Cardano Investors Sell Off In Bulk As ADA Sheds 32%, What Hope Is There For Cardano?

Cardano News Today – Altcoins are likely to increase in value when Bitcoin surges. Similarly, a dip of the largest crypto by market capitalization can cause a fall in the prices of other digital currencies. The recent Bitcoin plunge hit Cardano (ADA) amongst other altcoins. The Cardano (ADA) dips 32.7% week-to-date. This plunge has triggered a sell-off by Cardano investors.

The Cardano development team is working hard to improve its system. The developers are set to make Cardano a rival platform to Ethereum. Through research and peer-reviewing of code supporting Cardano, they plan to improve the platform. The team affirms its readiness to perfect Cardano and aid the platform to displace Ethereum from being the king of smart contracts.

Cardano Latest News – Cardano Price Prediction 2019 – Cardano News Today – The New Yoroi Update

With the return of the bears, the price of ADA is down by 32.7%. However, the new Yoroi wallet update may not provide enough support to the cryptocurrency. EMURGO, the official partner of Cardano, works constantly on updating the Yoroi wallet with enhanced features. EMURGO releases the new versions of the light Cardano ADA wallet when they are ready for use.

The Yoroi wallet is secure, fast, and simple to use. The recent version of the wallet runs from a sandbox with API’s which helps to fast track developments. Cardano Latest News disclosed that the new Yoroi update has several improved features in addition to its guaranteed security. Some of the enhancements on the web-based wallet include:

A hide balance option

Addition of Cardano payment URLs

Indonesian language

The appearance of a new warning message when the connection to the platform’s server fails.

Cardano Price Prediction – Cardano News Today – Cardano Latest Update – ADA May be Listed on Coinbase

Satisfactory experimentation and provision of quality is the top priority of the Cardano team. Consequently, there is a delay in phase transition but the Shelly test net is currently live. Following this development, the developers search for faults as they nit-pick its code. However, ADA supporters are excited at its transition from centralization to decentralization. The phase transition is crucial to the cryptocurrency. It can favorably position the coin for listing at Coinbase. Though fading, the fame of the “Coinbase Effect” can benefit ADA.

Cardano Price Analysis – Cardano News Today – Cardano Price Prediction 2019 – Current Bearish Trend of ADA

In the last two weeks, ADA plunged by 32.7%. The bearish run is affecting the coin as it closed below the support level at 6 cents. This market condition may be a reaction to April 7 week-ending over-extension. Besides, it is likely to be a consequence of sell pressure experienced in the better part of 2018.

Cardano Price Prediction suggests a bullish run in the long term. Buyers may take advantage of the bullish breakout to trade as a high is a selling opportunity. Like other cryptos, ADA is expected to record new lows in the continuation phase of the bear trend if Bitcoin continues to dip. However, such a scenario can only occur if the breakout is strong enough to drive the prices below 3.5 cents or the lows experienced in the later part of December 2018.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.0401.35%

Bears of 2018 may return if there is a spike that may exceed those of June 30 week ending at 2 billion. Consequently, ADA may fall below 3 cents.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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