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Cardano {ADA} price prediction for next week; Daedalus Wallet adds newsfeed as a feature

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Cardano is ranked at #12 ahead of Monero in the market. The trading volume recorded stands at roughly $68.525 million, while the supply has 25.927 billion ADA coins involved as part of circulation. The total market cap of Cardano amounts to $1.08 billion as of this instant. The price descended at a rate of 2.69% in the course of the past 24-hours; this, in turn, brought ADA all the way down towards the $0.041682 mark where it presently holds.

In accordance with the candlestick chart linked to the ADA/USD pair on tradingview [based on data obtained from the Bittrex Exchange], the digital currency is being lightly influenced by bearish pressure prevalent in the market. The daily RSI [for 14 periods] has dipped to 51.85, which indicates that ADA lies right amidst the neutral zone.

The final peak tied to the Awesome Oscillator bore the brown shade, which signifies the arrival of bearish momentum. The Incentivized testnet [related to the Shelley phase] is scheduled to go LIVE in November and will allow users to earn ADA via staking [Cardano employs the PoS protocol- learn more about the Ouroboros algorithm to understand how the entire process works]. recently included ADA as well as XLM [i.e. Stellar Lumens] on their platform thus expanding the number of payment options available for customers around the world. This move has been a pleasant surprise for the Cardano community. In an AMA session conducted a few months ago, Charles Hoskinson [Ethereum co-founder and the mind behind Cardano] had teased the possibility of a Bitfinex listing, which is yet to transpire. Bitfinex is without a doubt a leading exchange [in spite of frequent run-ins with the law] and if ADA gets added to such a widely used network, the price may climb towards $0.05 in no time.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.