Cardano (ADA) as of today, December 17, 2023, 5:33 p.m. PST:
Price Market capitalization: $21.52 billion Circulating supply: 35,337,371,983.889 ADA Maximum supply: 45 billion ADA News and developments:
The total value of the Cardano DeFi ecosystem is approaching $450 million amid the Layer 1 push: This is a positive sign for the Cardano ecosystem as it shows that there is growing interest and adoption of decentralized finance applications ( DeFi) on the platform. Cardano Alonzo Hard Fork Update: The Alonzo hard fork update, which introduced smart contract functionality on Cardano, was a major milestone for the platform. This update has opened the door to creating a wide range of new applications on Cardano, including DeFi applications, NFTs, and more. General sentiment:
Cardano is a highly respected blockchain platform with a strong focus on security and scalability. The recent increase in the total value locked (TVL) of the Cardano DeFi ecosystem is a positive sign for the future of the platform. However, the cryptocurrency market remains volatile and the price of ADA could fluctuate significantly in the short term.
-Chinese government plans identity verification with blockchain.
The Chinese Ministry of Public Security plans to implement a blockchain-based identity verification system that it says will help keep personal data and identity credentials secure.
The Chinese Ministry of Public Security plans to launch a new blockchain-based platform called RealDID to verify the real-name identities of its citizens. According to a press release for an event held on December 12 by the Blockchain-based Service Network (BSN), a Chinese blockchain company, the project, planned with the Chinese government, will have multiple use cases. These include personal real name confirmation, encrypted personal data protection and certification, private logins, enterprise identities, personal identification certificate services, and personal identity information vouchers. The application will allow Chinese citizens to register and log in to online portals anonymously using DID addresses, ensuring the privacy of transactions and data between individuals and companies. Although there is no official mention of a launch date or when it will be rolled out to China's 1.4 billion people, the announcement claims that it has "enormous potential" to ensure personal privacy. BSN is managed by China's National Information Center and has ties to large Chinese technology companies such as China Mobile and China UnionPay. This comes after six Chinese social media platforms, including the popular WeChat, in late October imposed a mandate that content creators with more than 500,000 to 1 million followers must publicly display their real names and any endorsements. financial.
🚀 Cardano Bulls Soar – Analyst Predicts $32 ADA on Bullish Apex
Renowned cryptocurrency enthusiast Jason Appleton predicts a breakthrough surge for Cardano (ADA) in the ongoing bull cycle, which could catapult the digital asset to $32. Here are the key details:
📈Bold Analyst Prediction:
In a recent tweet, Jason Appleton confidently shares a video explaining his belief that the peak of the bull season could push ADA to an impressive $32. He states: “I believe Cardano will be one of, if not the most valuable Altcoins on the market by market peak.”
🔗Tweet information:
⚙️ Recent Cardano Performance:
Cardano has been outshining major cryptocurrencies including Bitcoin and Ethereum, and Jason's prediction aligns with a period of notable market indices for ADA. The eighth-largest cryptocurrency by market capital recently saw an increase in its Total Value Locked (TVL) metrics, reaching around $434.17 million.
💹 Market variables and price increases:
ADA is currently trading at approximately $0.63, demonstrating impressive increases of 32% and 75% in the last seven and thirty days, respectively.
📰 Small Wallet Exodus and Cardano Price Growth:
While the exact cause of ADA's loss of smaller wallets remains unidentified, it correlates with Cardano's recent price increases. Santiment draws attention to this connection in a recent report.
🔮 Future perspectives:
Jason Appleton's prediction, if realized, could mark a major milestone for Cardano. The ongoing bull cycle, coupled with positive market dynamics, positions ADA as a key player in the crypto space.
Brazil: Central Bank reveals details on cryptocurrency law.
P2P activity will not be directly regulated, but will be subject to standards for banks, VASPs and other entities
In the live broadcast held this Monday, December 11, the Central Bank of Brazil (BC) revealed new details about the regulation of cryptocurrencies that should be implemented in 2024 in the country. During the event, attended by Antônio Marcos Guimarães, consultant of the Department of Regulation of the Financial System, and Gustavo Igreja, head of the Audiovisual Content Division, the BC revealed that it should not directly regulate the P2P activity of cryptocurrencies and that there will be rules different for banks, exchanges, DeFi and Dex platforms. Regarding P2P activity, Guimarães highlighted that it will not be regulated directly by the BC, but indirectly by the rules for Banks, Virtual Asset Service Providers (VASP) and other entities. In addition, OTC tables and P2P intermediation for third parties will be covered by the standard. According to him, exchanges will have to share various information with the regulator and then it will be possible to monitor P2P activity, however, the exchange between cryptocurrencies from a wallet maintained by one individual with another maintained by another individual, the famous P2P, will not be subject to BC regulation. Furthermore, Guimarães revealed that the BC plans to treat different types of services in the market with different regulations. Therefore, exchange and custody services will have a different rule than banks that offer crypto assets. However, companies classified as Payment Institutions (PI) will not be able to offer cryptocurrencies to clients.
Cardano ADA€0.586 rose from the 50% Fibonacci level of $0.51 on December 11 and surpassed $0.65 on December 13.
*Daily chart of the ADA/USDT pair. Source: TradingView*
If buyers keep the price above $0.65, the ADA/USDT pair could reach $0.70 and subsequently $0.78. However, the risk of a correction is great, as the RSI has been trading in the overbought territory for the past few days. The first sign of weakness would be a drop below $0.61. This could trigger a pullback towards the 20-day EMA ($0.51). This remains the key level to watch because a break below it will indicate a short-term trend change.
-This article does not contain investment advice or recommendations. All investments and trading carry risks, and readers should conduct their own research when making a decision.
New Bitcoin mining farm is installed in Vaca Muerta, Argentina.
It was announced by one of the founders of Unblock Computos, the company in charge of the project.
The methane gas produced by extracting oil from the Vaca Muerta reserve, in Argentine Patagonia, is beginning to have concrete use cases. Bitcoin mining is already on that list twice, first with a public-private venture and now with a new initiative led by several companies. Tomás Ocampo, founder of Unblock Computos, announced on the social network Gas flare is the process of burning unwanted gases that are released during oil and gas production.
The Unblock Bitcoin mining farm is located in the Vaca Muerta sedimentary formation, located mainly in the province of Neuquén, although it also covers the territory of Mendoza, Río Negro and La Pampa. It is one of the most important oil reserves in the world, with an area of 30,000 square kilometers. Oil and gas are produced in Vaca Muerta. However, until recently the residual methane gas from the extraction process did not have a clear use, but was burned by flaring. To remedy this situation, a shared project emerged in 2022 between the state company YPF Luz and an international company — which one exactly was never known. They tested mining Bitcoin from that available, unused energy.
Why is this good for the environment?
Gas flare-based Bitcoin mining has two big benefits. On the one hand, it allows the generation of a good (bitcoins) from energy that would otherwise be wasted. On the other hand, it prevents the release of substances that are extremely harmful to the environment, such as those from gas burning. When natural gas associated with oil is extracted during drilling, it is often burned directly rather than being captured and used.
Top 3 BRC20 Tokens Under $0.1 on Binance for Potential Millionaire Profits 🚀
Introduction: Discover three promising BRC20 tokens on Binance, priced under $0.1, that could put you on the path to millionaire status ahead of the bull run.
1. MicroGem (MGC): - Overview: MicroGem focuses on decentralized finance (DeFi) for microtransactions. Attractively priced under $0.1, it addresses cost inefficiencies, making it ideal for users engaged in small-scale financial activities. - Key Features: Low transaction fees and scalability make MicroGem an affordable and scalable solution for microtransactions, attracting users looking for growth potential.
2. QuantLite (QLT): - Overview: Priced under $0.1, QuantLite takes advantage of quantitative trading strategies. Focusing on algorithmic trading, it offers a profitable entry point for those interested in algorithm-based approaches to navigating market volatility. - Key Features: QuantLite stands out for its affordability and emphasis on quantitative trading, appealing to traders looking to capitalize on algorithmic efficiency.
3. Starseed (STRSD): - Overview: StarSeed, priced under $0.1, focuses on fostering decentralized applications (DApps) and smart contracts. With simplicity and accessibility as key features, it appeals to both developers and users. - Key Features: The growth potential of the StarSeed ecosystem positions it as an attractive option for early investors seeking opportunities in DApps and smart contracts.