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Cardano Price Notes a Small Gain Following Favorable Icarus Audit

The cryptocurrency markets have seen some interesting momentum today, even though no major price changes have occurred as of yet. Cardano is trying to note some solid gains right now, albeit reaching $0.08 seems to be a stretch too far. Even so, the positive momentum among altcoins can make for a rather interesting weekend.

Cardano Price Rise Isn’t Happening Yet

After the troublesome year 2018 has proven to be so far, it is evident the remainder of 2018 will not necessarily offer any relief. All cryptocurrencies are still on the mend, and it seems the momentum isn’t changing in favor of either Bitcoin or altcoins at this time. Even small gains like the ones materializing today can offer a welcome reprieve.

Over the past 24 hours, there has been a relatively small gain for Cardano. Thanks to a 2% gain in both the USD and BTC departments, things are not looking too bad for this particular altcoin. Combined with a relatively normal trading volume, it can lead to a value which continues to rise gradually throughout most of the weekend.

An interesting announcement by IOHK showed the future of Cardano looks pretty good. A recent audit conducted by Kudelski Security shows the Icarus implementation for Cardano will be good to go. Although there may still be some tweaking to be done, the reference implementation is expected to make a big impact on this altcoin’s ecosystem moving forward.

Coincidentally, Charles Hoskinson, the person responsible for creating Cardano as well as a few other altcoin projects, is confident fundraising doesn’t make a project succeed. He specifically singles out EOS in this regard, as that project still has the most successful and lengthiest ICO to date. Even so, money can’t solve every problem, especially not where coding is concerned.

Traders and speculators are never far away when a cryptocurrency market makes a move in either direction. For Cardano, it seems things are looking pretty good right now. Diemme Breiig is confident Cardano will get a massive bounce in the coming days, albeit reaching the perceived target will be a lot more difficult than originally anticipated.

All of the current cryptocurrency market conditions look a bit unusual right now. The overall trading volume is on the same level as the rest of the week, yet the prices are not necessarily moving all that much. Instead, there is a lot of sideways action taking place right now. For Cardano, it seems a move to $0.08 might be attempted, but its success remains to be determined.

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Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

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