The popular cryptocurrency Cardano (ADA) achieved significant success, climbing 10% in a day. Cardano climbed to third place on the SafeTrading rankings, overtaking Binance Coin with a market cap of $ 82 billion by best crypto signals.
Important Cardano Attack (ADA)
The popular cryptocurrency Cardano (ADA) took on a bullish trend and took off in a stagnant market. ADA left an important milestone in its wake, breaking the course upwards, while Bitcoin and Ethereum recorded stagnant minutes. ADA, taking advantage of the bearish trend on Binance Coin, came in third.
Cardano (ADA) got all the attention with the Alonzo update. Alonzo’s update is scheduled for September 12th. Stating that all work has been completed successfully to date, IOHK CEO Charles Hoskinson said they did not compromise on the plan. However, Hoskinson stated that some segments are dealing with defamation of the Alonzo update, just like in previous updates.
With the Alonzo update eagerly awaited by ADA investors, the Cardano network will be fully compatible with the smart contract service. Growth is expected to continue, according to data and investor sentiment data on the Cardano network. In addition, the ADA, which made a splash with its best crypto signals when the cryptocurrency market entered a period of consolidation, ranks among the cryptocurrencies that are enthralling investors.
Binance Coin (BNB) is in a recovery phase.
- Binance Coin (BNB), the local cryptocurrency of Binance, the world’s largest cryptocurrency exchange by trading volume, is following the overall market trend and downward trend. BNB is one line behind Cardano with a $ 69 billion market cap.
- While BNB has recorded a pullback of more than 15% since last week, there has been no change to capture the upside momentum. BNB hit an all-time high of $ 690 about 4 months ago.
Which altcoins are gearing up for new highs?
This week, the cryptocurrency market has been interrupted by an uptrend over the past two weeks. Leading cryptocurrency Bitcoin climbed above $ 50,000. However, it was pushed up to the $ 45,000 mark – analyst of SafeTrading.
It’s the same with altcoins. While Ethereum is moving towards the $ 4,000 level, it is currently trading at the $ 3,236 level. Weekly depreciation 17%. However, some altcoins have remained outside the general course of the market.
- Although Solana, the favorite altcoin of recent weeks, has dropped slightly, it has begun to recover. After dropping to $ 130, SOL began to rally rapidly and momentarily traded at $ 177. Killer cryptocurrency Ethereum surged to $ 193 in a day.
- Solana has demonstrated once again that, if deployed properly, it has the potential to become an Ethereum killer with web-scale data and the ability to improve DeFi. With a solid position and technical background in these conditions, he is watching new heights.
- The star of the altcoin market this week is Terra (LUNA). While the cryptocurrency market, including Bitcoin, is in free fall, LUNA is up more than 26.2% in 24 hours and is currently trading at $ 41, making Terra one of the most profitable.
After falling below the important support at the $ 25 level the day before, the token gained momentum and climbed back to the $ 30 level, and this morning broke the $ 40 level. Terra significantly improves Columbus 5. Terra, like other cryptocurrency platforms, is trying to develop and accelerate. These improvements will facilitate the migration of tokens, which is the main goal of the ecosystem. An update that allows you to burn tokens will make Terra more valuable. All eyes can be on Terra for a while.
The high volatility of prices in the world of cryptocurrencies is an undeniable reality. While some think this volatility is a thing of the past, Bitcoin has seriously lost its value due to following the altcoins in the market a few days ago and trading below $ 45,000 levels.
Many analysts from SafeTrading and investors in the market have given various reasons for this decline. A recent tweet from a Singapore-based crypto fund firm is an example of this. The tweet stated that the US has played a large role in the continuation of this volatility. QCP Capital says the delay in Bitcoin ETF approval, coupled with a split involving Coinbase and the SEC, could “prevent a crazy cryptocurrency rally.” The US SEC has long postponed a decision to approve a Bitcoin ETF. While some believe it will be approved in October, QCP Capital is not so optimistic.
- “The negative SEC comments on the Bitcoin ETF showed how well the market has valued it, and there are rumors in the market that this will be confirmed by October (I still don’t know where that came from).”
QPC expressed concern.
Despite numerous successful Bitcoin ETF implementations in places like Canada, the SEC remains adamant. Although SEC Chairman Gary Gensler said a few weeks ago that he would prefer a Bitcoin futures ETF over a spot ETF, no action has yet been taken. This delay will affect the cryptocurrency market. QCP says ETF news will have an impact on investors in the future.
QCP has made several statements threatening to sue Coinbase if the SEC implements the lending service. QPC said they believe the threat to an institution like Coinbase does not bode well for the cryptocurrency industry, and reiterated concerns about this.