CARDANO price, news and Forecast (ADA US DOLLAR)
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Bitcoin Price Forecast: BTC dips below $67,000 as holders book profits
Bitcoin continues to trade in the red on Tuesday after facing rejection around the $70,000 level on Monday. Despite the price decline, institutional investors capitalized on the recent dips, with the US spot Exchange Traded Funds recording over $297 million in inflows.
SUI Price Forecast: On-chain metrics and technical indicators show bearish bias
SUI’s technical analysis shows a formation of bearish divergence on a momentum indicator. On-chain data suggests a bearish outlook for SUI as the long-to-short ratio is below one, and daily trading volume is decreasing.
1inch Network Price Forecast: Technical outlook suggest a rally ahead
1inch price is retesting key support levels on Tuesday after breaking above a descending trendline on Sunday. Technical outlooks suggest a rally ahead and provide a potential buying opportunity for sideline investors in the $0.261 to $0.273 range.
Crypto Today: Bitcoin, Ethereum lose gains, XRP corrects on Monday, traders brace for $400 million unlocks
Bitcoin erases 2% of its value on Monday and hovers around $67,000. Ethereum holds above $2,600, down nearly 3% on Monday. XRP trades near $0.55 as holders digest developments in lawsuit appeal and Elon Musk’s reaction to the altcoin.
Bitcoin: Will the “Uptober” rally reach a fresh all-time high?
Bitcoin rallied nearly 8% so far this week until Friday after breaking its resistance barrier, aiming for a fresh ATH. This rise in Bitcoin’s price is supported by an increase in institutional demand, which showcased a $1.86 billion inflows this week, the largest streak of inflows since mid-July.
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WHAT IS CARDANO?
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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