What is the Nomad Protocol?
Nomad is a new design for radically cheaper cross-chain communication without header verification. We expect operating Nomad to cut 90% of gas costs compared to a traditional header relay. To accomplish this, we took inspiration from optimistic systems (a la Optimistic Roll-ups). Nomad features many of the features we prize in an optimistic mechanism, like public verification, low gas fees, broad participation, but has a slightly different security model.

Nomad will form the base layer of a cross-chain communication network that provides fast, cheap communication for all smart contract chains and rollups. It relies only on widely-available cryptographic primitives (unlike header relays), has a latency of a few hours (rather than an ORU’s one week latency), and imposes only about 120,000 gas overhead on message senders.

Nomad has been designed for ease of implementation in any blockchain that supports user-defined computations. We will provide initial Solidity implementations of the on-chain contracts, and Rust implementations of the off-chain system agents.

Nomad is an implementation and extension of the Optics protocol (OPTimistic Interchain Communication).

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Nomad_2f0bce49d3.jpeg

thumbnail_Nomad_a235822855.png

Nomad_a235822855.png

Nomad

<article>
<div>
<ul>
<li><strong>The latest report by IOHK shows that Cardano hit 96 million transactions in the past week, proof that interest in the project remains high globally.</strong></li>
<li><strong>There are now 10 million native tokens, with 1,373 projects building on the network and over 84,000 Plutus scripts deployed.</strong></li>
</ul>
<hr />
<p>On-chain activity on Cardano remains high, with new technical upgrades sparking renewed interest from the community, the latest report from IOHK shows.</p>
<p>According to the weekly outlook report, the network hit 96.38 million transactions in the past week, which competes with some of the biggest networks in the space.</p>
<blockquote>
<p>It’s your favorite time of the week: <a target="_blank" href="https://twitter.com/hashtag/EssentialCardano?src=hash&amp;ref_src=twsrc%5Etfw">#EssentialCardano</a> development update time! </p>
<p>Check out this week’s highlights and get the lowdown on the core technology, wallets and services, smart contracts, and scaling and governance developments. <a target="_blank" href="https://t.co/PQtRSZSEfw">https://t.co/PQtRSZSEfw</a></p>
<p>— Input Output (@InputOutputHK) <a target="_blank" href="https://twitter.com/InputOutputHK/status/1834568468458352684?ref_src=twsrc%5Etfw">September 13, 2024</a></p></blockquote>
<p>Some of the other figures from the IOHK <a target="_blank" href="https://www.essentialcardano.io/development-update/weekly-development-report-as-of-2024-09-13">report</a> are:</p>
<ul>
<li>1,373 projects are now building on Cardano.</li>
<li>Users have deployed 10.36 million native tokens on the Cardano blockchain.</li>
<li>The network now has 1.33 million delegated wallets.</li>
<li>Users have deployed 165,546 token policies.</li>
<li>Over 84,000 Plutus scripts.</li>
</ul>
<p>Beyond the figures, IOHK revealed that it had deployed a new upgrade in the past week that bars stake credentials from withdrawing rewards if they are not delegated to any DRep and are only backed by a key hash. Beyond this, the focus was mainly on debugging for the core ledger team.</p>
<p>The performance team was busy with improvements under node v.9.1.1. They also:</p>
<ul>
<li>created a local tool to replicate the observed increase in UTXO-HD RAM usage.</li>
<li>established a new performance baseline named ‘Age of Voltaire’.</li>
<li>started testing the adjusted Nomad backend</li>
</ul>
<h3>Scaling, Voltaire and Catalyst</h3>
<p>Cardano is in <a target="_blank" href="https://www.crypto-news-flash.com/june-marks-a-new-era-cardano-node-9-0-and-the-age-of-voltaire/">the age of Voltaire</a>, where governance <a target="_blank" href="https://www.crypto-news-flash.com/cardano-news-ada-price-targets-breakout-with-launch-of-decentralized-govtool-on-mainnet/">has been relegated fully</a> to the members who register to become decision-makers as DReps. This transition was led by Intersect MBO, a member-based organisation for the Cardano blockchain, whose members include IOHK.</p>
<p>In its report, IOHK called on Cardano ecosystem members to participate by applying to join the committee and board, with the application period ending on September 27. Intersect MBO has been publishing the names and bios of the applicants as they receive them.</p>
<p>“If you or someone else can make a meaningful contribution, please consider applying for a seat or encouraging others to do so,” the report said.</p>
<p>Back to the development, the Mithril team focused on decentralising the signature orchestration this past week. This included building a buffer store for individual signatures that arrive before an aggregator processes them as well as refactoring the state machine.</p>
<p>“Finally, the team continued preparing the next distribution and investigated a breaking change introduced in a Hydra CI dependency.”</p>
<p>Meanwhile, <a target="_blank" href="https://www.crypto-news-flash.com/cardano-news-hoskinson-responds-to-proposal-to-burn-500m-in-ada-from-treasury/">Cardano founder Charles Hoskinson</a> delivered a keynote presentation on Saturday at an event in Tokyo. The detailed presentation delved into the advancements of Cardano—and the broader blockchain technology—in the past decade, the lessons that Hoskinson and IOHK have learned and how they have adopted, and what the future holds for the sector.</p>
<blockquote>
<p>🎬 🍿 Catch <a target="_blank" href="https://twitter.com/IOHK_Charles?ref_src=twsrc%5Etfw">@IOHK_Charles</a>' in-depth keynote from Rooted in Research: Pushing the Boundaries of Blockchain Technology in Tokyo. </p>
<p>In this talk, he explores a decade of advancements in distributed systems, the lessons learned, and the ongoing challenges shaping blockchain's future.…</p>
<p>— Input Output (@InputOutputHK) <a target="_blank" href="https://twitter.com/InputOutputHK/status/1834849590652067851?ref_src=twsrc%5Etfw">September 14, 2024</a></p></blockquote>
<p>On Wednesday, Hoskinson will take to the stage again, this time in Singapore at Token2049 to discuss fourth-generation cryptocurrencies.</p>
<p>ADA trades at $0.3492, dipping marginally in the past day, but is 3% higher on the weekly chart.</p>
<hr /><h6>Recommended for you:</h6><div><div><h2>Subscribe to our daily newsletter!</h2></div><p><span>          No spam, no lies, only insights. You can unsubscribe at any time.</span><br /></p></div>
</div>
<p>This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.</p> </article><section>
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<p>Steve, a seasoned blockchain writer with eight years of dedicated experience, brings a wealth of knowledge and passion to the world of cryptocurrency. His journey as a crypto enthusiast spans even longer, fueling his continuous dedication to this transformative technology. Steve's true calling lies in the potential of blockchain to drive positive change, particularly in addressing the pressing issues confronting developing nations. With a deep-rooted commitment to advancing the adoption of blockchain solutions, he strives to bridge the gap between innovation and impact, making the world a better place through blockchain's incredible potential.
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</section>

Crypto News Flash (EN)

Cardano Hits 96M Transactions Milestone, IOHK Unveils Key Ecosystem Updates for ADA Growth

<div>
<p>Cardano Founder Charles Hoskinson responded to Ben Armstrong’s comments about ADA status as a ‘dead coin’. Hoskinson’s reply sparked a conversation about the state of the crypto industry and what’s valued in projects.</p>
<h2>Cardano And Polkadot Labeled ‘Dead Coins’</h2>
<p>On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) and Polkadot (DOT). The influencer took X to explain his previous comments, stating that both cryptocurrencies were dead.</p>
<p>In a YouTube Video from April, Armstrong <a href="https://www.youtube.com/watch?v=Be_PMH6euf0" target="_blank">said</a> that ADA was “dead for real.” The crypto influencer believed that this time “was different.” To him, investors had to question whether they were okay “standing on ideals” while watching their portfolio take a hit.</p>
<p>Per the influencer, ADA’s disappointing <a href="https://www.newsbtc.com/news/cardano/cardano-breaks-out-of-falling-wedge-pattern-analyst-predicts-70-rally-for-ada/" target="_blank">performance</a> was because it doesn’t have the same backing as other tokens. He explained that “numbers go up” for institutionally backed tokens.</p>
<p>Armstrong also noted that, despite not having “awful” institutional numbers, ADA can’t compete with Ethereum (ETH) or Solana (SOL). Moreover, the influencer considers that “crypto is changing,” investors are turning their heads toward new projects to feel like they are early.</p>
<p>On X, Armstrong reiterated his opinion about ADA and DOT, stating that both were “dead to institutions.” However, he clarified the implications of his statement. The token’s <a href="https://www.newsbtc.com/news/bitcoin-100000-cardano-dead/" target="_blank">dead coin</a> status doesn’t mean ADA and DOT won’t pump this bull run. To him, the tokens will offer returns to investors, but they will be “mid.”</p>
<h2>Charles Hoskinson Claps Back</h2>
<p>Cardano’s founder <a href="https://x.com/IOHK_Charles/status/1808638804573790459" target="_blank">responded</a> to Armstrong’s comments, questioning the crypto influencer’s stance. To Hoskinson, his logic goes against the ethos of crypto. “I remember when the point of cryptocurrencies was to replace institutions instead of acting out a scene from deliverance,” the post read.</p>
<p>Armstrong’s comments ignited a discussion in the replies, with several crypto users disagreeing with his take. One X user agreed with the Cardano founder’s reply, wondering, “When did crypto become people begging for institutional investment?”</p>
<p>Another user <a href="https://x.com/allYourBaseNfT/status/1808555977483878690" target="_blank">stated</a> that if Satoshi Nakamoto had shared Armstrong’s logic, the crypto industry and none of us would be here. “Hinging the success of a decentralized chain on centralized entities is hustling backward,” they added.</p>
<p>Nonetheless, some crypto investors agreed with the crypto influencer comments. A community member <a href="https://x.com/CryptoNomad15/status/1808641425426526507" target="_blank">considered</a> that, unlike Hoskinson, Armstrong is “at least adding content and valued entertainment into the space.” This has been a constant <a href="https://www.newsbtc.com/news/breath-of-fresh-air-viral-cardano-girls-video-sparks-conversation-about-the-project/" target="_blank">criticism</a> toward the Cardano ecosystem and its founder.</p>
<p>Cardano users defended the project, claiming that the blockchain is one of the “few that haven’t lost the DeFi plot.” Many also concurred that the ecosystem is not there for VC funds or Armstrong but for its users.</p>
<p>Ultimately, crypto investors agreed that if a project has a strong community and technology, more user and institutional investments “will follow the network effect.”</p>
<p>At the time of writing, ADA is trading at $0.3861, a 4.4% decline in the last 24 hours.</p>
<p><img src="https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?resize=788%2C421&amp;ssl=1" alt="Cardano, ADA, ADAUSDT" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=1102 1102w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=768 768w, https://i0.wp.com/www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?resize=788%2C421&amp;ssl=1 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=750 750w" /> Source: <a target="_blank" href="https://www.newsbtc.com/news/cardano-ada-founder-claps-back-at-dead-coin-comments-issues-reminder-to-the-community/">NewsBTC.com</a></p>
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Crypto Breaking

Cardano (ADA) Founder Claps Back At ‘Dead Coin’ Comments, Issues Reminder To The Community

<div>
						<figure>
							<img src="https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?fit=860%2C572" alt="Cardano, ADA, Charles Hoskinson" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=1920 1920w, https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/traxer-fL_7F7rwvS0-unsplash.jpeg?w=1140 1140w" />						</figure>
						<div>
																<p>Cardano Founder Charles Hoskinson responded to Ben Armstrong’s comments about ADA status as a ‘dead coin’. Hoskinson’s reply sparked a conversation about the state of the crypto industry and what’s valued in projects.</p>
<h2>Cardano And Polkadot Labeled ‘Dead Coins’</h2>
<p>On Wednesday, crypto influencer Ben Armstrong, known as BitBoy Crypto, shared his thoughts on Cardano (ADA) and Polkadot (DOT). The influencer took X to explain his previous comments, stating that both cryptocurrencies were dead.</p>
<p>In a YouTube Video from April, Armstrong <a href="https://www.youtube.com/watch?v=Be_PMH6euf0" target="_blank">said</a> that ADA was “dead for real.” The crypto influencer believed that this time “was different.” To him, investors had to question whether they were okay “standing on ideals” while watching their portfolio take a hit.</p>
<p>Per the influencer, ADA’s disappointing <a href="https://www.newsbtc.com/news/cardano/cardano-breaks-out-of-falling-wedge-pattern-analyst-predicts-70-rally-for-ada/" target="_blank">performance</a> was because it doesn’t have the same backing as other tokens. He explained that “numbers go up” for institutionally backed tokens.</p>
<p>Armstrong also noted that, despite not having “awful” institutional numbers, ADA can’t compete with Ethereum (ETH) or Solana (SOL). Moreover, the influencer considers that “crypto is changing,” investors are turning their heads toward new projects to feel like they are early.</p>
<p>On X, Armstrong reiterated his opinion about ADA and DOT, stating that both were “dead to institutions.” However, he clarified the implications of his statement. The token’s <a href="https://www.newsbtc.com/news/bitcoin-100000-cardano-dead/" target="_blank">dead coin</a> status doesn’t mean ADA and DOT won’t pump this bull run. To him, the tokens will offer returns to investors, but they will be “mid.”</p>
<h2>Charles Hoskinson Claps Back</h2>
<p>Cardano’s founder <a href="https://x.com/IOHK_Charles/status/1808638804573790459" target="_blank">responded</a> to Armstrong’s comments, questioning the crypto influencer’s stance. To Hoskinson, his logic goes against the ethos of crypto. “I remember when the point of cryptocurrencies was to replace institutions instead of acting out a scene from deliverance,” the post read.</p>
<p>Armstrong’s comments ignited a discussion in the replies, with several crypto users disagreeing with his take. One X user agreed with the Cardano founder’s reply, wondering, “When did crypto become people begging for institutional investment?”</p>
<p>Another user <a href="https://x.com/allYourBaseNfT/status/1808555977483878690" target="_blank">stated</a> that if Satoshi Nakamoto had shared Armstrong’s logic, the crypto industry and none of us would be here. “Hinging the success of a decentralized chain on centralized entities is hustling backward,” they added.</p>
<p>Nonetheless, some crypto investors agreed with the crypto influencer comments. A community member <a href="https://x.com/CryptoNomad15/status/1808641425426526507" target="_blank">considered</a> that, unlike Hoskinson, Armstrong is “at least adding content and valued entertainment into the space.” This has been a constant <a href="https://www.newsbtc.com/news/breath-of-fresh-air-viral-cardano-girls-video-sparks-conversation-about-the-project/" target="_blank">criticism</a> toward the Cardano ecosystem and its founder.</p>
<p>Cardano users defended the project, claiming that the blockchain is one of the “few that haven’t lost the DeFi plot.” Many also concurred that the ecosystem is not there for VC funds or Armstrong but for its users.</p>
<p>Ultimately, crypto investors agreed that if a project has a strong community and technology, more user and institutional investments “will follow the network effect.”</p>
<p>At the time of writing, ADA is trading at $0.3861, a 4.4% decline in the last 24 hours.</p>
<figure><img src="https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=860&amp;resize=860%2C460" alt="Cardano, ADA, ADAUSDT" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=1102 1102w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=860&amp;resize=860%2C460 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/ADAUSDT_2024-07-04_08-29-42.png?w=750 750w" /><figcaption>ADA’s performance in the five-day chart. Source: ADAUSDT on <a href="https://www.tradingview.com/x/Qxbripts/" target="_blank">TradingView</a></figcaption></figure>
<p>Featured Image from Unsplash.com, Chart from TradingView.com</p>
															</div>
						<div>
		<p><img alt="Rubmar Garcia" src="https://secure.gravatar.com/avatar/1a5c5c83a8ac34388cefe7d0e708bab3?s=80&amp;d=mm&amp;r=g" srcset="https://secure.gravatar.com/avatar/1a5c5c83a8ac34388cefe7d0e708bab3?s=160&amp;d=mm&amp;r=g 2x" />		</p>
		<div>
	<p>Rubmar is a writer and translator who has been a crypto enthusiast for the past four years. Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology.</p>
		<div>
			<p>From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations.</p>
<p>In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn’t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored.</p>
<p>At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. </p>
<p>After the failure of her home country’s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education.</p>
<p>Moreover, the peculiar nature of the crypto community sparked Rubmar’s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies ­–or her favorite memes.</p>
<p>In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school’s marching band. </p>
<p>She also has a passion for learning new languages and cultures, having set the goal to learn another six languages ­– currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats –hers or stray.</p>
<p>In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.</p>		</div>
		</div>
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Cardano (ADA) Founder Claps Back At ‘Dead Coin’ Comments

<div><article><div><figure><img src="https://image.coinpedia.org/wp-content/uploads/2023/12/15111223/cardano.webp" alt="cardano" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/15111223/cardano.webp 1200w, https://image.coinpedia.org/wp-content/uploads/2023/12/15111223/cardano-300x157.webp 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/15111223/cardano-1024x536.webp 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/15111223/cardano-768x402.webp 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/15111223/cardano-150x79.webp 150w" /></figure></div><div><p>Cardano has consistently appeared on the list of top gainers, due to its price experiencing significant increases and surpassing crucial resistance levels, especially after Bitcoin hit a $52K surge. Consequently, there’s been a noticeable increase in Cardano’s on-chain activities, suggesting a possible breakout in the coming hours. Nevertheless, this upward trend could face pullbacks, challenging the patience of buyers at various levels.</p><h2 id="h-cardano-s-rising-tvl-attracts-buyers">Cardano’s Rising TVL Attracts Buyers</h2><p>In the past 24 hours, Cardano’s price saw a total liquidation of approximately $1.26 million in positions, with both sellers and buyers playing equal roles. Recently, ADA’s price has seen an uptick in trading activity, as the open interest increased by more than 4.7%, reaching $430 million and leading to a spike in volatility.</p><figure></figure><p>This surge came following an uptick in TVL, attracting buyers recently. According to data, the Cardano ecosystem witnessed a remarkable growth in Total Value Locked (TVL) in USD, surging 166% quarterly and 693% annually. Indigo became the top protocol by TVL, surpassing Minswap. The TVL of Cardano’s stablecoins grew by 37% quarterly and 673% annually. Currently, the TVL for Cardano is at $401.5 million.</p><figure></figure><p>IntoTheBlock reports indicate an increase in Cardano’s large transaction volume, jumping from a low of $10.7 billion to a recent peak of $16.1 billion. This uptick shows rising interest from major investors, contributing to the recent surge in ADA’s price.  </p><p>Additionally, the number of profit-generating addresses has increased following ADA’s recent climb above $0.55, with approximately 2.4 million addresses, or 55%, currently in profit, while 42% of holders are experiencing losses. This could encourage investors to retain their holdings or even buy more, increasing the chances of a short-term pump.</p><p>Consequently, this scenario could lead to a significant drop in Netflow to its lowest negative level, as exchange reserves decline, reducing the likelihood of selling pressure.  </p><p>Buyers managed to push <a target="_blank" href="https://coinpedia.org/news/cardano-price-prediction-ada-price-poised-to-hit-8-by-2025/">Cardano</a> out of its downward trending channel and are now holding the ADA price well above the moving averages. However, sellers are defending further surges above $0.61 level. As of writing, ADA price trades at $0.592, declining over 1.9% from yesterday’s rate.</p><figure></figure><p>With the 20-day EMA trending upwards at $0.58 and the RSI declining from the overbought region, there’s a marginal advantage for sellers. However, should the price remain above $0.57, it’s probable that the ADA/USDT price could again test buyers’ patience at $0.62. If successful, we might see a potential breakout toward $0.69 level. However, this level will likely be dominated by bears.</p><p>On the other hand, a decline below the moving averages and $0.57 level could trap numerous bullish investors. This scenario might lead to a wave of panic selling, sending the price towards the robust support level at $0.47. However, this level might again witness a strong accumulation from bulls.</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/shayan/"> <img alt="Photo of Shayan Chowdhury" src="https://image.coinpedia.org/wp-content/uploads/2022/10/06131803/telegram-cloud-photo-size-5-6177179973115294139-x-300x300.jpg" /> </a></p><div><p> Shayan is a digital nomad and a professional journalist. He delivers high-quality engaging articles to Coinpedia through his in-depth research and analysis.</p></div></div></div>

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