CARDANO price, news and Forecast (ADA US DOLLAR)

Cardano price positioned for bullish reversal, with 100% gains in sight

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Cardano price positioned for bullish reversal, with 100% gains in sight

Cardano price action has been some of the most dismal and disappointing out of all the major cryptocurrencies. But Cardano’s fortunes are about to change.

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Binance Smart Chain implements ongoing burn like Ethereum’s EIP-1559

Binance successfully concluded the Bruno upgrade v1.1.5 earlier today. A burn mechanism is now implemented to reduce the circulating supply of Binance Coin. 

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XRP nodes run by Ripple fell out of sync for over 5 hours, disrupted wallet services

Public XRP ledger nodes “s1” and “s2” run by Ripple fell out of sync with the XRP ledger for over 5 hours yesterday. Non-custodial XRP wallet Xumm was not functioning well, disrupting usage and accessibility. 

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Chainlink price ready to reverse, 30% upswing likely for LINK

Chainlink price seems ready for a reversal of its two-week downswing as it attempts to create a higher high. This outlook is also supported by on-chain metrics, which suggest the possibility of accumulation at the current levels for LINK.

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According to the Cardano Foundation, Cardano’s native token, ADA, is a digital currency. Any user, located anywhere in the world, can use ADA as a secure exchange of value – without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain. Learn more in our Cardano Guide.

Every ADA holder also holds a stake in the Cardano network. ADA stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pool's likelihood of receiving rewards. In time, ADA will also be usable for a variety of applications and services running on the Cardano protocol.

Characteristics of Cardano

Cardano was created as an alternative to Ethereum, with the mission of creating a platform that can process more transactions at a low cost.

  • It is the first peer-reviewed decentralized blockchain protocol that uses a scientific approach.
  • Cardano blockchain allows users to build smart contracts, create decentralized applications and protocols, and instantly send and receive funds with minimal fees.
  • ADA holders use their coins to vote for changes or improvements on the protocol, taking part in its development.

Differences between Bitcoin and Cardano

  • Cardano combines Ethereum and Bitcoin features. It also has other features inherent to third-generation blockchains.
  • ADA approach is unique based on peer-reviewed scientific evidence to ensure its security.
  • As a smart contract platform, Cardano provides safety and scalability through its unique two-layered architecture.

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