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Cardano Climbs 10% In Rally

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Cardano Climbs 10% In Rally

Investing.com – Cardano was trading at $0.5636 by 08:02 (12:02 GMT) on the Investing.com Index on Sunday, up 10.48% on the day. It was the largest one-day percentage gain since May 13.

The move upwards pushed Cardano’s market cap up to $18.8060B, or 1.45% of the total cryptocurrency market cap. At its highest, Cardano’s market cap was $94.8001B.

Cardano had traded in a range of $0.5151 to $0.5636 in the previous twenty-four hours.

Over the past seven days, Cardano has seen a drop in value, as it lost 25.32%. The volume of Cardano traded in the twenty-four hours to time of writing was $1.0180B or 1.24% of the total volume of all cryptocurrencies. It has traded in a range of $0.4029 to $0.7535 in the past 7 days.

At its current price, Cardano is still down 81.81% from its all-time high of $3.10 set on September 2, 2021.

Elsewhere in cryptocurrency trading

Bitcoin was last at $30,356.9 on the Investing.com Index, up 4.50% on the day.

Ethereum was trading at $2,091.53 on the Investing.com Index, a gain of 5.40%.

Bitcoin’s market cap was last at $574.6722B or 44.35% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $250.6258B or 19.34% of the total cryptocurrency market value.

Cryptocurrency

Understanding Tether’s Peg and Reserves and How They Work

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Understanding Tether’s Peg and Reserves and How They Work

  • How to maintain Tether’s stability.
  • Tether’s reputation and transparency.
  • Financial reserves of Tether are solid, cautious, and liquid.

Given that Terra’s peg has fallen, it’s reasonable to wonder what prevents Tether (USDT) from following the same path.

USDT and Terra utilize distinct designs, mechanisms, and collateral. Terra was a computable stablecoin that wasn’t fully collateralized. It includes a variety of stability-inducing mechanisms, but they all failed in the end.

USDT is fully collateralized, with no credit risk. Each USDT can be exchanged for dollars through Tether, ensuring that when the price falls below $1, investors can acquire USDT at a discount and redeem them with Tether to make a profit.

During periods of high market volatility, the price of USDT might drop below or exceed $1. This does not imply that the peg has been broken. It indicates an increased level of liquidity than what is available on the order books of that exc …

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

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LTC Social Engagement Jumps 21% After MimbleWimble Activation

  • The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.
  • This upgrade has led to a massive jump in overall Litecoin social engagement.
  • So far, Litecoin’s social engagement has increased by 21%, and even hit its highest point in the last three months.

The Litecoin community has recently approved the activation of the MimbleWimble protocol on the LTC mainnet.

MimbleWimble is a privacy-focused decentralized protocol that enables users to conceal transaction data with its confidentiality feature while providing a foundation for other blockchains to improve the usability of their token.

The Mimblewimble Extension Block (MWEB) hides three critical pieces of information: sender address, receiver address, and the amount of crypto sent.

With the Mimblewimble Extension Block, users can opt-in to confidential transactions. The goal of this is to enhance the visibility of Litecoin as a fungible currency that can be used for real-world transactions by lowering fees and adding privacy, throughput and scalability.

This upgrade has led to a massive jump in overall Litecoin social e …

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Cryptocurrency

Game on: Yield Guild Games scholarships on the rise through Q1

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Game on: Yield Guild Games scholarships on the rise through Q1

Yield Guild Games (YGG) has released its Community Update for Q1 2022, revealing that total scholarships rose 39% overall as the guild continues to farm copious amounts of the Axie breeding Smooth Love Potion (SLP) token.

The Community Report shows that the month-on-month growth of scholarships in YGG has been strong despite a downturn in the market. January saw 50.13% growth, February saw a 28.8% increase, while March had 41.93% growth fueled by new partnerships and the rollout of SubDAOs. By the end of March, the guild had 29,458 scholarships, mostly from Axie Infinity.

The number of scholarships at YGG increased every month in Q1.

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