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Cardano Lands

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<p><strong>Cardano (ADA) price has struggled to break above the $0.30 resistance amid the ongoing crypto market rally. On-chain analysis examines how the team’s recent partnership deal could impact the bullish momentum.</strong></p>
<p>Cardano announced a milestone partnership deal on October 31. Will it drive ADA price above the elusive $0.30 territory?</p>
<h2>Cardano’s New Partnership Could Bolster Rising Network Activity</h2>
<p>On Tuesday, October 31, Cardano’s parent company, Emurgo, announced a partnership with the Institute of Blockchain Singapore (IBS). By “driving education of Cardano,” as highlighted in the announcement, the deal could further expand the adoption of products and services hosted on the Layer-1 blockchain network.</p>
<p>On-chain data shows that the timing of Cardano’s latest partnership aligns with the ongoing network activity trends.</p>
<p>According to <em>Santiment</em>, Cardano has attracted a consistently high level of network activity over the past week. The chart below illustrates that Cardano has witnessed a steady flow of network activity from at least 30,000 unique addresses in each of the last 9 days dating back to October 23.</p>
<p><img src="https://cnews24.ru/uploads/139/139f908b76ebbe460143c2a1c23af25a609699ff.png" /></p>
<p>Cardano (ADA) Daily Active Addresses. Source: Santiment</p>
<p>The active addresses metric is a daily aggregate of the number of unique addresses that carry out valid network transactions. Intuitively, increasing active addresses is a bullish indicator, signaling increased demand for blockchain-hosted projects and the underlying native coin.</p>
<p>Notably, historical trends show that the last time the Cardano network attracted a minimum of 30,000 unique addresses for up to 9 consecutive days was in July 2023, when prices rose toward $0.35.</p>
<p>This tacitly implies that Cardano’s current wave of network activity has a carrying capacity to drive prices above the $0.30 level.</p>
<h2>Whales Have Acquired 80 Million Coins in 9 Days</h2>
<p>The Whales’ trading activity is another vital indicator that could propel Cardano’s price above $0.30 in the days ahead. According to Santiment, the whales (addresses holding 1 million to 100 million ADA) acquired 80 million coins between October 23 and October 31.</p>
<p><img src="https://cnews24.ru/uploads/a96/a96d0f4181755fa6ae264f6414dd54863af7d8df.png" /></p>
<p>Cardano (ADA) Whales’ Wallet Balances. Source: Santiment</p>
<p>The Whale Wallet Balances metric helps to track real-time changes in the trading activity of large institutional investors. The chart above shows that over the past 9-days, Cardano whales have capitalized on the crypto market rally to acquire ADA coins worth approximately $24 million (ADA/USD ~$0.30).</p>
<p>Typically, when large investors keep buying during a rally, it suggests that they are confident of further price leg-up.</p>
<p>If this thesis holds, ADA holders can anticipate a decisive breakout above $0.30 in the days ahead.<br />ADA Price Prediction: $0.35 on the Horizon</p>
<p>Drawing an inference from the bullish indicators analyzed above, Cardano’s price will likely reclaim the $0.30 territory in the coming days. The Global</p>
<p>The Global In/Out of the Money data, which is an on-chain representation of ADA holders’s historical buying trends, also confirms this narrative. It, however, shows that Cardano is currently trading with two significant clusters of support and resistance.</p>
<p>As depicted below, the 105,440 addresses had bought 4.08 billion ADA at the maximum price of $0.30 will mount an initial resistance. But if the bullish can keep up the buying trend, they could force a breakout toward $0.35 as predicted.</p>
<p><img src="https://cnews24.ru/uploads/392/3922beabafa366d6e3815b41df166a62398e7b19.png" /></p>
<p>Cardano (ADA) Price Prediction | GIOM data | Source: IntoTheBlock</p>
<p>Alternatively, the bears could negate that prediction if ADA price dips below the $0.25 mark. But the bulls will likely mount a strong support buy-wall around $0.27.</p>
<p>The chart above shows that 361,500 addresses currently hold 5.55 billion ADA bought at the average price of $0.27. If they HODL, they will likely prevent a major Cardano price reversal.</p>
<p>Check Out the 9 Best AI Crypto Trading Bots to Maximize Your Profits</p>
<p><a href="https://beincrypto.com/cardano-partnership-drive-ada-price/?utm_source=CryptoNews&amp;utm_medium=app" target="_blank">Source</a></p>
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Elevenews

Cardano Lands Milestone Partnership but Will it Drive ADA Price Above $0.30?  - ELEVENEWS

<p style="margin-left:0px;">On 20 April 2023, Lucas Rosa, a Cardano Foundation initiate and one of the founders behind Aiken (named after Computing Pioneer Howard Aiken), published an article outlining the primary concepts of a <a href="https://cardanofoundation.org/en/news/aiken-the-future-of-smart-contracts/"><u>new language and toolchain for writing smart contracts on Cardano</u></a>. Then, the developer community had barely heard about Aiken, let alone use it for their dApp validators. Less than half a year later, TxPipe’s creation has made most major Cardano DeFi projects rethink their app concept and structure.</p><p style="margin-left:0px;">Projects like Lenfi, Indigo and Minswap have already acknowledged the merits of Aiken as a viable alternative to IOG’s Plutus-Tx. And for a reason — it introduces unparalleled efficiency and ease of use, making it attractive to developers of all levels of expertise.</p><p style="margin-left:0px;">Besides, Aiken’s game-changing properties have been further legitimized by appraisals from Solidity developers. Here’s how the programming language opened new prospects for projects like Lenfi:</p><h1 style="margin-left:0px;"><strong>Ideation and Beginning of the Aiken Project</strong></h1><p style="margin-left:auto;"><img class="image_resized" style="width:500px;" src="https://miro.medium.com/v2/resize:fit:1000/0*lUVD8bcF85WWOtqQ" alt="" loading="lazy"></p><p style="margin-left:24px;">Source: <a href="https://twitter.com/aiken_eng/status/1699535372819087671"><u>https://twitter.com/aiken_eng/status/1699535372819087671</u></a></p><p style="margin-left:0px;">As stated in <i>Aiken: The Future of Smart Contracts</i>, the original home of the project is TxPipe. The concept is an organic response to the dire need for a functional programming language for Cardano dApps. While the initial idea was started by Lucas Rosa, Kasey White, and Matthias Benkort, the list of contributors exceeds 20 developers. Despite failing to receive Catalyst funding in 2022, TxPipe went ahead with initializing the project. Later, the Cardano Foundation supported the project with engineering resources.</p><p style="margin-left:0px;">Surprisingly, it didn’t take long before developers started noticing the advantages the language named after Howard Aiken could offer. Some recent events that legitimize its significance include the <a href="https://twitter.com/i/spaces/1YqGoAoWwdlxv"><u>Kucoin Aiken X Space</u></a>, RareEvo 2023, <a href="https://twitter.com/i/spaces/1mnxeRpqDBEKX"><u>Bitrue CF AMA X Space</u></a>, and many other events and interviews. As the interest continues to grow exponentially, more developers compare Aiken to Solidity.</p><h1 style="margin-left:0px;"><strong>Top 3 Most Significant Improvements That Aiken Provides</strong></h1><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/0*prLFjNxRjwhTRvkH" alt="" loading="lazy"></p><p style="margin-left:24px;"><i>Prompt from the Aiken “Hello World” Lib</i></p><p style="margin-left:0px;">Of course, the views upheld by Aiken’s most significant contributors have certainly influenced its course of development. Undoubtedly, merits like open-source and transparent code are must-have prerequisites for mass adoption, and the smart contract language does not disappoint. Still, it shows way more than that and excels in almost every aspect compared to Plutus-Tx. Here are its three most notable features:</p><ol><li><strong>Easy to learn and use:</strong> Aiken leverages zero configuration with quick, user-friendly feedback. The built-in test framework simplifies writing and ensures proper and robust smart contract execution.</li><li><strong>Better performance and smaller scripts:</strong> The smart contract language enables cost-efficient smart contract development by allowing resource usage monitoring. Moreover, its low-level script argument injection provides control and flexibility in contract design.</li></ol><p style="margin-left:auto;">&nbsp;</p><p style="margin-left:0px;">3. <strong>Optimized tooling, Language Server Protocol (LSP), unit tests, and autogenerated documentation: </strong>The combination of LSP with auto-formatting and features like syntax highlighting significantly improve the coding experience. Moreover, the comprehensive library documentation makes the process intuitive and visually appealing, ensuring a consistent code style suitable for efficient collaboration.</p><h1 style="margin-left:0px;"><strong>Future outlook and development updates</strong></h1><p style="margin-left:auto;">&nbsp;</p><p style="margin-left:0px;">Over the course of its existence, Aiken has undergone regular updates that further boost its intuitiveness and efficiency. Upcoming upgrades include LSP and tooling improvements in preparation for switching from alpha to beta release. With over 10 releases and multiple libraries supported by documentation, Aiken presents a promising environment for all Cardano developers. Of course, the proof is in the numbers, and it’s more than evident that many projects are switching or already switched to the programming language.</p><h1 style="margin-left:0px;"><strong>5 Notable Projects Building in Aiken</strong></h1><ol><li><strong>Minswap</strong> — The popular Cardano DEX reinventing its code base using Aiken for its V2 release.</li><li><strong>Lenfi</strong> — Lenfi is the first Cardano lending protocol written in Aiken. Its <a href="https://github.com/aadafinance/aada_v1_aiken"><u>V1 rework</u></a> was open-sourced in March 2023. Its pooled lending version is already on testnet and awaiting imminent launch.</li><li><strong>Sundae</strong> — Sundae contributed to the cause with several reusable Aiken libraries called <a href="https://github.com/SundaeSwap-finance/aicone"><u>Aicone</u></a>.</li><li><strong>Encoins</strong> — The first privacy-oriented protocol on Cardano.</li><li><strong>Mehen</strong> — The first fiat-backed stablecoin protocol on Cardano.</li></ol><p style="margin-left:0px;"><strong>Honorable mention:</strong> Butane — Butane is a synthetics protocol that’s set to launch in Q1 2024. Its unique feature is atomic composability with multi-asset collateral, leveraging Aiken’s resource-conscious efficiency.</p><h1 style="margin-left:0px;"><strong>How Lenfi Benefits From Using Aiken</strong></h1><p style="margin-left:0px;">Apart from the aforementioned benefits, Lenfi takes advantage of the following Aiken features:</p><ol><li>Blueprint Stub Generation: This streamlines the integration process with off-chain components like Lucid. The blueprint generates a plutus.json file, which can then be used with Lucid’s type-generator, reducing human error and improving smart contracts’ security.</li><li>Multi Validators — this allows a spending validator and minting validator to share the same script hash. This method enables the team at Lenfi to design our architectural solutions more efficiently.</li></ol><h1 style="margin-left:0px;"><strong>About Lenfi’s Pooled Lending</strong></h1><p style="margin-left:0px;">Lenfi is a protocol enabling greater access to liquidity by locking Cardano native tokens as collateral. Its Aiken-built platform encompasses a multifaceted solution supporting both peer-to-peer and pooled lending. The latter will be the frontrunner, introducing brand-new features to Cardano DeFi. Some notable innovations include:</p><ul><li>Permissionless pool creation and tokenized pool ownership via Pool Manager NFTs;</li><li>Algorithmic APR with fixed loan rates;</li><li>Decentralized oracles and liquidations;</li></ul><p style="margin-left:0px;"><i>The upcoming pooled version of the Lenfi protocol is currently undergoing an audit by Anastasia Labs. Make sure you try it out on testnet </i><a href="https://testnet.lenfi.io/"><i><u>here</u></i></a><i>. You can read more information about its features in the </i><a href="https://github.com/aadafinance/materials/blob/main/Lenfi-Lightpaper.pdf"><i><u>Lenfi Lightpaper</u></i></a><i>.</i></p>

Cardano Feed

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Disrupting DeFi: How Aiken Changed the Cardano Landscape In Less Than A Year

<div>
 <p><a target="_blank" href="https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook.jpg"><img src="https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook.jpg" srcset="https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook.jpg 1200w, https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook-300x175.jpg 300w, https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook-1024x597.jpg 1024w, https://zycrypto.com/wp-content/uploads/2023/05/Cardanos-Transaction-Volume-Sees-Huge-Upsurge-Amid-Price-Fluctuations-ADA-Network-In-Bullish-Outlook-768x448.jpg 768w" alt="Cardano’s Transaction Volume Sees Huge Upsurge Amid Price Fluctuations: ADA Network In Bullish Outlook" title="Cardano’s Transaction Volume Sees Huge Upsurge Amid Price Fluctuations ADA Network In Bullish Outlook" /></a></p>
<p>Cardano has experienced a notable increase in decentralized application (dapp) transactions, highlighting the thriving growth of its ecosystem.</p>
<p>According to a report by crypto research firm Messari, the average daily dapp transactions on Cardano had risen by an impressive 49% Quarter-over-Quarter (QoQ). This activity surge was driven by various factors, including introducing new dapps and enhanced infrastructure within the <a target="_blank" href="https://zycrypto.com/cardano-ada-network-achieves-zero-downtime-milestone-amidst-high-user-engagement/">Cardano ecosystem</a>. As per the report, among the standout contributors to this growth was Minswap, an automated market maker (AMM), which experienced substantial growth, bolstering the overall increase in dapp transactions. </p>
<p>Furthermore, the Total Value Locked (TVL) in USD on Cardano exhibited a robust upward trajectory, marking a 9.7% QoQ rise and an astonishing 198.6% Year-to-date increase. Cardano’s ascent in TVL ranking across all blockchain networks was equally remarkable, moving from the 34th to the 21st spot.</p>
<figure><img src="https://lh6.googleusercontent.com/4Ab4h61jnFs0XGc4Pcowj0bpLjBIfAOiTMiSGND38Km5Dl8oSHZlq0LddgXq6-zrfQzztUVD8cDM055l59m4PAtcw4fhnE-AZNfEY7CUq5lBGyfgbspGdvBklVMEqvO7O8SI43yhHkpjuqQkOgjd-Q" alt /></figure>
<p>One of the biggest contributors towards this growth has been the development of Hydra Head, a layer 2 scaling protocol for Cardano. The innovation aimed at increasing transaction speeds and lower costs has attracted a lot of attention from creators who continue to build. Moreover, the continued efforts in sidechain development, notably by projects like Milkomeda C1, Midnight, Wanchain, and IOG’s sidechains team, have also enhanced interoperability and paved the way for new applications within the broader Cardano landscape. </p>
<figure><img src="https://lh5.googleusercontent.com/r7FNs9eY-aga30nDamqMXyO2DwwPycD4zZ9JP9P1Kgn9bEyupSx4tikyoPfvjL_KuUbn_uETKDcPdctMOpuoAVyvryp9KEXudkO8B5a2lW8-cK4JfDZ83mSKUcljtH7uekcYmf-BB4vjII1KKa5d6A" alt /></figure>
<p>Cardano has made significant strides in the past year, with key milestones such as the Alonzo hard fork enabling smart contracts on the network. This set Cardano apart in the competitive smart contract network space by entering markets like DeFi and NFTs. Last week, <a target="_blank" href="https://zycrypto.com/cardano-gears-up-for-mithril-mainnet-launch-bolstering-network-efficiency-and-versatility-for-ada/">Mithril,</a> an innovative stake-based signature protocol aimed at elevating the network’s speed and effectiveness through enhanced node synchronization efficiency, was also formally introduced on the Cardano mainnet.</p><div>
<p><span>Advertisement</span></p>
 <p>That said, with a diverse range of dapps, improved infrastructure, and the continual pursuit of enhanced scalability, Cardano stands poised to make a significant impact in the broader blockchain industry. This is so, especially considering that ADA’s utility extended beyond price speculation to settling network fees, stake pool registration, and staking to secure the network.</p>
<p>Meanwhile, despite the developments, ADA’s price and market cap continues to experience fluctuations. Interestingly, however, the cryptocurrency has maintained a resilient performance, with a 12.0% YTD increase. ADA was trading at $0.29 at press time, down roughly 0.40% in the past 24 hours.</p>
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Zycrypto

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Cardano (ADA) DApp Transactions Surge Over 45% Amid Network Activity Boom

<div><article><div><figure><img src="https://image.coinpedia.org/wp-content/uploads/2023/06/09171129/CARDANO.webp" alt="CARDANO" srcset="https://image.coinpedia.org/wp-content/uploads/2023/06/09171129/CARDANO.webp 1200w, https://image.coinpedia.org/wp-content/uploads/2023/06/09171129/CARDANO-300x157.webp 300w, https://image.coinpedia.org/wp-content/uploads/2023/06/09171129/CARDANO-1024x536.webp 1024w, https://image.coinpedia.org/wp-content/uploads/2023/06/09171129/CARDANO-768x402.webp 768w, https://image.coinpedia.org/wp-content/uploads/2023/06/09171129/CARDANO-150x79.webp 150w" /></figure></div><div><p>The Cardano landscape was jolted recently when investors were deceived in a significant fraudulent scheme, culminating in a loss of 60,000 ADA tokens. Such “rug pulls” are a sharp deviation from Cardano’s reputation as a trustworthy crypto network.</p><h2 id="how-it-happened"><strong>How it Happened</strong></h2><p><a target="_blank" href="https://twitter.com/BlockchainMages">Blockchainmages</a>, a GameFi project, created a promising buzz within the Cardano community. However, the project’s dazzling allure turned dark when it was exposed as a charade, orchestrating a severe financial blow for its backers.</p><p>To add to the investors’ misery, many of Cardano’s influential champions were caught off-guard by this ploy. Cardano Whale, notably, has been renowned for injecting substantial sums, sometimes as much as 100K ADA, into emerging DeFi initiatives.</p><p>Yet, malevolent actors exploited such benevolence, managing to siphon off over half of these magnanimous contributions. For the unversed, rug pulls in the crypto sphere are a devastating betrayal.</p><p>Project creators tout their endeavors as genuine, accumulate funds from hopeful backers, but instead of furthering the project’s mission, they vanish with the raised capital. Tragically, the victims of these schemes often have little to no avenues for retrieving their investments.</p><p>This incident is particularly jarring because it tarnished Cardano’s reputation, a protocol frequently revered as a paragon in the decentralized blockchain sector.</p><h2 id="a-disturbing-trend"><strong>A Disturbing Trend</strong></h2><p>Solidus Labs, a reputable name in blockchain risk assessment, unveiled alarming figures last year. Their study spotlighted a whopping 117,000 scam tokens launched through December 2022 – a 41% spike compared to the previous year. This translates to 15 dubious tokens cropping up every hour, ensnaring nearly 2 million unsuspecting investors.</p><p>Despite the stark warnings and increasing awareness, 2023 paints a grim picture. The frequency and audacity of such deceptive tactics have only intensified, urging the crypto community to tread with increased caution.</p></div> </article> <div><h4>Was this writing helpful?</h4><h5> <span>No</span> <span>Yes</span></h5></div> <div><p><a target="_blank" href="https://coinpedia.org/author/sohrab/"> <img alt="Photo of Sohrab Khawas" src="https://image.coinpedia.org/wp-content/uploads/2023/06/07124253/Profile-Sohrab-300x300.png" /> </a></p><div><p> Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.</p></div></div></div>

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