Connect with us

Cryptocurrency

ADA Sees Slight 24 Hour Gain But Investors Wary Of Market Bottom

Published

on


ADA Sees Slight 24 Hour Gain But Investors Wary Of Market Bottom

    • Cardano (ADA) has risen slightly in price over the last 24 hours.
    • TA shows that the coin is oversold and still in a bearish trend.
    • Fears that the crypto market has not bottomed yet may suggest that ADA’s price will fall more.

The brain child of Charles Hoskinson and his team, Cardano (ADA), has risen slightly in price over the last 24 hours according to the crypto market tracker, CoinMarketCap.

ADA’s price has risen 0.73% to $0.5344 in the last day. However, it still has a long way to recover from its weekly loss of around 28.51%.

Ranked number 7 on CoinMarketCap’s list, ADA has a market cap of $18,056,889,013. Its trading volume has also fallen by 25.42% over the last 24 hours as only $1,045,315,697 ADA was traded over the last day.

ADA/USDT RSI shows that the coin is oversold (Source: TradingView)

Looking at the daily shart for ADA/USDT, the Relative Strength Index (RSI) shows that the coin is oversold. The gradient of the RSI line shows that it tried to break past the signal line and exit oversold territory, but was unable to do so.

The 20 and 50 Exponential Moving Averages (EMAs) indicate the ADA/USDT is still in a bearish trend, as the 20 EMA is still positioned under the 50 EMA with no evidence that the two will cross bullish anytime soon.

The price of ADA may continue to fall further when looking at the current sentiment in the cryptocurrency market. The crypto community fears that we have not seen the bottom of this market crash.

There is also the fear that the rebound we have seen with LUNA may just be a trap. If this is the case, the crypto market may be liquidated further – having a negative cascading effect on all of the cryptos in the market.

Continue reading on CoinQuora

Cryptocurrency

SHIB Passes FTX for Biggest Holding by USD Among Top 500 Whales

Published

on


SHIB Passes FTX for Biggest Holding by USD Among Top 500 Whales

  • SHIB just flipped FTT for the biggest holding by dollars among the top 500 ETH whales.
  • SHIB has a USD value of over $840 million.
  • Shiba Inu (SHIB) has gained interest and massive popularity among whales.

Shiba Inu (SHIB) recently flipped FTX Token (FTT) for the biggest holding by dollars among the top 500 Ethereum whales, according to a recent tweet by the crypto whale tracking platform, WhaleStats.

Continue Reading

Cryptocurrency

Colombian Crypto Market Advances, but Users Demand Greater Security

Published

on


Colombian Crypto Market Advances, but Users Demand Greater Security

  • A little more than a third of Colombians would be willing to use cryptocurrencies if guaranteed a higher level of security against theft and scams.
  • The growth of the cryptocurrency market in Colombia could be linked to its use in drug trafficking by Mexican cartels.
  • About 70% of those surveyed would be willing to pay for online purchases using cryptocurrencies.

As the cryptocurrency market in Colombia continues to grow, along with interest in the use of digital currencies as a means of payment, an estimated two-thirds of Colombians are demanding greater security for their investments.

The data was revealed in a recent study by European cryptocurrency platform CoinsPaid, which showed that 65.4% of people surveyed were willing to adopt digital money in their business activities.

However, if the government and companies in the sector were to provide a higher level of security to the transactions made by users, particularly in preventing theft and fraud, that number could increase.

Colombia, ranks among the top three Latin American countries in terms of the use of cryptocurrencies, alongside Venezuela and Argentina, according to the Chainalysis‘ 2021 ‘Global Cryptocurrency Adoption Index‘.

“Up to 35.8% of the participants in the survey would be willing to buy with cryptocurrencies if the country’s scenario guaranteed greater confidence,” the report revealed, as quoted by newspaper La República.
“Respondents prioritize the aspect of regulation and information about promotions, discounts and exclusive services that businesses that accept cryptocurrencies could offer,” the study added.
This data only confirms the growth of the cryptocurrency market in the South American country, which ranks 11th among countries using digital currencies the most globally.

Currently, Colombia is also the country with the largest number of Bitcoin ATMs in Latin America. The rise of the informal market for cryptocurrencies in the country is largely due to the remittances sent by Venezuelan migrants to their families.

Drug Trafficking Rears Its Head

A poorly-kept secret is that on the border between Colombia and Venezuela, large volumes of cryptocurrencies are being used by Mexican drug cartels to pay for cocaine shipments from Colombia. This means that a not insignificant portion of the cryptocurrencies circulating in the Colombian market are presumed to come from drug trafficking.

For decades, Venezuela, Central America, and the Caribbean have been the route used by drug cartels to smuggle drugs from Colombia, Peru, and Bolivia to the United States and Europe, as described in a report by the United Nations Office on Drugs and Crime (UNODC).

One of the main centers of drug trafficking operations is located in the Colombian border city of Cucuta, Arauca. Informed sources have revealed that Mexican cartels send “executives” from time to time to exchange cocaine for cryptocurrencies.

“The Sinaloa Cartel and the Gulf Cartel are the buyers of the cocaine grown in Colombia, Peru and the Bolivian jungle. It reaches Ecuador and Venezuela by land. From there, the cartels send the shipments on planes to Mexico, Honduras, Nicaragua or Guatemala”, affirms the professor of National Security at the National Autonomous University of Mexico (UNAM), Raúl Benítez.

The Growing Trend of Crypto Adoption

“Purchases in cryptocurrencies like Bitcoin obviously increase when their own value is stable, but the trend is clear,” said Rafael Brunacci, business development manager for CoinsPaid in Latin America.
Brunacci further projects that “between December 2020 and January 2022, cryptocurrency transactions will reach U.S. $1.8 trillion, which is a huge amount for retail activity, and illustrates the importance of businesses accepting digital currency payments.”
According to the results of the study, almost two thirds of Colombians would also be willing to use cryptocurrencies to make various online purchases, and 31.2% would be open to buying electronic equipment such as computers and smartphones using digital assets.

Continue reading on DailyCoin

Continue Reading

Cryptocurrency

A Gaming Token RoboApe With The Potential To Be Ranked As High As Avalanche Or Even Ethereum

Published

on


A Gaming Token RoboApe With The Potential To Be Ranked As High As Avalanche Or Even Ethereum

Blockchain and cryptocurrencies are now at the forefront of technological advancement. With hundreds of cryptocurrencies already available, it is reasonable to expect the market to continue to grow. Ethereum (ETH) and Avalanche (AVAX), rated second and twelfth, respectively, have established themselves as two of the most popular blockchain-based cryptocurrencies.

The blockchain community is now buzzing about RoboApe Token (RBA). We’ll look at the unique selling characteristics of three coins: ETH, AVAX, and RBA, the latter of which is very new. This will enable us to see whether the upstart can equal the past giants’ achievements and join their league. Let’s get going.

Ethereum (ETH)

Ethereum (ETH) is a decentralised, open-source blockchain platform that supports a variety of other currencies. It also makes decentralised smart contract execution easier.

The second-largest cryptocurrency, Ethereum (ETH), will get a major upgrade to ETH 2.0 in 2022.

Despite severe delays to date, it is expected to push blockchain technology forward. The impending switch to a proof-of-stake (PoS) consensus should reduce Ethereum’s energy usage.

After all of the upgrades are implemented, Ethereum (ETH) aims to hit 150,000 transactions per second. Ethereum is most known for its native currency, ETH, which is often regarded as a good long-term investment.

Avalanche (AVAX)

Avalanche (AVAX) is a coin that allows for the near-instant execution of smart contracts. AVAX is one of the most popular cryptocurrencies, with a market capitalization increase of 3,000% in the previous year.

Due to its numerous creative features, Avalanche, a newcomer to the crypto market, has quickly become a favourite among investors.

Avalanche (AVAX) was created to “strive to be quick, secure, and inexpensive in order to enhance user experience,” according to the project’s creators.

Even if the incredible emergence of another so-called Ethereum killer, Solana (SOL), overshadowed Avalanche, it is still a serious contender.

In essence, the network is a high-performance, scalable, adaptable, and secure blockchain with several advantages for novice crypto investors.

Furthermore, Avalanche (AVAX) is the quickest smart contract platform in terms of time-to-finality, with the potential to handle up to 4,500 transactions per second (TPS).

Avalaunch is the platform’s launchpad. It is a protocol that is unique to the avalanche ecosystem and provides innovative and groundbreaking projects with a quick and secure platform for decentralised financing.

Avalanche (AVAX) uses a distribution technique that ensures widespread involvement and that the project teams obtain what they need.

AVAX is Avalanche’s utility and governance token. The token may be used to supply, mint (reward) stakers, and conduct transactions, among other things.

RoboApe (RBA)

RoboApe (RBA) is a new meme currency with a revolutionary decentralised community design that prioritizes user engagement and development above individual profit. It’s a place where people may become involved in community development and give back.

The coin is deflationary, meaning it will gradually be phased out of circulation, boosting the value of those that remain.

With enough supply to expand and reward future users, the system will be able to reward early adopters and community participants.

Furthermore, the developer wallet’s exclusion gives an additional incentive for the community to collaborate on successful projects.

The value of the RoboApe (RBA) token may be grown via NFT minting and trading, and the community can engage in eSports competitions held on the platform, with the option to promote and publicise these events through specialised leagues, offering additional income possibilities.

The ever-expanding nature of this project will continue to progress with all of these options and the resources of RoboApe (RBA) platform’s.

RoboApe (RBA) has the most potential for development since the project is still in its early stages and will continue to expand as new features are added.

Given its cheap entrance cost and potential for growth, the meme project is one of the most exciting investments you might make this year.

Find out more information on RoboApe (RBA) Telegram or Website. You can also find more about presale here.

Continue reading on DailyCoin

Continue Reading

News

Cryptocurrency3 mins ago

SHIB Passes FTX for Biggest Holding by USD Among Top 500 Whales

SHIB Passes FTX for Biggest Holding by USD Among Top 500 Whales SHIB just flipped FTT for the biggest holding...

Cryptocurrency3 mins ago

Colombian Crypto Market Advances, but Users Demand Greater Security

Colombian Crypto Market Advances, but Users Demand Greater Security A little more than a third of Colombians would be willing...

Cryptocurrency4 mins ago

A Gaming Token RoboApe With The Potential To Be Ranked As High As Avalanche Or Even Ethereum

A Gaming Token RoboApe With The Potential To Be Ranked As High As Avalanche Or Even Ethereum Blockchain and cryptocurrencies...

Coronavirus4 mins ago

U.S. births rise for the first time in seven years in 2021

© Reuters. FILE PHOTO: A general view of the U.S. Centers for Disease Control and Prevention (CDC) headquarters in Atlanta,...

Stock Markets4 mins ago

Exclusive-Oracle to win unconditional EU nod for $28.3 billion Cerner deal -sources

© Reuters. FILE PHOTO: The company logo for Oracle Corp. is displayed on a screen on the floor at the...

Stock Markets4 mins ago

Wall St plunges as Snap’s bleak forecast sparks selloff

2/2 © Reuters. FILE PHOTO: Snapchat app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado...

Economy4 mins ago

Best Buy sees lower TV, computer sales as inflation hits shoppers’ wallets

© Reuters. FILE PHOTO: A person enters a Best Buy store in Manhattan, New York City, U.S., November 22, 2021....

World4 mins ago

Russian and Chinese jets patrol East Asia skies, capping Biden trip

© Reuters. FILE PHOTO: Flags of China and Russia are displayed in this illustration picture taken March 24, 2022. REUTERS/Florence...

Stock Markets27 mins ago

Lattice Semiconductor Upgraded by Susquehanna on ‘Perfect Roadmap’

© Reuters. Lattice Semiconductor Upgraded By Susquehanna On ‘Perfect Roadmap’ By Sam Boughedda Lattice Semiconductor Corporation (NASDAQ:LSCC) was upgraded from...

Stock Markets27 mins ago

Tesla loses bid to move sexual harassment lawsuit to arbitration

© Reuters. FILE PHOTO: A Tesla vehicle drives past Tesla’s primary vehicle factory after CEO Elon Musk announced he was...

Cryptocurrency27 mins ago

Cardano Falls 10% In Selloff

Cardano Falls 10% In Selloff Investing.com – Cardano was trading at $0.4936 by 10:11 (14:11 GMT) on the Investing.com Index...

Stock Markets27 mins ago

Moderna CEO to Exercise Options, Donate Hundreds of Millions to Charity

© Reuters Moderna (MRNA) CEO to Exercise Options, Donate Hundreds of Millions to Charity By Senad Karaahmetovic Moderna (NASDAQ:MRNA) CEO...

Stock Markets27 mins ago

Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.53%

© Reuters. Saudi Arabia stocks higher at close of trade; Tadawul All Share up 0.53% Investing.com – Saudi Arabia stocks...

Economic Indicators33 mins ago

U.S. business activity slows in May, survey shows

© Reuters. FILE PHOTO: Stacked containers are shown as ships unload their cargo at the Port of Los Angeles in...

World33 mins ago

Analysis: Erdogan’s vow to expand Syria operations raises stakes in Turkey-NATO row

© Reuters. FILE PHOTO: A Turkish soldier waves a flag on Mount Barsaya, northeast of Afrin, Syria January 28 ,2018....

Stock Markets33 mins ago

U.S. Stocks Open Lower as Investors Worry About Recession Ahead

© Reuters. By Liz Moyer Investing.com — U.S. stocks opened lower on Tuesday, weighed down by a sharp decline in...

Cryptocurrency33 mins ago

Avalanche nears key breakdown level that could sink AVAX price by another 65%

Avalanche nears key breakdown level that could sink AVAX price by another 65% Avalanche (AVAX) gained 0.5% to reach over...

Cryptocurrency34 mins ago

Crypto Users Have Many Questions About Upcoming Cardano Hard Fork

Crypto Users Have Many Questions About Upcoming Cardano Hard Fork The Cardano Vasil Hard Fork will be the next upgrade...

Economy34 mins ago

EU proposes to make seizing assets easier, including of sanctioned oligarchs -document

2/2 © Reuters. FILE PHOTO: Russian oligarch Roman Abramovich’s super yacht Solaris is seen at Barcelona Port in Barcelona, Spain,...

Cryptocurrency34 mins ago

Investor Tries to Confront Do Kwon, Gets Arrested by Police

© Reuters. Investor Tries to Confront Do Kwon, Gets Arrested by Police An investor who lost millions in the Luna...

Economic Indicators34 mins ago

Workers at French window maker trade perks for pay hike to beat inflation

© Reuters. Herve Volochinoff, 24, works on the structure of a window at Fligitter, a window-maker company located in Ottmarsheim,...

Stock Markets34 mins ago

Exclusive-EU set to clear without conditions $28.3 billion Oracle, Cerner deal – sources

© Reuters. FILE PHOTO: The company logo for Oracle Corp. is displayed on a screen on the floor at the...

Stock Markets34 mins ago

Lufthansa aims for 20% stake in ITA Airways -source

2/2 © Reuters. FILE PHOTO: A new state-owned Italian carrier Italia Trasporto Aereo plane with the new blue livery is...

World57 mins ago

Russian and Chinese jets conduct patrol in East Asia, capping Biden trip

© Reuters. FILE PHOTO: Flags of China and Russia are displayed in this illustration picture taken March 24, 2022. REUTERS/Florence...

Cryptocurrency57 mins ago

Russia’s updated crypto mining bill cuts tax amnesty for Bitcoin miners

Russia’s updated crypto mining bill cuts tax amnesty for Bitcoin miners In less than a month, the draft of a...

Stock Markets57 mins ago

Wall Street opens lower on Snap shock, growth fears

2/2 © Reuters. FILE PHOTO: Snapchat app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado...

Economic Indicators57 mins ago

Full cost of rebuilding Ukraine impossible to quantify, says German Finance Minister

2/2 © Reuters. FILE PHOTO: Rescuers search for bodies under the rubble of a building destroyed by Russian shelling, amid...

Stock Markets57 mins ago

Police search McKinsey’s Paris office in tax fraud probe

© Reuters. FILE PHOTO: The logo of consulting firm McKinsey and Company is seen at the high profile startups and...

Economy57 mins ago

Oh Snap! Social media firms sink after bleak warning from Snapchat parent

© Reuters. FILE PHOTO: A woman stands in front of the logo of Snap Inc on the floor of the...

Stock Markets1 hour ago

Ralph Lauren expects margins to grow as the affluent shrug off inflation

© Reuters. FILE PHOTO: A man walks past Ralph Lauren Corp.’s flagship Polo store on Fifth Avenue in New York...

Trending