Crypto analyst Nick of the Cheeky Crypto YouTube channel has provided an ultra-bullish prediction for Cardano (ADA). The analyst also outlined factors that he believes could drive Cardano’s price to such heights.  

Cardano Could Rise To $38 At Some Point

In a recent video on the Cheeky Crypto YouTube channel, Nick mentioned that Cardano could rise to $38 at some point in the future, although he admitted that it won’t be anytime soon. He highlighted Cardano’s technological advancements as one factor that could drive the crypto token to such heights.

Related Reading

The crypto analyst further claimed that, despite criticisms about Cardano, the network is well-positioned to become one of the leading chains because it boasts a technology built with the future in mind. As such, he believes that ADA has a good chance to stand the test of time and rise to $38 no matter how long it takes to attain such a price target. 

Interestingly, crypto expert Jason Appleton believes that Cardano could come close to this price target of $38 in this bull run. He once predicted that the crypto token would reach $32 in this market cycle. He claimed this price level is attainable in the “most prime of conditions by the peak of this bull market cycle.”

Meanwhile, Nick highlighted the range between $5 and $12 as his “conservative” price targets for Cardano. He believes that the crypto token could rally to such heights soon enough, considering that altcoins are well primed for significant gains, especially given the run that Bitcoin and, more recently, Ethereum have had. 

He added that the news around the Spot Ethereum ETFs could trigger these moves for Cardano and other altcoins. Meanwhile, Nick is also optimistic that Cardano will soon have its own ETF following the approval of the Spot Ethereum ETFs. The launch of a Cardano ETF is another factor he believes could trigger such rallies for the crypto token. 

Patience Remains The Name Of The Game

Crypto analyst Dan Gambardello, the founder of Crypto Capital Venture, suggested in a recent X (formerly Twitter) post that patience is key as ADA holders await a significant rally from the crypto token. He reassured investors that Cardano would still have its bull run in this market cycle.

Related Reading

The analyst noted that Cardano was in a similar situation in the last cycle when it was down 90% from its all-time high (ATH). However, things turned around in the twinkle of an eye with the crypto token going on to enjoy a 3,000% price gain, rising from $0.10 to $3. He believes that Cardano could make such a run or even better in this cycle, noting that Cardano is more “secure, decentralized, and scalable,” this time around. 

ADA bears take control of price | Source: ADAUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Cardano Price Prediction: Crypto Pundit Forecasts 8,300% Rally To $38, Here’s When appeared first on Crypto Breaking News.

According to Odaily, Chris, the co-founder of the Ghost Fund DAO in the Cardano ecosystem, has raised concerns about market manipulation. He alleges that the TON team has artificially inflated their market value data through aggregators such as CoinMarketCap and Coingecko. He has called for the team to be held accountable and face penalties for their actions.

Chris made these allegations on platform X, where he expressed his concerns about the integrity of the cryptocurrency market. He believes that such manipulative practices undermine the trust and transparency that are crucial to the functioning of the crypto market.

The co-founder of the Ghost Fund DAO has not provided any specific details about the alleged manipulation. However, his call for accountability and penalties indicates a growing concern about market manipulation in the cryptocurrency industry. This incident underscores the need for stricter regulations and transparency in the crypto market to prevent such practices.

ADA faces critical support at $0.458, with potential further decline to $0.420 if this level fails.

Technical analysis shows ADA’s bearish trajectory, trading below key EMAs and Fibonacci levels.

On-chain data indicates declining user engagement and new entrants not retaining ADA, signaling bearish sentiment and potential price drops.

Cardano (ADA) is currently facing crucial support identified at $0.458. Should this support fail, prices could drop further to around $0.420. On the other hand, resistance levels are noted at $0.525 and $0.592; surpassing these could indicate a shift to a bullish trend.

Technical analysis on the 4-hour chart reveals ADA’s bearish trajectory. The cryptocurrency is trading below both the 100 EMA at $0.464 and the 200 EMA at $0.472, indicating bearish momentum in the short to medium term. Additionally, the price remains under the 0.618 Fibonacci level at $0.458, a vital support area. The RSI is currently at 42.57, below the neutral mark of 50, signifying strong selling pressure. A continued decline in RSI could signal further price drops.

On-chain data shows a reduction in user engagement and short-term trading activity, negatively impacting Cardano’s market outlook. The analysis of daily active addresses indicates a downward trend, suggesting decreasing user participation and transaction activity. This reduction is a bearish signal, reflecting waning interest in the Cardano network.

New entrants into the ADA ecosystem are not retaining their holdings for long. Instead, they are selling quickly or using their coins in ways that result in zero balances. This behavior indicates a lack of long-term commitment from new users, which is bearish, as sustained price stability and growth depend on investors holding onto their ADA. In the past week, new addresses decreased by 33.53%, active addresses by 9.34%, and zero balance addresses by 28.32%, reinforcing the narrative of declining interest and participation in the ADA network.

Read also:

MetaMask and Blockaid Join Forces to Bring Privacy-First Alerts for Users

XRP Price Teeters Near Critical Zone: Potential for Recovery?

Dogecoin Faces Critical Test at $0.0900: Will It Hold?

Top Analyst Projects Cardano’s Momentum Towards $0.70

Critical Crossroads: Ethereum’s Bearish Trend Hinges on 50 EMA

The post Cardano Critical Support Alert: Will ADA Break $0.525? appeared first on Crypto News Land.

According to U.Today, Charles Hoskinson, the founder of Cardano, recently disclosed that he had considered using the Clojure programming language to build the Cardano blockchain platform. In a discussion, Hoskinson offered an intriguing insight into the early decision-making process that led to the establishment of Cardano. He highlighted a crucial point: the decision between using Clojure, a dynamic and functional Lisp dialect, and Haskell, a statically typed functional programming language. Ultimately, the choice fell on Haskell, driven by the potential of Cloud Haskell and the aspiration to utilize Liquid Haskell and Agda.

Hoskinson shared this information during a conversation with Ktorz, the technical director of the Cardano Foundation. Both demonstrated a deep understanding of various programming languages, with a particular interest in Lisp, a dialect of which is Clojure. Despite his initial interest in Clojure, Hoskinson revealed that he chose Haskell over Clojure due to Cloud Haskell and the potential use of Liquid Haskell/Agda. Cloud Haskell provides a distributed computing framework that aligns well with the requirements of a blockchain platform, while Liquid Haskell and Agda offer advanced capabilities for formal verification and ensuring code correctness.

Reflecting on the past, Hoskinson pondered on the path that might have been if Cardano had been built with Clojure. He envisioned a Cardano built entirely on Clojure, employing ClojureScript for client-side development and ClojureSpec for specifications and testing. However, Hoskinson's reflections are not filled with regret but with thoughtful consideration of what could have been. He mused that it could have been an 'amazing journey' to write everything in Cardano using ClojureScript and ClojureSpec.

According to CoinDesk, Brad Garlinghouse, the CEO of Ripple, has predicted the inevitable approval of exchange-traded funds (ETFs) for XRP, Solana, and Cardano, despite significant regulatory hurdles. He made these comments following the approval of spot bitcoin ETFs and progress on Ethereum's ether ETFs. Garlinghouse believes that the approval of these ETFs is just a matter of time.

Garlinghouse criticized the U.S. Securities and Exchange Commission (SEC) for its unclear crypto regulations, emphasizing the need for better regulatory clarity in the U.S. He expressed his frustration with the perceived lack of regulatory clarity from Washington, particularly from SEC Chair Gary Gensler. Garlinghouse pointed out that Gensler has been called to Congress and has refused to answer whether ether is a security, despite insisting that the rules are clear and do not need updating.

Garlinghouse also highlighted the recent progress of ether ETFs, which have seen key filings approved by the SEC. However, final approval is still required before they can begin trading. Cathie Wood, the CEO of ARK Invest, has also commented on these developments, stating that the approval of ether ETFs is due to crypto becoming an election issue.

Despite the regulatory challenges, Garlinghouse is optimistic about the future of crypto ETFs. He acknowledged that there will be a significant regulatory approval process, but he views these as 'speed bumps' rather than insurmountable obstacles.

Garlinghouse also discussed Ripple's hiring trends, revealing that 75% of the company's hiring last year was outside the U.S., and this year it's about 60%, with major offices in London, Geneva, and Singapore. These trends reflect Ripple's focus on regulatory clarity and customer locations. He concluded by emphasizing the importance of getting the regulatory posture right in the United States.

Can Cardano, once hailed as the future of blockchain, recover from its steep decline, or has ADA’s journey from promise to disappointment marked the end of its ambitious dreams?

Table of Contents

How the story started

The current state of Cardano’s ecosystem

Why is Cardano lagging?

What does the public sentiment say?

What do the data and experts say?

The road ahead

How the story started

Cardano (ADA) started with big dreams. Created by Charles Hoskinson, one of Ethereum’s (ETH) co-founders, it aimed to tackle the issues of scalability, sustainability, and interoperability that troubled earlier blockchains like Bitcoin (BTC) and Ethereum. Using a proof-of-stake (PoS) system called Ouroboros, Cardano promised a greener and safer blockchain.

Cardano’s journey had some notable milestones. The Alonzo upgrade in September 2021 brought smart contracts to the network, and the Vasil hard fork in 2022 aimed to boost scalability. 

These upgrades positioned Cardano as a potential heavyweight in the decentralized finance (DeFi) arena, with applications like non-fungible tokens (NFTs) and decentralized exchanges (DEXs) in tow.

Yet, despite these advancements, Cardano has struggled to keep its momentum. ADA reached its peak price of $3.10 in September 2021, but as of May 29, it’s trading around $0.46—an 85% drop. 

ADA lifetime price chart | Source: CoinMarketCap

This decline has sparked speculation, including from popular crypto influencer Ben Armstrong, also known as BitBoy Crypto. 

In an April 6 video, Armstrong compared Cardano’s performance with other networks, arguing that they are “blowing up and getting a lot of recognition” while the average person “can’t name three projects on ADA.”

Armstrong attributed this to better price action and liquidity on other chains, which attract more usage and institutional money. He noted that Cardano’s liquidity is largely locked up in staking, making it less attractive for big investors. 

According to Armstrong: “The markets are telling us very clearly – look at where the big money is and look at where it’s going… ADA is getting left out.”

In response, Cardano founder Charles Hoskinson expressed disappointment, stating that Armstrong “was always friendly in person to me” and found it “sad to see him go down this road,” but he still wished Armstrong well and hoped for the best.

Well @BenArmstrongsX was always friendly in person to me. Sad to see him go down this road. Wish him well and hope for the best. https://t.co/b9lFeO70oe

— Charles Hoskinson (@IOHK_Charles) April 7, 2024

What has led to this decline, and is Cardano really dead? Let’s dive in and find out.

The current state of Cardano’s ecosystem

To better understand Cardano’s position, let’s compare it with its notable competitors: Ethereum, Binance Smart Chain (BNB), and Solana (SOL) over the last 30 days as of May 29.

Dapp development and adoption

Cardano’s decentralized application (dApp) ecosystem is expanding, with 54 active dApps and 132 smart contracts. However, these numbers seem modest when compared to Ethereum’s 4,589 dApps and over 177,000 smart contracts, as well as Binance Smart Chain’s 5,329 dApps and over 79,000 smart contracts. 

Solana also outpaces Cardano with 269 dApps and 1,820 smart contracts. The limited number of dApps and smart contracts on Cardano impacts its attractiveness to both developers and users.

For developers, a smaller ecosystem means fewer opportunities for collaboration, support, and potential users. This can be a deterrent, especially for those looking to launch new projects quickly and efficiently. 

For users, a limited selection of dApps translates to fewer services and functionalities available, which can affect the overall user experience.

To illustrate, consider Ethereum’s DeFi ecosystem, a major draw for developers and users. Projects like Uniswap (UNI), Aave (AAVE), and Compound (COMP) have established themselves as leaders in the space, contributing to Ethereum’s dominance. 

Meanwhile, Solana’s rapid growth can be attributed to its high-performance capabilities, NFT ecosystem, prevalence of meme coins, ability to enable lightning-speed transactions, and low costs. 

Cardano, while promising similar capabilities with its Hydra scaling solution, has yet to achieve comparable adoption. The limited number of dApps and smart contracts on Cardano affects the network’s ability to compete with more established ecosystems.

Cardano’s TVL and market cap to TVL ratio analysis

Cardano’s total value locked (TVL) stands at $255.57 million as of May 29, which is far lower compared to Ethereum’s $65.255 billion, Binance Smart Chain’s $5.52 billion, and Solana’s $4.84 billion, reflecting Cardano’s struggle to attract and retain substantial DeFi activity.

Interestingly, Cardano’s TVL has experienced a sharp decline of around 50% in the last two months, dropping from $490 million in March, suggesting a loss of confidence among investors and users.

Cardano TVL chart | Source: DeFi LIama

The market cap to TVL ratio further provides a dreadful overview into Cardano’s position. Cardano’s ratio is at 62.45, which is far higher than Ethereum’s 6.95, BSC’s 16.63, and Solana’s 16.09. 

A high market cap to TVL ratio often indicates that a blockchain’s market valuation is much higher than the value locked in its DeFi protocols, suggesting that the market may be overvaluing the asset relative to its actual DeFi usage.

In simple words, speculative investments may be driving up Cardano’s market cap without corresponding growth in DeFi applications and user activity.

You might also like: Is Polygon a sleeping giant or a sinking ship? Analysis of MATIC’s next move

User engagement and NFT activity

Cardano’s user activity, measured by unique active wallets (UAW), stands at 40,030. This figure pales in comparison to Solana’s 5.32 million UAW, Binance Smart Chain’s 4.09 million UAW, and Ethereum’s 2.76 million UAW. 

High user activity on Ethereum and Binance Smart Chain can be attributed to their extensive ecosystems, which offer a wide range of DeFi applications, NFTs, and more, providing users with varied engagement opportunities.

For NFTs, Cardano’s volume is $1.68 million, lower than Ethereum’s $442.91 million and Solana’s $73.21 million. Binance Smart Chain, although leading in dApp volume, also trails behind Ethereum in NFT volume. 

The low NFT volume on Cardano points to limited marketplace activity and user interest in trading and creating NFTs on the platform.

Transaction and volume comparison

Transaction volume is another critical metric for evaluating blockchain performance. Cardano processed approximately 409,300 transactions, while Ethereum managed 7.39 million, Binance Smart Chain 21.86 million, and Solana a staggering 235.11 million. 

Meanwhile, examining the overall dApp volume, Ethereum dominates with $208.21 billion, Binance Smart Chain follows with $21.71 billion, and Solana with $3.55 billion. Cardano’s dApp volume of $173.32 million is relatively small, indicating fewer financial activities and interactions within its ecosystem.

Why is Cardano lagging?

Cardano’s ecosystem faces several critical challenges that have caused it to lag behind its main competitors. Let’s break them down one by one.

Development delays and execution issues

Cardano has often been criticized for its slow and methodical approach to development. While this rigorous, peer-reviewed process ensures high-quality output, it delays the deployment of key features. 

For example, Cardano introduced smart contract functionality only in September 2021, despite launching several years ahead of competitors like BNB Chain, Solana, and Polygon (MATIC), which have already onboarded millions of users through this use case. 

Cardano’s late arrival to the smart contract party means it faces an uphill task against competitors hindering its ability to attract and retain users. As a result, its ecosystem has struggled to gain traction in the face of more established and dynamic platforms.

Inadequate marketing and community engagement

Cardano’s marketing efforts and community engagement have been less effective than those of its competitors. The forums and online communities dedicated to Cardano are often less active, with fewer discussions about new and innovative projects. 

For instance, the Solana community is vibrant, with frequent posts about unique developments, which keeps the ecosystem lively and engaging. 

In contrast, Cardano’s online presence is perceived as more stagnant, focusing on old narratives rather than new advancements. Effective marketing is crucial for attracting new users and retaining existing ones, something Cardano needs to improve.

Competition from robust ecosystems

Cardano is up against well-established ecosystems that have already captured a large market share. Ethereum, for example, is not only the pioneer of smart contracts but also continues to lead in terms of developer activity and project launches. 

The Ethereum-centric programming language, Solidity, has gained immense popularity, making it the go-to choice for blockchain developers. This has resulted in a robust and thriving ecosystem with a wide array of decentralized applications.

Other competitors, including Binance Smart Chain, Avalanche (AVAX), and Polygon, have gained traction by introducing support for the Ethereum Virtual Machine (EVM). 

EVM compatibility allows developers to deploy native apps seamlessly across these networks, lowering the entry barriers for new projects. 

Cardano, however, is still on the path to supporting EVM, having recently launched the solution on testnet. Until full EVM support is operational, developers need to learn Cardano’s native programming language, Haskell, and Plutus’s script from scratch. This onboarding experience hasn’t been ideal, increasing the barrier for developers to migrate from other thriving ecosystems to Cardano. 

As a result, the slower adoption and fewer offerings in Cardano’s ecosystem make it challenging to compete with these well-established and more developer-friendly platforms.

Limited real-world use cases

Despite its technological progress, Cardano has struggled to showcase real-world use cases that can drive large-scale adoption. 

The blockchain space is highly competitive, and without compelling applications that demonstrate the practical benefits of Cardano’s technology, it becomes challenging to attract new users and developers. 

Ethereum, for instance, has numerous high-profile projects and collaborations that highlight its versatility and utility in various industries, from finance to gaming.

What does the public sentiment say?

The sentiment around Cardano on Reddit is a mixed bag, reflecting both optimism and frustration among long-time holders and new observers. 

A prominent holder since 2017 pointed out that the Cardano forum appears dead, with a noticeable lack of excitement and innovative discussions. The core concern is the absence of real-life use cases and direction for Cardano, leaving many to wonder about the technology’s practical applications.

Despite this, another user countered by discussing the ongoing developments within the Cardano ecosystem. They noted that much of the conversation has shifted to Twitter (X) and in-person meetups, where new programming languages like Aiken, Opshin, and Helios are being introduced. 

The user even mentioned advancements in scalability with zkfold, zeko, and zk primitives, along with the construction of an account model by the Optim team. Projects are also utilizing Plutus v2+ to enhance smart contracts, indicating a strong, albeit less visible, development activity.

Meanwhile, some argued that venture capitalists and financial institutions have vested interests in seeing Cardano fail because of its fair token allocation and decentralization, which threatens traditional profit models, fueling a belief in Cardano’s long-term potential.

On the flip side, skepticism persists among those disheartened by Cardano’s slow progress and low liquidity on decentralized exchanges. These users are wary of the lack of rapid development and immediate use cases, contrasting with the high expectations set years ago.

What do the data and experts say?

A comprehensive analysis by AlphaQuest examined over 12,000 cryptocurrency projects and found that nearly two-thirds of these projects have died. 

Among the top 10 ecosystems with the most defunct coins, Cardano ranks prominently, with 74% of its projects becoming inactive or ceasing to exist. This high failure rate reveals deep-rooted systemic issues, such as inadequate liquidity, low trading volumes, and insufficient developer engagement. 

For instance, 93% of dead coins suffered from low liquidity or trading volume, indicating a severe decline in investor interest.

Meanwhile, the volatility and market conditions in the crypto space have further exacerbated these challenges. Major collapses, like those of Terra and FTX, had led to the demise of numerous projects. 

Specifically, after the Terra crash, 35% of crypto projects were deemed defunct. This instability also affected Cardano, which saw a considerable portion of its projects fail during these turbulent times. 

Amid this, institutional confidence in Cardano has also been shaken. Grayscale, a leading crypto asset management firm, recently removed Cardano from its Digital Large Cap Fund as part of its quarterly rebalancing. 

At the end of the day on 4/3/2024, Grayscale Digital Large Cap Fund’s Fund Components were a basket of the following assets and weightings. As a result of the rebalancing, Cardano $ADA has been removed. https://t.co/o5jJz3NKs0$BTC $ETH $SOL $XRP $AVAX (3/6) pic.twitter.com/qVymu05BKw

— Grayscale (@Grayscale) April 4, 2024

Although the firm did not explicitly state the reasons, this move suggests a declining confidence in ADA’s performance and potential. 

Grayscale’s decision to retain other assets like BTC and Solana SOL while dropping ADA suggests a shift in institutional preference towards more promising and stable assets.

The road ahead

Despite the data showing that Cardano is lagging behind its competitors, declaring it “dead” might be premature. While the road ahead is challenging, Cardano’s community could spark a renaissance. 

Will Cardano rise from the ashes and redefine its path, or will it fade into obscurity as another ambitious project that couldn’t keep up? Only time will tell, but the story of Cardano is far from over.

Cardano (ADA) holders have experienced a tumultuous week as the crypto currency’s price continues to slide, even as interest in decentralized finance (DeFi) within its ecosystem rises. Cardano’s decentralized exchange (DEX) daily volume has soared, surpassing 23 million ADA, highlighting a growing engagement in DeFi. However, this increased activity comes amidst a backdrop of declining total value locked (TVL) and other concerning indicators that suggest ADA holders might be in for a rough ride.&middot

For the full story, head over to TheCurrencyAnalytics.com.

Ripple CEO Brad Garlinghouse predicts the imminent launch of XRP, Solana, and Cardano ETFs.

Garlinghouse hints at the possible regulatory hurdles ahead of the ETF approvals, similar to those for Bitcoin and Ether.

The CEO slams the regulatory challenges prevailing in the United States, reflecting on the ambiguous status of ETH.

Ripple CEO Brad Garlinghouse has predicted the imminent launch of XRP, Solana, and Cardano exchange-traded funds (ETFs) following the SEC’s recent approval of Ether ETFs. Reinforcing his optimism, he remarked, “It’s just a matter of time.”

Acknowledging the multiple delays and regulatory hurdles faced before the SEC approval of both Spot’ Bitcoin and Ether ETFs, Garlinghouse anticipated similar challenges for other ETFs. However, he characterized these obstacles as mere “speed bumps,” adding, “I think it’s just a matter of time, and it’s inevitable that there’s gonna be an XRP ETF, there’s gonna be a Solana ETF, there’s gonna be a Cardano ETF, and that’s great.”

In an interview, the Ripple CEO stated that the platform would “certainly welcome” XRP ETFs. He also discussed the potential launches of multiple ETFs based on different cryptocurrencies, noting that it would “diversify the risks” for investors.

In a discussion, Garlinghouse criticized the regulatory uncertainties prevailing in the U.S. Citing the ambiguity surrounding the status of Ether, Garlinghouse said,

“Gary Gensler has been called to Congress, and when asked if Ether is a security, he won’t answer the question. Yet, he insists that the rules are very clear and don’t need updating.”

Following the Ether ETF approval, experts have speculated on the potential launch of multiple ETFs, particularly XRP and SOL ETFs. Analyst Geoffrey Kendric from Standard Chartered has forecasted the introduction of XRP and Solana ETFs after 2025.  

The post Garlinghouse: XRP, Solana, Cardano ETFs ‘Inevitable’ Following Ether Approval appeared first on Coin Edition.

Cryptocurrency investment has become a popular topic among both seasoned and novice investors. With the potential for significant returns, the crypto market offers a unique opportunity for those willing to navigate its volatility. In this article, we’ll explore three cryptocurrencies—Retik Finance, Solana, and Cardano—that show tremendous potential for 5000% returns. Let’s dive into why these coins are worth considering and why you should buy now before the hype sets in.

Retik Finance (RETIK)

Retik Finance (RETIK) is a pioneering force in the decentralized finance (DeFi) sector, known for its innovative approach and strong community engagement. Founded on principles of decentralization, transparency, and inclusivity, Retik Finance aims to democratize access to financial services. One of the key factors driving the rapid ascent of Retik Finance is its commitment to cutting-edge technology. The platform offers a suite of DeFi products, including smart crypto payment gateways, AI-powered peer-to-peer lending, and multi-chain non-custodial wallets. These features not only enhance user experience but also ensure security and efficiency in financial transactions. The recent launch of Retik Finance (RETIK) on multiple centralized exchanges marked a significant milestone. Within hours of its debut, the market capitalization of RETIK soared to nearly $3 billion, and the token price reached an all-time high of $3—representing a 20x increase from its launch price and a 100x surge from its presale price. By expanding its reach to a broader audience of investors and traders, Retik Finance aims to enhance liquidity and accessibility, facilitating seamless onboarding for new users. This strategic move bridges the gap between DeFi and traditional finance, providing users with familiar and trusted trading interfaces. The successful launch on Uniswap and other exchanges has laid a strong foundation for future growth. With the introduction of innovative solutions like the Retik DeFi debit card, Retik Pay, and the Retik Wallet, the platform is likely to attract more users and investors, strengthening RETIK’s long-term growth potential. As the adoption of DeFi solutions increases, the value of Retik Finance could see explosive appreciation, making it a prime candidate for 5000% returns.

Solana (SOL)

Solana stands out in the crypto world for its unparalleled scalability and efficiency. Designed to support high-performance decentralized applications (dApps), Solana can process a staggering number of transactions per second (TPS). Currently, Solana’s network handles between 5,000 and 10,000 TPS, with plans to upgrade to 65,000 TPS in the near future. This high throughput makes Solana an ideal platform for developers looking to build scalable applications. Furthermore, the low transaction costs—mere pennies per transaction—make it attractive for peer-to-peer users sending funds globally. The network of Solana is spread over thousands of independent nodes, ensuring safe and reliable transactions. This decentralization not only enhances security but also provides a robust and effective ecosystem for its users. The combination of high-speed processing and strong security measures makes Solana a formidable player in the crypto space. SOL, Solana’s native cryptocurrency, has shown incredible potential for investors. Those who bought SOL in January 2021 witnessed an epic bull run, with returns exceeding 20,000% by November of that year. Although the coin experienced a significant drop in value afterward, it has made a strong recovery in the 2024 crypto bull market. As of writing, the Solana price prediction sentiment is bullish, supported by a Fear & Greed Index of 76 (Extreme Greed). Solana’s current price is $167.66, with a 24-hour trading volume of $3.32 billion and a market cap of $75.35 billion. The SOL price increased by 8.60% in the last 24 hours, indicating strong market confidence. Given its impressive track record and future potential, Solana is well-positioned to deliver substantial 5000% returns.

Cardano (ADA)

Cardano distinguishes itself with a proof-of-stake (PoS) consensus mechanism designed to be flexible and scalable for smart contracts. This environmentally friendly approach rewards validators based on their stake in the network and the duration their ADA tokens are locked, promoting long-term commitment and network security. Developers utilize Cardano to build a wide range of applications, from games to decentralized applications (dApps) and cryptocurrencies. The platform’s architecture allows for the creation of native tokens, which operate with lower transaction fees and enhanced security compared to other blockchain-based coins. Cardano has proven its potential for massive returns twice in the past five years. At the end of 2017, the price pump of  Cardano resulted in returns of over 3,000%. The most recent bull run occurred at the end of 2020, with the coin surging more than 2,000% by September 2021. Despite a subsequent dip, Cardano has been steadily recovering. The current price of Cardano is $0.46009, with a 24-hour trading volume of $344.31 million and a market cap of $16.42 billion. Although the ADA price increased by 1.10% in the last 24 hours, the coin’s long-term prospects remain strong. If the upcoming bull market bolsters its value, Cardano could reach new highs, offering investors substantial 5000% returns.

Conclusion: Seize the Opportunity

Investing in Retik Finance, Solana, and Cardano presents an exciting opportunity for substantial returns. Each of these cryptocurrencies has demonstrated strong potential through innovative technology, market performance, and community engagement. As the crypto market continues to evolve, these coins are well-positioned to deliver significant gains. Don’t wait for the hype to build—consider adding these promising assets to your portfolio now and potentially reap the rewards of their growth.

Visit the links below for more information about Retik Finance (RETIK):

Website: https://retik.com

Whitepaper: https://retik.com/retik-whitepaper.pdf

Twitter: www.twitter.com/retikfinance

Telegram: www.t.me/retikfinance

The post Top 3 Crypto Coins with Potential for 5000% Returns—Buy Now Before the Hype appeared first on Crypto News Land.

The Cardano community has been buzzing lately about a revelation that Intersect, a key player in the ecosystem, does not currently accept payments in ADA, blockchain's native cryptocurrency. This has sparked questions about the viability of widespread cryptocurrency adoption if internal organizations are not fully on board.

Intersect, which is focused on Cardano's continuity and future development, including community-led governance and open-source development, had initially limited payment options to fiat currencies. This decision caused confusion and frustration among Cardano supporters, who questioned the commitment to ADA’s integration within its ecosystem.

card

The situation caught the attention of Charles Hoskinson, the creator of Cardano and a member of Intersect. Hoskinson expressed his concern and surprise over the issue, prompting him to request an immediate explanation from the board.

This deeply concerns and surprises me. I'm going to immediately request an explanation from the board as a member of intersect.

— Charles Hoskinson (@IOHK_Charles) May 31, 2024

In response to the backlash, Intersect quickly announced that it is working on ADA payments and will be available in upcoming releases. They updated their website to reflect this commitment, assuring members that the implementation process is already underway and updates will be provided through the roadmap.

What's the problem?

The debate within the community has also sparked discussions on potential regulatory and technical challenges. Some members suggested that regulatory classifications of cryptocurrencies as property should not hinder ADA payments, while others speculated about missed opportunities to utilize existing payment mechanisms.

card

Is this really a sign of underlying regulatory hurdles that could hinder popular cryptocurrency adoption? 

Coinspeaker Cardano’s Charles Hoskinson May Be Considering Expansion into Argentina

Recent posts from Charles Hoskinson, the founder of Cardano (ADA), appear to suggest that the blockchain firm may be planning to expand into Argentina. This follows after a series of conversations ensued between Hoskinson and Argentina’s President Javier Milei on social media.

Recently, President Milei has been openly discussing the country’s interest in blockchain technology and crypto. As a fact, Milei has made several visits to the United States in the past few weeks, meeting up with major players in the crypto industry and discussing potential collaborations, particularly in the area of regulation, in the process.

That is not to mention the recent moves by Argentina to tap El Salvador’s Bitcoin strategies. According to reports, Argentina aims to use the partnership to understand how El Salvador fosters Bitcoin adoption while staying compliant with crypto regulations. More so, in the area of a first-of-its-kind move that saw Bitcoin become a legal tender in the country in 2021.

Cardano’s Charles Hoskinson Hints at Argentina Expansion

As if to buttress the notion that Cardano might be eyeing a potential expansion to Argentina, Dario Epstein, Director at Research For Traders, has also shared an interesting update on the social media platform X. He hinted that a technology company specializing in third-generation blockchain is currently in talks with him. Although he did not mention Cardano, the firm, which also focuses on decentralized government, exactly fits the profile he mentioned.

Epstein also noted that the company is looking to establish itself in Argentina to develop knowledge and tech applications.

The connection of Epstein’s posts to Cardano came from Hoskinson’s response to his post. The Cardano founder was full of praise for Argentina, hailing the talents that he has had to work with, who came from the country. He wrote:

“Argentina has some of the brightest minds in our industry and it has been a privilege to work with them.”

To cap it all, President Milei also reposted Hoskinson’s reply, further suggesting that this budding tech collaboration has the highest support it needs for it to come to fruition.

Meanwhile, Argentina has recently been in the news for its growing efforts towards crypto. In early May, Argentina’s National Securities Commission (CNV) began coordinating with the National Commission of Digital Assets (CNAD) in El Salvador.

next

Cardano’s Charles Hoskinson May Be Considering Expansion into Argentina

Cardano's DEX achieved a daily volume of over 23 million ADA, reflecting a notable increase in trading activity.

According to U.Today, Cardano (ADA), a well-known cryptocurrency, has regained its position in the top 10 crypto assets by market capitalization. This development is seen as a testament to its stability and uniqueness. As per data from CoinMarketCap, Cardano, with a market capitalization of $16.44 billion, now holds the ninth position in the top ten. It is followed by Shiba Inu (SHIB) with a market capitalization of $16.13 billion, and Toncoin (TON) with a market capitalization of $15.65 billion.

Just a few hours prior to this, Cardano had lost its top 10 position when Shiba Inu overtook it. This was due to a surge in the prices of meme cryptocurrencies and a decline in the price of Cardano. Meanwhile, TON had already secured a place in the top 10, even though its market capitalization dropped from $22.65 billion to $15.66 billion without any change in its price. The reason behind this adjustment in TON's market capitalization remains unclear.

However, this situation seems to have positively affected Cardano. On the other hand, the case with SHIB is more straightforward. The price of the Shiba Inu token experienced a decline, which resulted in a drop in its ranking. Despite the apparent lack of interest in the ADA token and claims that it is an unnecessary 'ghost chain,' Cardano continues to hold a significant position in the cryptocurrency landscape. Its resilience, even at current price levels, is enough to rank it as the ninth largest cryptocurrency on the market, with an estimated capitalization of several trillion dollars.

The Cardano price dropped 2% in the last 24 hours to trade at $0.4515 as of 7 a.m. EST on trading volume that surged 7% to $378.8 million.

Cardano has spent the last day locked in a battle with two other cryptos — Shiba Inu (SHIB) and Toncoin (TON) — to secure a ranking among the world’s top 10 biggest cryptos by market capitalization.

ADA was edged out of the 10th spot by SHIB yesterday and again at times today, but currently has moved back into 9th spot with a market cap of $16.1 billion. TON, ranked 9th yesterday, has slipped into 10th place on $15.6 billion, while SHIB has been elbowed out of the top 10 on a market cap of $15.5 billion.

With the gap between the three still narrow, the battle for ascendancy looks likely to continue in the near future.

Cardano Price Prediction

While ADA is currently trading in the red, the coin has already started a recovery from the recent price drop, which can be seen on the chart below. Furthermore, multiple technical indicators suggest that Cardano price is likely to surge, and potentially put some distance between itself and its two competitors.

For example, the coin’s Bollinger bands have recently widened significantly, with the price currently being halfway between the upper and lower bands. The band widening is a bullish signal that suggests that ADA is likely to see a continued recovery.

Another signal that suggests further growth is the coin’s Relative Strength Index (RSI) value, which returned to the neutral zone after previously dropping to the oversold area. This suggests that Cardano’s buying pressure is building up.

While the coin’s RSI already reached the neutral zone only to drop again earlier today, the widening of the Bollinger bands coupled with the RSI increase suggests that traders believe that the recovery will be strong this time and that this is the time to buy and hold.

For the moment, Cardano still has a resistance at $0.450 to breach before it can head further up, and after that, the next one sits right above at $0.455. However, if these two barriers fall, ADA will have a clear path to $0.46, and potentially beyond. Alternatively, if its price gets rejected, the coin has a strong support at $0.445 which stopped its previous drop several hours ago, and will possibly act as a bottom in case of another rejection.

Promising Alternative to Cardano

While Cardano has the potential for recovery, many experienced investors believe that the best potential for exponential gains lies with crypto presales, which often explode after launch.

PlayDoge (PLAY) might be one such good example after it raced to $200k in funds raised just minutes after its launch. It’s a mobile-based P2E game that transforms the iconic Doge meme into a Tamagotchi-style 2D pet.

The project combines meme coins, the P2E model, and gaming, all three of which have been recording massive attention over the years.

On top of that, it also brings ‘90s nostalgia that is all but guaranteed to attract millennial investors who used to take care of their own Tamagotchi toy back in their childhoods.

YouTube channel Cryptonews says PLAY has the potential to 100X on launch.

PLAY has raced to $441k in funds raised already in only two 2 days since its launch while selling for $0.005. If you are interested to join the project, buy before a price hike in less than two days.

Buy PLAY tokens on the official website here with BNB, ETH, USDT, or credit/debit cards.

Related Articles:

PlayDoge Meme Coin Raises $200K In ICO Explosion, Can It Challenge Floki Inu With DOGE Hype, Play-To-Earn Gaming?

Meme Coins Flash Crash As Pepe, Dogwifhat, And Shiba Inu Plunge Amid 8% Sector Slump

Metaplanet’s Bitcoin Strategy Disrupts the Tokyo Stock Exchange

Shiba Inu (SHIB) has made impressive advances, rising nine spots on the market capitalization rankings to become ninth. Now valued at $16.4 billion, SHIB saw its market value increase 9.2% last week – surpassing Cardano and placing just behind Dogecoin which holds onto eighth position. Profits and Performance for Price Holders. Following a recent price …

Continue reading "Shiba Inu Overtakes Cardano, Nears Dogecoin in Market Cap"

The post Shiba Inu Overtakes Cardano, Nears Dogecoin in Market Cap appeared first on Cryptoknowmics-Crypto News and Media Platform.