Cardano News Today – Cardano ADA, just like every other cryptocurrency on CoinMarketCap, has been on a roller coaster ride for the past few weeks. Ever since May when the price of Cardano touched the $0.1000 level in an epic bull run, it has been moving lower against the USD and is now almost half of that price. In our last Cardano price prediction and Cardano News, we noted that if the price of Cardano can find the bullish momentum to rise above the $0.070 level, it will reach higher levels near-term. Unfortunately, the price of Cardano hasn’t been able to surge above this level irrespective of the anticipation surrounding the activation of Cardano Shelley on the mainnet.
Cardano News Today – Cardano Shelley Update – Cardano Price Prediction 2019 – Cardano Picks Up But Remains Far From Recent Highs
The team behind Cardano has been focusing on emerging markets in a bid to ensure global adoption of the Cardano blockchain and the ADA token. While their primary focus is developing countries, they are well known in the developed world and the Cardano blockchain is seen as a worthy competitor for Ethereum. The Cardano Shelley upgrade was supposed to be the nail on the coffin but as the date for the Shelly activation grows nearer and the price of ADA is still struggling, it’s becoming clear that the Cardano Shelley upgrade may not have any significant effect on the price of ADA.
Cardano (ADA) Price Today – ADA / USD
In the beginning of trading today, the price of Cardano ADA surged against the USD along with the price of Bitcoin and many other altcoins in the market. Unfortunately, the spike didn’t last long. At the time, Cardano price prediction on Cardano news today was that ADA was going to test the $0.060 level before the end of trading today. Unfortunately, this didn’t happen. Rather than maintain the upward rise, the price of Cardano ADA started to fall against the USD. Not being able to stay above the $0.060 level dashed the hopes of reaching $0.070 anytime soon. Notwithstanding, the price of Cardano ADA performed better this morning than or did yesterday.
Meanwhile, on the other end of the continuum, Cardano Foundation announced that its Chairperson, Nathan Kaiser, had an interview with Eric MA. The details of the interview was posted on Twitter for everyone to see. It was about CoinMarketCap’s vision for the Asian cryptocurrency and blockchain market.
Cardano News Today – Cardano Price Prediction 2019 – ADA Price Analysis – Current Price Of Cardano ADA
At the time of writing, the price of Cardano ADA was $0.056716. This means that it is down by 3.75% against the USD and down by 4.18% against the price of BTC. The trading volume over a 24 hour period is $91,002,939 and the market capitalization is $1,470,480,478. It picked up from $0.055 in the beginning of trading today and went as high as $0.057 before the bears showed up and drove the price down. If the bulls are able to regain momentum, the price may move as high as $0.058 against the USD near-term.
The current price of Cardano ADA is strongly related to the price action of Bitcoin. In fact, the entire altcoin market is following the lead of their big brother, Bitcoin. So, until the price of BTC starts recovering, there is no way to determine when Cardano will recover.
What do you think about the Cardano price prediction 2019 in our Cardano news today. Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.