Cardano News Today – Cardano ADA Starts Recovering But Stalls Above $0.1200 Level, While Hoskinson Talks About Burning ADA – July 17th, 2020 

  • ADA’s Recovery Stalls Above the $0.1200 Level But the Bulls Aren’t Out of the Game Yet 
  • Charles Hoskinson Talks About the Consequences of Burning ADA 

Cardano News Today – After an aggressive surge above the $0.1360 level, the Cardano ADA token corrected reaching $01170 lows. Yesterday, the token managed to gain momentum moving above the $0.1200 level toward the end of trading. While the recovery is still taking place, the token is stalling above the $0.1200 level. This was where the bulls started to lose momentum against the USD but there is still a strong chance that the token will continue recovering after a while. The bulls will most likely gain some momentum after this minor correction. Moving above the resistance at $0.12800 might give ADA the momentum it needs to test more recent highs.

Cardano ADA News Today – Cardano ADA Has What it Takes to Retest the $0.1300 Level

At the time of writing, the price of Cardano ADA was $0.123788. It was up by 0.65% against the USD and up by 0.71% against Bitcoin BTC. The trading volume over a 24 hour period is $328,217,291 and the market capitalization is $3,209,470,901. Cardano ADA is still the 6th largest cryptocurrency on CoinMarketCap thanks to its 275% Surge year to date. On the 13th of July, Cardano ADA reached a yearly high of $0.1360. It found strong resistance at this level and started correcting lower. It has been unable to retest this level since then but this doesn’t mean that the bulls are out of the market yet. The token still has a lot of potential. So, there is a strong chance that it will make even more significant progress before the end of the year.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$2.36

In other news, Cardano’s founder, Charles Hoskinson recently talked about the series of cryptocurrency hacks that have been happening on Twitter. Twitter accounts of some of the most prominent public figures on Twitter have been hacked and these hackers are doing fake cryptocurrency giveaways. Before the entire community became aware that it was a scam, the hackers had already made away with over $120, 000 in cryptocurrencies. This is currently one of the biggest cryptocurrency heists on Twitter.

Hoskinson encouraged ADA holders never to give out their private key on any account. He said that as soon as hackers get a hold of a user’s tokens, it cannot be recovered remotely. The only way for the owner to get it back is if the hacker willingly returns it.

The Cardano Foundation has encouraged everyone who notices a scam to report the account as soon as they notice it. A Telegram channel has been dedicated to reporting ADA related scams on Twitter or any other social networking site.

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