Cardano is a blockchain platform that aims to offer a scalable, sustainable and secure solution for decentralized applications and smart contracts. Some of the benefits of buying Cardano are:
- Cardano is more efficient than other cryptocurrencies that use the proof-of-work system, as it consumes less energy and resources. Cardano uses the proof-of-stake system, which rewards users who participate in validating transactions and maintaining the network. - Cardano has an experienced and renowned founder in the world of cryptocurrencies: Charles Hoskinson, who was also one of the co-founders of Ethereum. Hoskinson leads the team at IOHK, the company that develops Cardano with a scientific and academic focus - Cardano has a high capacity to process a large number of transactions per second, which gives it a competitive advantage over other platforms such as Bitcoin or Ethereum. Cardano can reach 257 transactions per second, and plans to reach one million transactions per second with an additional layer in its blockchain - Cardano is in constant innovation and development, based on research and peer review. Cardano has recently released its Goguen upgrade, which enables the creation and execution of smart contracts on its network. This opens a world of possibilities for decentralized applications, the financial sector and other sectors - Cardano has a limited supply of ADA tokens, which may lead to greater demand and appreciation of its cryptocurrency. The maximum supply of ADA is 45 billion, and there are currently about 32 billion in circulation.
An ETF is an exchange-traded fund that aims to replicate the behavior of a stock, sector index or any other type of underlying asset. Unlike traditional mutual funds, ETFs can be bought and sold at any time during the trading session, just like a stock. ETFs offer broad diversification and passive management, meaning they typically have lower fees than active investment funds.$BTC
It fell back to the strong support of $0.24 on October 19, but the bulls successfully held the level. The positive divergence on the RSI indicates that the bearish momentum is reducing.
Daily chart of the ADA/USDT pair. Source: TradingView The price has reached the moving averages, which are likely to act as a strong obstacle. If the bulls overcome this resistance, the ADA/USDT pair could rise first to $0.27 and subsequently to $0.28. The bears are expected to keep a fierce eye on this area.
If the price drops below $0.28, it will be a sign that the pair could form a range for a few days. On the downside, the bears will have to pull the price below $0.24 to signal the resumption of the downtrend. The next support is at USD 0.22 and then at USD 0.20