ADA Continues to Stall Despite Surge in Development Activity. At the time of writing, the price of the Cardano ADA token was trading at $0.092818.
This means that it is up by 0.70% against the USD and down by 0.41% against Bitcoin BTC. The trading volume over 24 hours was $954,418,063 and the market capitalization was $2,887,790,781. The bearish pressure in the market has been intense over the last few weeks and things are most likely going to get worst soon. Yesterday, the token fell below the $0.092 level but bounced back shortly after.
Still, the bears are in control of the market. We cannot confirm that the bulls have taken control of the market until the price of the ADA token moves above the $0.13 level near-term. With the price of Bitcoin BTC falling below the USD, there is no telling when this will happen.
Cardano’s Charles had this to say about the progress of the blockchain;
“Following the launch of Cardano’s decentralized era, in July, the platform has continued to accelerate. One of our goals has always been to ‘reinvent’ venture capital and make it fairer, and this fund is the next piece in the puzzle to achieve this. The fund, combined with its democratic voting system, means that every ADA holder can be a part of making key decisions for the future of the ecosystem. IOHK and Cardano are privileged to have a creative, committed, and talented community behind us, who share our goals of democratizing finance and essential services, and this shines through in some of the brilliant proposals we have received during the test processes. Looking ahead as we hand the keys to the community, this bodes very well for the future of Cardano.”
Charles Hoskinson Slams YouTube for Lack of Accountability
In other news, Hoskinson has slammed YouTube again for their role in promoting cryptocurrency scams. The media company, which is currently facing several lawsuits for its failure to shut down cryptocurrency scam websites, still doesn’t take preventive measures.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- There has Been a Spike in Developer Activity on the Cardano Blockchain According to On-chain Analysis
- Spike in Developer Activity has not Promoted a Rise in the Price of the ADA Token as it Continues Declining
- Hoskinson Slams YouTube for Lack of Accountability
There has been a spike in developer activity on the Cardano blockchain according to data from Santiment. This spike in developer activity came right after the firm announced the launch of a $250,000 fund for the Cardano community.
The $250,000 fund as reported by smartereum.com yesterday, is meant to fund projects on the Cardano ecosystem as project Catalyst is about to launch. Despite the surge in development activity, the price of the Cardano ADA token has continued to trend horizontally against the USD and Bitcoin BTC.
