EOS in use...

EOS in use...

... theoretically but not practically yet. For how long?

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Cardano [ADA] surges into top-10; overtakes Tron [TRX] on the back of mainnet release

Cardano [ADA] broke into the top-10 after its massive double-digit price surge following a slew of announcements by the Cardano Foundation. The surge also pushed the coin above Tron [TRX] on CoinMarketCap. For the better part of a week, Cardano rode a bull wave and exhibited a significant 20.43 percent hike in the 7-day window. After the release of the 1.5 mainnet, the coin shot up by a whopping 15.33 percent against the US dollar to become the biggest gainer in the top-20 coins. The release was part of the concluding stages of the Byron phase of development, including an improved proof of stake protocol. This development will ensure better block storage, the inclusion of the Daedalus wallet for Linux, the Cardano testnet, and an increase of Rust tools and other features within the coin’s ecosystem. Furthermore, this update will not split the community or create a separate virtual currency, even though the update is classified as a “fork.” The surge also follows the resignation of Michael Parsons, the Cardano Foundation’s former CEO. Charles Hoskinson, the Founder of the foundation had stated that the Cardano community was “waking up” and “getting where it was supposed to go.” Other factors that may have contributed to the wild surge in Cardano’s prices include the speculation of a possible listing on the crypto exchange, Coinbase and the integration of the Ledger Hardware wallet to the Cardano Network. The Cardano Foundation also became one of the founding members of the International Association for Trusted Blockchain Application (INATBA). As a member, Cardano will help to further the progress of blockchain technology and cryptocurrency adoption within Europe. Source: Trading View On 16 March, the coin was trading at $0.0501 and shot up by 6.58 percent to $0.0534 in less than 24-hours. Later, the coin shot up to $0.0548, before market correction forces dropped the price to $0.0513. On 21 March, the coin skyrocketed by 15.2 percent to reach $0.0591. Following this rise, the coin dipped to $0.0571, before shooting up by 7.7 percent in a matter of 3 hours to reach $0.0615 by 0500 UTC on 23 March. At press time, the coin was trading at $0.0611, its highest price in over 4 months. In terms of market capitalization, Cardano broke the $1.5 billion barrier at 1200 UTC on 22 March, which saw the market cap shoot up by 6.9 percent in 24 hours. The coin surged even further, recording a peak valuation of $1.59 billion, at 0530 UTC on 23 March. At press time, Cardano was valued at $1.58 billion, ahead of Tron by over $70 million. ZBG took the top spot in terms of ADA trade volume, accounting for 28.58 percent via the trading pair ADA/USDT. Other notable exchanges with high Cardano volumes were Binance, UPbit, and Huobi Global. The post Cardano [ADA] surges into top-10; overtakes Tron [TRX] on the back of mainnet release appeared first on AMBCrypto.

Cardano Continues to Surge After 1.5 Mainnet Release, Up 15% Over 7 Days

After the successful release of its 1.5 mainnet, Cardano (ADA) has broken out from its normal trading range, reaching 2019 highs. It appears that after consistently meeting development and restructuring the Cardano Foundation that cryptocurrency enthusiasts are beginning to take notice. Recent Trading Activity Previously, Cardano was trading between $0.0363 and $0.0534 over the last three months. Within hours of the 1.5 release, the upper bound of this range was once again tested with Cardano jumping from $0.0502 to $0.0537, a 7 percent increase. Within 48 hours ADA broke out of its normal trading range and hit $0.0549, triggering a round of sell-offs: Once these sells were exhausted, within 14 hours the price of Cardano returned to previous resistance around $0.0530, shortly before breaking through this resistance to reach 2019 highs of $0.0587; ADA has not traded at these prices since November of 2018. That said, the coin is still only trading at a fraction of its January 2018 all-time highs of $1.33. The coin is currently trading at roughly 1/22 of these highs now. Factors Behind the Movement What appears to be the largest factor behind the price movement is the successful release of Cardano’s 1.5 mainnet. The release represented the final stages of the project’s “Byron” phase of development, which notably included an intermediary consensus protocol for the projects move to “Ouroboros Genesis,” an improved proof-of-stake consensus protocol. The update also included a number of other improvements, mostly around the project’s primary cryptocurrency wallet, Daedalus. Other factors influencing the price could be the delayed impact from restructuring the Cardano Foundation. Michael Parsons, the former CEO the Cardano Foundation, resigned following months of tumult between IOHK, Emurgo, and the Foundation in December. Between the three branches of Cardano’s government, the Foundation was tasked with “driving adoption, releasing news, conducting evangelism, and marketing the project.” However, the community claimed that the Cardano Foundation failed in most of its responsibilities, with one petition claiming it “failed to build and lead a competent organization.” Cardano founder Charles Hoskinson and Emurgo CEO Ken Kodama agreed. In response to the resignation, Hoskinson said the community is “waking up the Foundation and getting it where it was supposed to go,” indicating the Cardano is ready to more actively participate in community building and marketing. Three months later, perhaps ADA is seeing the benefits of a stronger Cardano Foundation and better marketing. Overall, it appears that Cardano has been focused on the long-term viability of the project. Beyond mere marketing, the project seems to prioritize improving the utility of its blockchain and the soundness of its technology. Now, it looks like it is paying off. The post Cardano Continues to Surge After 1.5 Mainnet Release, Up 15% Over 7 Days appeared first on CryptoSlate.

Cardano (ADA) Spikes 13.7% in 24 Hours with Mainnet Upgrade Boost

ADA, the native token of Cardano’s open-source blockchain project, has jumped 13.7-percent since Thursday’s mid-session. At 1330 UTC, the ADA-to-dollar rate was trading at 0.058, up 7.33-percent on a 24-hour adjusted timeframe. Before that, the pair went through a frictionless upside move from an intraday low point near 0.052. After the bull flag formation, it walked horizontally for a brief during the early Asia session but picked up bullish momentum ahead of the European market open. Have a look: Speaking of volumes: the ADA token changed hands worth $122.49 million in the last 24 hours, maximally against Tether’s stablecoin USDT, Bitcoin The post Cardano (ADA) Spikes 13.7% in 24 Hours with Mainnet Upgrade Boost appeared first on CCN

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