Buy Cardano 2022 – Project Updates, Price Analysis, and Secrets!

All that rhetoric that blockchain establishes in the form of trust, transparency, and security goes for a flip. This happens when you cannot use a technology to power up ambitious sectors like finance due to scalability challenges. Having said that, what happens when blockchain projects encounter conflicts within their own community, an unavoidable hard fork, and a long period of contention among investors to choose the right coin post the hard fork.

What would you say to an idea where true decentralization can be inducted to power up the project? Preferably, one would say that it might be next to impossible to get the community to vote on everything and then develop, instead of vice-versa. However, there’s one project which is preferably doing that and it could be the next big thing in the crypto space. In case, you are wondering which blockchain we are talking about, it is Cardano!

What is Cardano Blockchain? 

Despite some of the cryptocurrencies witnessing an unprecedented rise, they weren’t immune to conflicts of interest, hacks, and scandals. As a result, hard forks ended up as a trending term in the last few years. However, Cardano introduced the concept of true decentralization through its scientific philosophy and research-driven approach.

The crux of the project is that even the developers and project founders do not have complete control over the project. Rather, the community drives everything through a free, open-source voting process that makes the entire project trusted, verified and scalability is driven through its consensus mechanism. 

How Cardano introduces scalability despite 100% decentralization?

Basically, most of the renowned blockchains that the community trusts work on PoW or Proof-of-Work mechanism. Without a doubt, proof of work is a masterpiece consensus when you want very high security; nonetheless, one cannot use it for driving enterprise-level adoption. In order to do that, the blockchain must be fast but secure at the same time. 

Cardano’s Ouroboros algorithm, which is much like the heart of the Cardano ecosystem, uses PoS or Proof-of-Stake consensus mechanism that considerably saves on energy consumption and facilitates faster transactions. On top of this, the Recursive Internet Worked Architecture( RINA) allows scaling the ecosystem to meet enterprise-level adoption. For example, African countries are thinking of adopting Cardano as a payment network in their country. 

How does RINA help in scaling the Cardano Ecosystem?

Basically, most blockchains start to choke out when enterprises adopt their ecosystem. The prime reason for the same is an overflow of data to their ecosystem. As a result, network bandwidth becomes an unavoidable holy grail that hasn’t been solved yet. Since all existing networks work on TCP/IP model, commanding scalability to happen while using a restrictive blockchain layer would mean asking a fish to climb a tree. 

That said, Cardano introduces RINA or Recursive Internet Worked Architecture which breaks the network layer into two: (1) Data transfer layer (2) Data management layer. However, in case you are wondering how communication would happen between both layers to validate the entries, a default network security layer acts as a subset for both layers. 

Why is Cardano a Must BUY for the future? 

The recent explosion in the DeFi market has established the fact that as time passes, we could see more use-cases building on top of DeFi. Earlier we did see the DeFi 1.0 storm, now we are seeing the DeFi 2.0 storm where protocols have turned smarter and they control much of their liquidity on their own. In the near future, more use cases would emerge and the much anticipated Hydra upgrade would allow quickening of transactions on the ADA-USD chain at a fraction of a cost. 

As a result, preferably the DeFi ecosystem might look forward to moving to the Cardano ecosystem instead of Solana due to the latter’s network outage track record. At the same time, investors need not have to worry about hard forks and their initial tokens losing value since the peered review is going to turn mainstream on the Cardano network. All of these would make Cardano a preferred buy option for the upcoming future ahead. 

Why is the present Cardano price a good entry point? 

Though most of the cryptocurrencies witnessed an inevitable bloodbath in the market recently, Cardano, often considered an underdog project, performed outrageously. The token is up 30% invalidating a bull trap ahead. Much of the price gains have been attributable to this third phase rollout and Basho update. As per the Dutch cryptocurrency trader Michaël van de Poppe, ADA is on the path to reversal after invalidating a further downside to $1 below the lower trend line. 

Thus setting the tone that no further divergence would occur within the $1.05 and $1.20 zone and we could very well see momentum building up ahead. $1.30 could be a good entry point and $1.41 could be the point where we see massive trades as per the Fib retracement analysis. 

ADA/USDT chart showing ADA at strong Buy levels
ADA/USDT chart showing ADA at strong Buy levels

Buy Cardano Here

How to Buy Cardano on Binance?

Step 1

Click on the link to initiate the process. Once you do, it will take you to the “buy Cardano” section with a credit card page as shown below. 

Buy Cardano

 

Step 2

Click on the login as shown on the top right. We are assuming that you have a Binance account. In case you do not, you can check our other blog where we have a guided tutorial to help you set up your Binance account. 

Step 3

Input the code received and once you do, it will take you to buy with a credit card.

Buy Cardano

Step 4

Input the amount of ADA you wish to buy. We’ll take an example of 1,000 USD and click on the continue button. 

Buy Cardano

Step 5

Click on the add card option. Fill in the specimens and click on continue. Once you do, it will ask for validating the transaction within 11 seconds. 

Step 6

Upon doing that, you can check the ADA newly purchased on your spot wallet. Always use a reliable cold wallet to store all your cryptos. 

Buy ADA with simple steps mentioned in this blog on Binance
Buy ADA with simple steps mentioned in this blog on Binance© Cryptoticker

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Cardano Price BROKE $1! Should you Sell ADA? Here’s what to do…

As the cryptocurrency market continues to drop further, Cardano prices took a heavy toll. Crypto traders were hoping that the $1 psychological price of ADA would hold. However, this was not the case. ADA price managed to breach $1 and even reached a low of $ 0.96 at certain exchanges. What should you do with your ADAs? Should you sell Cardano or wait for a rebound?

Cardano Price Crashed along the Crypto Market

We recently highlighted the top 3 reasons why the crypto market is crashing. With Bitcoin being the biggest crypto by market cap, it is only natural to see other altcoins suffer as much. Despite the recent surge in Cardano’s price in the past week, today ADA erased all past gains. The developments in the project look promising, but the overall crypto market movement dictates a stronger path for ADA prices.

Cardano price - ADA/USD 4-hour chart showing ADA crash
Fig.1 ADA/USD 4-hour chart showing ADA crash – TradingView

If you think cryptos and Cardano specifically are not good investments only because of the current crash, you might want to consider them again. The equity market also suffered from a sharp decline in market cap. Stocks such as NVIDIA also suffered from a rocky price-action ever since November 2021. NVDA lost also 30%, so not only are cryptocurrencies volatile. In figure 2, we can see a clear similarity in the price-action of ADA and NVDA.

Cardano price correlating with NVIDIA stock
Fig.2 NVDA stock 1-day chart – TradingView

Should you Sell Cardano Today?

You might want to hold your horses, as prices reached a very strong support level. It is true that ADA prices managed to break the $1 price on certain exchanges, but this can simply be a fakeout. Setting a stop-loss area around $0.95 is a good idea, as breaching $1 a second time lower by 5% might confirm the continuation of the bear market.

Currently, Cardano price is lingering around $1. It would be best to keep a lookout on how prices progress in the next hours. As the crypto market lost around -15% in the past 24 hours already, there should be a slight rebound in prices.

ADA/USD 2-hours chart showing ADA's fakeout
Fig.3 ADA/USD 2-hours chart showing ADA’s fakeout – TradingView

On the other hand, we shouldn’t mistake rebounds from simple green candles in a downtrend. Simply put hard stops without even thinking about it. Successful traders are not the ones who don’t lose money, but who know how to manage their losses.

Buy Cardano
Buy Cardano© Cryptoticker

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Cardano Price Prediction – ADA can Bounce Back and THIS is Why

Just like all the altcoins in the cryptocurrency market, the value of ADA fell back towards a previous support area. The recent crypto crash was a harsh one but expected from technical traders. As highlighted in this article, broken uptrends are a sign of reversals. Cardano was an exciting project for so many crypto enthusiasts. In fact, prices soared in 2021 to almost $3, but the crypto crash brought prices down to $1.17. Now that we are back towards the support area, can we buy Cardano? In this Cardano price prediction article, we’re going to see why a buy trade might be a good one.

Cardano Prices fell more than 60%

It is no surprise that ADA lost in valuation heavily. In a course of 3 months, ADA prices fell from a high of almost $3 to a current low of around $1.17. On the other hand, this price is very close to the psychological price area of $1. Additionally, prices in the past tended to bounce back upwards on multiple occasions.

In figure 1 below, we can clearly see how prices reversed upwards every time prices reached this area. We did have occasional fakeouts that reached $0.92, but this only presented strong buys. Bear in mind that areas are very subjective, but the general consensus seems to agree on an area between $1 and $1.16. The price jumps after reaching such a level on average were between 20% and 40%.

ADA/USD 1-day chart showing the strong support area of ADA - Cardano Price Prediction
Fig.1 ADA/USD 1-day chart showing the strong support area of ADA – TradingView

Cardano Price Prediction – Can you Buy ADA Today?

The buffer zone of ADA is a bit wide, representing a 15% delta in prices. That’s why considering to open any trade is very subjective and depends on the trader’s risk tolerance and target.

The risk tolerance determines how much the trader is willing to lose, while the target determines how much the trader wants to win. Easy right? Let’s lay out 2 trade setups that suit both risky and conservative traders.

  • You can open a trade at the current $1.16 price, with a stop loss just below $1. Your target would then be around $1.5, having a risk/reward ratio of 3.78.
  • On the other hand, you can wait for a further dip towards the $1 just to make sure that the downtrend is over. If the market corrects itself from this price, you would have missed the entry, and you’ll have to enter at a much higher price, say around $1.2.

—-> Click here to Buy ADA <—-

ADA/USD 4-hours chart showing the potential entry prices of ADA
Fig.2 ADA/USD 4-hours chart showing the potential entry prices of ADA – TradingView

The Crypto Market at a Glance

In the past 24 hours, the cryptocurrency market looks like it is on the verge of a reversal. Prices barely changed upwards, and this might be a good sign. Most altcoins reached their strong support levels as in the case of ADA. The top gainers were IMX, ROSE, and ZEC gaining respectively 16%, 9%, and 8%. On the other hand, GNO, ONE, and YFI lost respectively 9%, 7%, and 5%.

1- Bitcoin (BTC) : + 0.17%

2- Ether (ETH) : + 0.88 %

3- Tether (USDT) : 0 % (surpassing BNB)

4- Binance Coin (BNB): +1.49 %

5- Solana (SOL) : + 1.14 % 

6- USD Coin (USDC) : + 0 % (surpassing ADA)

7- Cardano (ADA) : + 0.02 % 

8- Ripple (XRP) : + 0.34 %

9- Terra (LUNA) : + 3.10 %

10- Polkadot (DOT): + 3.33 %

Stay Ahead, Stay Updated
Rudy Fares

cardano ADA
cardano ADA© Cryptoticker

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