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Cryptocurrency

Cardano bazooka by 10%

Cardano was trading at $0.169425 01:11 GMT on Thursday, up by 10.08%, it’s largest one-day percentage surge since Nov. 28.

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Cardano has just broken a strong critical support level of $0.15 amid a buying spree seen by crypto investors, thereby pushing ADA in gaining 10% for the day.

  • Cardano was trading at $0.169425 01:11 GMT on Thursday, up 10.08% in the last 24 hours. It was Cardano’s largest one-day percentage surge since Nov. 28.
  • Impressive gains seen lately in Cardano pushed its market capitalization up to $5.2 Billion or 0.84% of the total cryptocurrency market value. At its highest, Cardano’s market value stood at $23.9 Billion.
  • In the past one week, Cardano has appreciated by 13.63%. The volume of Cardano traded in for the day to the time of writing this publication was $990million or 0.54% of the total volume of all crypto market. Cardano traded in a range of $0.1349 to $0.1706 in the past one week.
  • However, at the present price, Cardano has lost about 87.45% from its all-time high of $1.35 set on January 4, 2018.

READ: Investors are selling Gold ETF for cryptocurrency

READ: ChainLink, now most valuable DeFi Crypto by market value

What this means

Cardano (ADA) lately has been tipped to outperform on the bias that it’s headed towards its smart contract launch last month, leading to a significant amount of applications built on Cardano by this time 2021. This means that more developers will see it as an attractive medium for building their desired apps.

READ: UniSwap all time trading volume surpasses $50 billion

What you should know

  • Cardano is a type of blockchain that permits people to receive and send funds.
  • ADA coin is the name is the cryptocurrency.
  • It uses the Cardano blockchain and it also allows people to design smart contracts just like Ethereum.

READ: Only 2.43 million Bitcoins left for mining

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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    Cryptocurrency

    Bitcoin is on fire, breaks above all-time high

    The flagship crypto traded at $62,645.26 with a daily trading volume of about $60 billion.

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    Bitcoin on high demand, hits 2-year high, trading $17,000

    Bitcoin prices ascended to a record high on Tuesday, hitting another milestone at above $62,000, a move that many reaffirm to be a bullish trend in the cryptoverse and one that can make other digital assets surge.

    At the time of writing this report, the flagship crypto traded at $62,645.26 with a daily trading volume of about $60 billion. Bitcoin is up 2.99% for the day. The world’s most popular crypto now has a market value of about $1.17 trillion.

    Adding credence to the strong bullish run in play is data retrieved from Glassnode pointing to the fact that holders of the flagship crypto are selling less, as Bitcoin deposits on exchanges hit a 30-day low.

    BTC Number of Exchange Deposits (7d MA) just reached a 1-month low of 2,837.702.

    READ: Why Bitcoin might likely hit $100,000 soon

    READ: Bitcoin produces 4 billionaires worth at least $3 billion each

    More details later…

    Sigma Pensions

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    Cryptocurrency

    Why Bitcoin might likely hit $100,000 soon

    The 12-month BTC price forecast was more evenly distributed, though a majority of respondents see prices above $50,000.

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    From late February to the end of March, currency.com conducted a survey among its users to get their take on Bitcoin, which has skyrocketed about 1500% from where it was a year ago.

    The Crypto exchange surveyed 1,572 respondents on their exposure, perspective, and outlook of digital assets. The crypto-asset platform revealed that about 20% of its customers expect the price of Bitcoin to hit at least $100,000 or above in the next 12 months. 54% of the respondents predict the price of the world’s most popular cryptocurrency will hover at $50,000-$100,000 in the same period.

    The survey also revealed that 2% of customers indicated that they already have $1 million or more stashed in Bitcoin. However, nearly 27.2% were sceptical about whether they can achieve this goal.

    READ: 1 Bitcoin will buy you a house in Nigeria’s rich suburb

    The 12-month BTC price forecast was more evenly distributed, though a majority of respondents see prices above $50,000.

    Specifically, 40% keep in their portfolio not only Bitcoin, which makes up about 50% of the entire crypto market, but also altcoins.

    READ: Ripple scores early legal victory, XRP breaks above $1 for first time in 3 years

    When asked whether the firm believes the price prediction is accurate, Currency.com’s head of strategy, Vitaly Kedyk, said:

    Sigma Pensions

    “Over the course of 2020, we have seen interest in crypto gain mainstream attention and validation following take-up by large institutional investors. We expect this trend to continue in 2021 with greater diversification across altcoins.”

    READ: Meet the billionaire twins who bought $10m worth of Bitcoin when it still sold for $8

    Bitcoin believers already say that the biggest cryptocurrency has shifted from the fringes of retail speculation towards embrace by major investors. The total market capitalization of cryptocurrencies tops $2 trillion, mostly spurred by rising institutional demand. Bitcoin’s market cap makes up more than half of that figure and it is now worth more than $1 trillion.

    That being said, a significant number of its users are also diversifying their holdings in the exchange beyond investing in crypto, into traditional financial assets like equities, indices, and commodities with a token that mirrors the value of each asset.

    Stanbic 728 x 90
    Continue Reading

      





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