracts, and to organize the different stages of the rollout, IOG employed the use of the color index system with Blue representing the current test phase, and we can see the white and purple ones but what do they mean?

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/cardano-news/cardano-surges-11-over-the-sleepy-weekend-price-analysis/

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IOHK to integrate Cardano into decentralized crypto trading platform Orion

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Orion, a DeFi ecosystem and crypto trading platform along with blockchain engineering company IOHK, today announced a partnership to integrate the Cardano blockchain into Orion’s trading terminal.

The Orion terminal allows users access to all of the major crypto exchanges; without needing to undergo extensive KYC and AML checks required to sign up to each individual platform, while also ensuring the best price for every trade.

By using Cardano’s energy-efficient ‘Proof of Stake’ mechanism, a technology pioneered by IOHK, Orion will also achieve more sustainable growth through this partnership, an alternative to the widely criticized Proof of Work system employed by Bitcoin and the majority of other blockchains, which uses more energy than the whole of Switzerland. In comparison, Cardano uses the equivalent energy of a family home.

Further, via Orion’s solutions, this integration seeks to bring meaningful transaction volume to the Cardano blockchain.

“We believe that industry collaboration is crucial in order for blockchain to achieve mainstream adoption, which is why we have always taken an open source and patent-free approach to building Cardano. As a result, we are always looking to partner with projects like Orion, which are crucial in order for blockchain to achieve its ‘Bluetooth moment’ where users have a seamless experience when using blockchain networks, regardless of which platform they are using.”
– Romain Pellerin, CTO at IOHK

Orion’s long-term goal is to combine access to both the traditional financial markets and NFT marketplaces. This requires a strong, scalable blockchain, one of Orion’s reasons for partnering with IOHK and integrating Cardano.

“Scalability is of critical importance to Orion in order to achieve widespread adoption: to become the single point of access to the digital asset market, we need a robust, scalable infrastructure that can effectively and efficiently handle the transactions that occur on such a platform. Engineered for efficiency and scalability, the Cardano ecosystem is developing into the most complete and most useful blockchain ever constructed. As the market races towards the solution for the leading alternative to Ethereum on which to build a blockchain-based financial future; Cardano is primed to take that spot as the first and largest proof of stake blockchain, solving critical areas such as cost, latency, efficiency, and scalability. With Orion’s goal of making the digital asset market inclusive and accessible; Cardano’s inclusive and open-source method is a perfect fit.”
– Timothea Horwell, CMO at Orion

Source: https://www.cryptoninjas.net/2021/06/23/iohk-to-integrate-cardano-into-decentralized-crypto-trading-platform-orion/

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Microstrategy And Michael Saylor Could Be The Biggest Risk For BTC

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Microstrategy and Michael Saylor could be the biggest risk for Bitcoin while its price is in a precarious position after the major selloff that happened on the market. All whole this happened, the CEO of the company still continued with his BTC purchase and added to the corporation’s sizeable position but what can this mean for the number one cryptocurrency? We find out in our latest bitcoin news.

While there are a lot of market participants that are cheering the decisions of Saylor every time he tries to buy some more BTC, the more the company holds there is a risk that it will bring to the first crypto and its network, and here’s why. At the expense of going against the popular opinion today and the risk that comes along with it, there is a need to call more attention that is created for bitcoin thanks to Michael Saylor.

The entire point of BTC was so that no third party or another actor could influence the network of money itself because even the creator of the coin, disappeared from existence because of this reason. The emergence of figureheads in the crypto space is new with the likes of Elon Musk coming out of nowhere and commanding masses of crypto holders as they listen. Dogecoin surged like Musk said but then came crashing down to reality and now there’s almost nothing to be done.

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The impact of Musk cannot be understated because Tesla has nowhere near the position as Microstrategy because the company turned from a software solutions company to a crypto-exposure asset and it did well for its MSTR shares for now. Because Saylor kept on loading up on BTC over the past year, he is now at a loss on his purchase price and because he keeps adding more, he could become a target to whales who want to force the corporation to liquidate its positions.

btcusd
A satirical take on all the times Saylor stacked more BTC Source BTCUSD on TradingView.com

Saylor stayed quite strong while Musk had a great time so the man still gets credit for his commitment to the crypto and its adoption. He is also a great guy and is spending time talking to people online about crypto and promoting more education and advocacy across the world. The problem is his lack of risk aversion that can lead to him and his company becoming a target. Because Musk turned also, there’s an example of the damage that can be done when it happens on record. So if Saylor is forced to sell, and turn his back on BTC how bad could things get?

Microstrategy and Michael Saylor could even be in the center of centralization because having that many coins in one man’s hands can have dangerous implications even with the best intentions.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/bitcoin-news/microstrategy-and-michael-saylor-could-be-the-biggest-risk-for-btc/

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Cardano Founder Predicts That Ethereum Will Overtake Bitcoin

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Cardano founder predicts that Ethereum will overtake Bitcoin as a quick victory over the dominant and number one cryptocurrency so let’s read more in our latest bitcoin news today.

Charles Hoskinson talked about crypto and why he thinks Ethereum is poised to overtake BTC in the near future. He started out by talking about the speed of BTC transactions and pointed to the sluggish character of the network and how slow it is compared to other proof of stake networks. Focusing on ETH, in particular, he said that the coin outperformed BTC in many ways as ETH gained popularity over the years as digital currencies became popular. It is now the second biggest coin behind BTC with lots of investors pouring their money into it. Believing that the coin is set to be greater than Bitcoin, the Cardano founder predicts that that could happen in the near future.

Ethereum’s London Hard Fork, eth, eip-1559

One of the ways that Hoskinson said ETH is better than BTC was the development culture associated with it. A good evolution was one of the main advantages he referred to amongst others. The faults found in Ethereum are flexible compared to Bitcoin because there are no issues that are locked into the network which is what makes development in the blockchain so flexible. Ethereum 2.0 is a clear example of this as the development was in the pipeline for a while. It is meant to replace the current network and by doing so, it will solve the bottlenecks that come with using the network and will also make it cheaper to send coins in high traffic times.

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The upgrade is going to help with security and scalability and will make the entire network more secure. This is also being developed by the teams across the entire ETH Ecosystem. Hoskinson even called out BTC for being his own worst enemy. He said that Bitcoin is riddled with network effects but pointed out that there was no way to change the system which means that improvements are not possible for Bitcoin. This makes fixing the obvious flaws associated with BTC impossible.

BTC Continues To Drop , price, bitcoin, level, resistance

The high network fees associated with sending BTC were a debated issue in the crypto space which was meant to be solved with lightning technology. But even with the new technology, the high network fees are still the norm. That is not to say that ETH doesn’t have the problem of high network fees in the high traffic times but compared to BTC it remains a better alternative. Cardano beats both in this regard which is why the coin is using only a penny or two to send out on the network.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.dcforecasts.com/cardano-news/cardano-founder-predicts-that-ethereum-will-overtake-bitcoin/

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