By Davis Byrne (US)
Cardano (ADA) is backed by a very strong team that consists of engineers, researchers, and developers; it is the first blockchain platform that is based on the scientific concept and approach. Cardano (ADA) is considered as the cryptocurrency of the third generation, which means that the digital asset has three qualities: sustainability, scalability, and interoperability. The main focus of the Cardano Foundation is on the development of smart contracts.
Cardano News and Events
The meet up of the community is going to take place on 22nd August in Berlin:
Manuel ( @TacticalGrace ) & Darko ( @DarkoMijic ) will be attending a #CardanoCommunity meetup in Berlin on August 22
Recently, a strategic partnership between Cardano foundation and Konfidio, a Berlin-based company is made. Dr. Mervyn G. Maistry, CEO of Konfidio expressed his motive after the agreement of collaboration:
This strategic partnership will help the development of real-world Cardano-based applications. Our aim is to increase the understanding of the protocol in both corporate and startup environments and accelerate value-add for both Cardano, the blockchain community and our clients.
Cardano Price Statistics
The statistical data of the coin is as follows:
Market Capitalization: $1,279,171,564 USD and 123,212 BTC.
24 hour Volume: $33,186,695 USD and 3,197 BTC.
Circulating Supply: 25,927,070,538 ADA
Also read:Total Supply: 31,112,483,745 ADA
Maximum Supply: 45,000,000,000 ADA
Price Value of Cardano
The price value of the coin is standing at $0.049423 USD and 0.00000475 BTC at the time of writing.
Cardano Price Comparison
The price of the coin is continuously moving downward from 26 June as you can see in the above 3-months chart. The value was clinging at the mark of $0.079 on 9th June, the lowest position of the month of June.
But the trend line triggered from this low position to the highest position of $0.10 at the end of June. Again, the bearish trend insisted the price value to dive $0.044 which was recorded on 15th August. A slight retracement is noticed with some recovery and the current position achieved by the token is $0.049423.
Cardano Price prediction
The technical analysis giving the signs of an uptrend as the 4-hours chart is displaying a positive recovery in the price value. There is a strong support level at $0.047 that will act as a strong wall against the line and will not allow it to dive deeper. The price value is on the way to obtain the mark of $0.052 in the next 24 hours which is also a strong resistance level.
Conclusion
The coin is showing a 3.81% recovery in 24 hours and the ROI value is standing at 127, 99%. After doing the technical analysis, it seems that the resistance level at $0.052 is going to break in the next 24 hours and price will soar high.
What is your prediction about the price of Cardano? Let us know in the comment section.
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