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Cardano blockchain aims to create a transparent, fair, and secure payment system.
The project uses a proof-of-stake (PoS) consensus mechanism referred to as Ouroboros, and it supports smart contracts and decentralized applications dApps.
Cardano’s native token ADA facilitates all activities on the network, and its price often fluctuates as other assets in the crypto market.
ADA’s Price Performance
ADA is trading at $0.3147 at 08:50 EST on July 21, 2023, and ranking No. 8 among the top cryptocurrencies on CoinGecko. ADA performed well over the past month and appreciated by 12%.
But the coin has been bearish in the past week falling by 10%. Also, today, July 21, the asset’s value is down by 3%, and its trading volume at $264 million in the last 24 hours represents a 22% decline.
Its one-year price change also shows a decline of 34%.
The Market Price of ADA Could Fluctuate
ADA’s technical chart shows it is trading slightly above the 50-Day Simple Moving Average (SMA) and below the 200-Day SMA. This indicates that the asset is short-term bullish and long-term bearish.
ADA’s Moving Average Convergence Divergence indicator slightly trades above the signal line with faded green histogram bars.
This shows that the coin is bullish, as indicated by the 50-Day SMA indicator but is losing its buying pressure as the bears increase the selling momentum. The Relative Strength Index (RSI) is at 53.65 in the neutral zone moving to the oversold zone (30).
This suggests that the asset is gradually depreciating in market value and may experience price fluctuation today.
Support and Resistance Levels for Cardano (ADA)
If the bears maintain the trend, the coin will likely hit the $0.2889 support in the next few days.
When this happens, many investors may wish to sell off their assets to evade additional losses. This action may force ADA’s value to reach the $0.2771 support. However, if the bulls buy more coin units today, they could push the price to a $0.3230 resistance level.
If they further increase the buying pressure, it will attract more investors to the asset. This might cause the coin’s value to reach the $0.3576 resistance in the short term. Note the crypto market often fluctuates. The future market behavior of ADA might change from the analysis above.
Experts Predict ADA’s Future Market Prices
Many crypto analysts have predicted the market value of ADA for the year 2023 and beyond.
Techopedia predicted that by 2023, the asset might trade average at $0.2829, fall to $0.1123, or rise to $0.4535. By 2030, they also revealed that the asset could reach $2.80, $4.40, and $6 for the minimum, average, and maximum prices, respectively.
CoinPedia shared that by 2026, ADA may have the lowest price of $2.76, an average price of $3.03, and the highest price of $3.30. For 2028, they stated that the coin’s market value might rally to $5.73, trade within an average price of $5.51, and may drop to $5.29.
By 2029, the experts also predicted that the coin might have its lowest, average, and highest market prices around $6.68, $7.235, and $7.79, respectively.
A team of technical analysts at CryptoNewsZ said that by the year 2025, ADA’s market value might depreciate to $0.99 but could surge to $1.43. By 2027, they also shared that the market price of ADA might have a maximum price of $2.36 and a minimum price of $1.64.
Some Factors That Could Affect the Cardano’s Market
Some factors like recent updates within a blockchain, crypto regulations, macroeconomic activities, market sentiment, and SEC’s lawsuits can affect ADA’s market.
Latest Updates in Cardano
Cardano Announces Stake Pools
On July 18, 2023, Cardano Foundation Team announced the completion of the Cardano Foundation Wallets re-delegation.
This activity was carried out to adjust Cardano’s former delegation methodology to suit the platform’s design as it grows. This was concluded after Cardano received 302 valid applications from the stake pool.
The foundation team finally took 47 pools as the representatives of the entire pool through a random draw. This could increase investors’ confidence in the project, and the effect might be seen in ADA’s market.
Intersect Now Launched in Cardano
On July 13, 2023, Cardano Community confirmed the launch of Intersect into its ecosystem.
Intersect is a new organization that consists of members of the Cardano ecosystem launched in network to support its growth.
Cardano Partnered with Merchandise and Epoch Sports
Cardano Foundation assisted Epoch Sport and Merchandise launch 6000 lacrosse jerseys (limited edition) for the World Lacrosse Men’s Championship in 2023. The foundation’s participation allowed the jerseys to be authenticated and given intellectual property protection via its technology.
This partnership shows one of the capabilities of blockchain technology. This might mark a new experience among customers as it will fight the emergence of fake ones.
The Alternative Asset _ Bitcoin 2.0 ($BTC2.0)
Bitcoin 2.0 ($BTC2.0) is created to be the meme version of Bitcoin. The project founders claimed it is the OG meme coin.
The project’s vision is to merge the reputation and value of Bitcoin. To achieve this, creators built it on the Ethereum network to utilize its versatility. Bitcoin 2.0 has a digital coin image with a “MAKE OG MEME COIN FUN AGAIN.”
BTC 2.0 Price Moves and Market Structure
The asset trading pair was created 11 days ago. It trades on Uniswap, PancakeSwap, SushiSwap, and Fraxswap against wrapped Ethereum (WETH).
The price dropped 13% at 13:30 EST on July 21, 2023, with a trading volume down 39% at 4 million in the last 24 hours. It has a market cap of $8.2 million in the past 24 hours. Its current market value is worth $0.3922.
BTC 2.0 witnessed a tremendous rally on July 15 and had the highest price on July 16, at $0.6831.
Data from DEXTools shows that the bulls dominate its market. Dexscreener reveals that the token has reached a fully diluted valuation (FDV) at $8.3 million. This might encourage investors to increase their investments.
Information from Dexscreener shows that the asset has recorded 275 thousand transactions in the last 24 hours. The token has locked liquidity at $1.3 million.
DEXTscore
The decentralized crypto analytics tool, DEXTools, provides investors with some indicators that will enable them to predict the reliability of a crypto project.
Bitcoin 2.0 has an overall DEXT score of 99/99. The DEXTscore built up from:
- Transactions point: 99 points
- Information: 99 points
- Holder: 99 points
- Pool: 99 points and
- Creation: 99 points
This score suggests that the asset has a positive status and could maintain it for some in the future. The project has a strong Community Trust about 80%.
Features of Bitcoin 2.0
Ownership Renounced: the creators revealed that the token is for everyone, so they do not own the project.
This was why the project was built on the Ethereum network to utilize its immutable smart contract.
Zero tax: token holders need not pay tax when utilizing the asset for the transaction.
If the platform later creates a stacking pool in the future, the rewards for both short-term and long-term investments will not be taxed.
Locked Liquidity: information from the project’s official website shows that the project has locked liquidity.
This may make investors feel safe and secure as their interests are protected. The locked liquidity can prevent rug pulls after token listing. Moreover, the locked mechanism will also help increase the asset’s trading stability on crypto exchanges.
How to Purchase BTC 2.0
- Go to the Bitcoin 2.0 website
- Click on the button “Buy $BTC 2.0.”
- It will take you to a list of exchanges where you can buy the token
- To Buy through Uniswap
- You need a dApp crypto wallet, and use can buy using ETH or WETH
- Click on the Uniswap button
- It will take you to Uniswap’s official website
- Click on “I understand” to acknowledge the information from a pop-up window to proceed.
- Navigate the website to get the connect button
- Click on the button to proceed
- Put the amount you want to swap with $BTC 2.0
- Click on confirm to proceed
- At this point, the transaction should be successful
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