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Price Analysis

Cardano (ADA) Price Analysis: Amidst the Bullish Market Sentiments, Cardano Foundation Pushes the Changes in Shelley Testnet

Regarding the Shelley Testnet, a new version 0.3.3 of Jormungandr was released. The update includes a major core rewrite of the internal blockchain data representation, which ultimately makes the code safer, faster, and to provide better API content.

Current Statistics of Cardano:

Cardano price chart - Aug 25
Cardano Chart By TradingView
  • On August 25, at UTC 07:10, Cardano (ADA) vs. USD is trading around 0.0517917 USD.
  • Against Bitcoin, the crypto is valued around 0.00000519 BTC per chip.
  • At present, Cardano is ranked at the 12th position in the Cryptocurrency market.
  • Additionally, the market capitalization of the altcoin is around 1,341,139,111 USD.
  • At the same time, the 24-hour trading volume in the coin is 109,894,510 USD.
  • At the time of writing, a total of 25,927,070,538 ADA chips were circulating in the market, with an ROI of 138.62%.

ADA to USD Comparison:

On the other day, Cardano (ADA) started in the red zone. Yesterday, in the early hours, the crypto had gone down by 2.32%. Followed by a sharp breakdown of 3.49% and dropped to the level of 0.048169 USD. Afterward, the altcoin kept fluctuating at those levels with a small amount of strengthening by 2.47%. The strengthening continued further and moreover gone up by 5.56% in the second half of the previous day. The price climbed back to 0.0519 USD during the bull run. However, later the altcoin degraded a bit soon but kept moving at a stable pace. Besides, in the early hours of the day today, another upward surge occurred in the coin where it showed a hike of 4.96% and touched the 0.052749 USD mark. After that, the cryptocurrency kept hovering around those level until the time of calculation.

Cardano Price Prediction:

Yesterday, Cardano (ADA) had shown a bullish trend and wrapped the day in the green zone. At present, the immediate resistance for the coin is at 0.05207 USD, and the support level is at 0.04859 USD.

Conclusion:

The focus of the team on fundamentals is a sound step, especially in the long run for the crypto. Meanwhile, Cardano seems to be good crypto to invest in and has the potential to climb up into the top five.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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