Cardano Financial News

High volatility is necessary to attract traders to the crypto derivatives space, and institutions would most like to see new derivatives contracts backed by altcoins such as solana (SOL), polkadot (DOT), cardano (ADA) and stablecoins, a new report from the derivatives-focused analytics firm Acuiti has found.

Bitcoin (BTC) and most major altcoins have broken key support levels to start the week on a weak note. The crypto markets seem to be following the U.S. equity markets, which are being pulled down as investors reduce exposure to risky assets because of rising rates. 

Bitcoin (BTC) and most major altcoins are attempting to defend the immediate support levels, indicating that bears sense an opportunity and are looking to take control of the price action.

A project the team behind Cardano (ADA) to equip students in Ethiopia with digital identities and credentials is moving forward, with a planned launch of the first phase set to happen “in the next two months.”

As Cardano (ADA) prices fall back towards the psychological one dollar level, more and more investors are finding themselves with unrealized losses by holding on to the digital asset.

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Bitcoin (BTC), the entire crypto sector and the S&P 500 index are correcting on April 6, which highlights the tight correlation between the two sectors.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

Non-profit organization Cardano Foundation has announced a three-year collaboration with the Blockchain Center of the University of Zurich (UZH BCC) to further research initiatives and explore blockchain education development. 

Bitcoin (BTC) has been stuck between $45,400 and $47,500 for the past two days, indicating a tough tussle between the buyers and sellers as both attempt to establish control over the trend.

The crypto community and industry have chosen Ethereum as the chain of choice for most blockchain-based decentralized applications, but other chains may be better suited to handle the workload for decentralized autonomous organizations (DAOs).

Bitcoin (BTC) has clawed back much of the losses that took place in January and now the focus of traders shifts to April, which has historically been a strong month for. According to Coinglass data, Bitcoin has closed April in the red only on three occasions and the worst monthly loss was a 3.46% drop in 2015. 

April is here, with spring and some green shoots starting to form in the crypto market.

Bitcoin’s (BTC) rally is taking a breather near the 200-day simple moving average (SMA) and that has resulted in what is either a minor pullback or consolidation in BTC and select altcoins. 

Crypto intelligence firm IntoTheBlock reports that the number of large transactions on the Cardano blockchain has increased by more than 50X this year. 

The American exchange-traded fund (ETF) provider WisdomTree continues expanding its cryptocurrency products in Europe by launching three new crypto exchange-traded products (ETP) backed by Solana (SOL), Cardano (ADA) and Polkadot (DOT).

Bitcoin broke out of a narrow trading range and wiped away this year’s losses amid a broad rally for cryptocurrencies, sparking speculation that the biggest digital asset could advance past the $50,000 mark soon. The token rose as high as $47,583 on Monday, well above the $35,000-to-$45,000 band where it’s been stuck since early January. With the fresh gains, Bitcoin is now up about 1.9% for the year, compared with a 4.7% decline for the S&P 500. Ether similarly bounced as much as 3.7% to $3,358 on Monday, while altcoins such as Solana’s SOL, Avalanche’s AAVE and Dogecoin rose between 5.5% and 9.4%. Bitcoin may encounter its next resistance level at $52,000 and should it break through that, it could advance to $65,000 — not far off the all-time high it reached in November, according to Fadi Aboualfa, head of research at Copper. Rick Bensignor, the president of Bensignor Investment Strategies, said in a note Sunday that Bitcoin is “on the verge of a 20% run higher.”

Bitcoin (BTC) and several altcoins surprised many with their newfound strength during the weekend. Bitcoin’s rally easily sliced through the $45,900 level, which according to Glassnode was an area of resistance because several investors had purchased near that level when Bitcoin was declining after hitting its all-time high in November.

Cardano founder Charles Hoskinson gave a keynote speech on the first day of this year’s Binance Blockchain Week, held at the Dubai World Trade Centre in the United Arab Emirates.  

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Bitcoin (BTC) is attempting to notch its second successive weekly gains and end at the highest weekly closing price year-to-date. According to on-chain data from Glassnode, the recovery in Bitcoin’s price was driven by demand in the spot markets. This is likely to cheer the bulls because history suggests that spot market demand leads to sustained upside.