• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Cardano

3 Reasons Why 2021 is Shaping up to be The Year of Cardano

Samuel Wan by Samuel Wan
2 weeks ago
in Cardano
Reading Time: 2min read
3 Reasons Why 2021 is Shaping up to be The Year of Cardano
Advertisement

At the start of the year, Cardano’s market cap was hovering around $5.6bn. However, in five weeks, a flood of bullish sentiment has propelled this figure to $28.4bn. This was enough to leapfrog the likes of XRP and Polkadot to take the fourth spot on CoinMarketCap.

Likewise, over this period, the price of ADA is up +420%. A rejection at $1 earlier this morning was somewhat expected. This historical resistance level has held since January 2018. Nonetheless, with a convergence of bullish fundamentals coming to fruition, analysts remain optimistic going into 2021.

Cardano weekly chart

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Source: ADAUSD on TradingView.com

Fundamental Reasons to be Bullish on Cardano

Cardano’s smart contract era is well on the way. Developers IOHK launched the Mary Goguen testnet last week.

At this moment, user-defined tokens are being tested and monitored before the mainnet rollout. Assuming all goes to plan, devs will deploy on the mainnet at the end of this month.

“The deployment of Goguen ‘Mary’ marks a significant stage in Cardano’s journey. When Mary turns her crypto key within the network, we will unlock the mechanism for users to create their own tokens for a myriad applications: Decentralized Finance (DeFi), and countless other business use cases.”

On March 26, 2021, the D-parameter will reach zero. When this happens, the Cardano network becomes 100% decentralized, meaning IOHK will have given up all block production control. From then on, independent stake pool operators will be fully responsible for the task.

Cryptocurrency is often criticized for the lack of real-world application, especially when viewed through a first-world lens where trading or speculation forms the bulk of its use.

But Director of African Operations at IOHK, John O’Connor, revealed the firm is about to secure a contract with an African government. There are no further details on who or how. But it will see millions of users onboarded into the Cardano ecosystem for real-world use.

ETH-ADA Showdown About to Hot up

Despite Cardano’s impressive market cap gains of late, Ethereum, with its $200bn market cap, still towers over the competition, making it the smart contract platform to beat.

However, analysis of the situation puts Cardano in the ascendency. Meanwhile, Ethereum, more specifically ETH 2.0, is years away from being finished. This leaves time for competing chains to make their mark.

Commenting on the recent growth of the ecosystem, IOHK CEO Charles Hoskinson said we earned it. He spoke passionately about doing things the hard way and not shying away from the challenges.

“there’s an inevitability behind Cardano, not only are we here to stay, we’re also going to make a very big impact and put a big f*cking dent in the universe because we earned it.”

With so much happening in the Cardano ecosystem right now, many believe bigger things are coming in 2021.

Tags: adausdADAUSDTCardano
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Related Posts

Cardano’s ADA Hits 3-Year High as Bets on Ethereum Rivals Boom

Cardano’s ADA Hits 3-Year High as Bets on Ethereum Rivals Boom

2 weeks ago
Why Cardano Will Outshine Ethereum 2.0 According to IOHK Boss

Why Cardano Will Outshine Ethereum 2.0 According to IOHK Boss

3 weeks ago
Cardano Protocol Hard Forks in Preparation For Goguen Upgrade

Cardano Protocol Hard Forks in Preparation For Goguen Upgrade

2 months ago
Small Cardano Stake Pool Operators Raise Concerns Parameter Increase

Small Cardano Stake Pool Operators Raise Concerns Parameter Increase

3 months ago
New Contender Emerges Despite Wikipedia’s Begrudging Listing of Cardano

New Contender Emerges Despite Wikipedia’s Begrudging Listing of Cardano

4 months ago
New Cardano Roadmap Puts March 2021 Date For Goguen Mainet Rollout

New Cardano Roadmap Puts March 2021 Date For Goguen Mainet Rollout

4 months ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Bitcoin Gaming Platform FreeBitco.in Acquires 3.75 Billion FUN Tokens

February 26, 2021

60-Minute IFO, 187 Times Over-Raised, 40 Times the Price, 98 Million US Dollar Marketcap: Berry Data Has Become a Bright Star on BSC

February 26, 2021

Get Your Brand New Tokens on Defiqa’s Presale

February 26, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.