NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin’s Dead Act Sets Rival Cardano Towards Its 15-Month High

Yashu Gola
Yashu Gola
1 year ago
3 mins read
cardano, cryptocurrency, adausdt, adausd, adabtc

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • As Bitcoin sails on calm waters, its rival Cardano is up more than 36 percent already in the third quarter.
  • Traders looking to diversify from the top yet flat cryptocurrency could pump Cardano further into July.
  • The upside sentiment takes cues from the altcoin’s upgrade to proof-of-stake at the end of this month.

When bitcoin traders get bored, they pump altcoins.

So it appears in the last week’s price action across the alternative cryptocurrency universe. As Bitcoin trends inside a 0-1 percent trading range, its top blockchain rivals, including Ethereum, XRP, Bitcoin Cash, Chainlink, and others, have surged higher.

But the most notable performed in the top-10 crypto index is Cardano. The sixth-largest blockchain project’s market cap has surged by more than 36 percent entering the third quarter. Meanwhile, its native token ADA has also posted a similar parabolic move to the upside.

cardano, cryptocurrency, adausdt, adausd, adabtc

Cardano's ADA in parabolic upside rally since its March 2020 low. Source: TradingView.com

The Get-Rich Cardano Pump

It is safe to assume that a lot of speculation is rising on Cardano. The project did not do well enough after crashing by over 95 percent from its January 25 all-time high. The first version of its mainnet launch featured token transfers on a federated blockchain – nothing new about that.

But the narrative started shifting entering 2020. IOHK, the core development team that backs Cardano, deployed the code for the project’s second upgrade, called “Shelley.” It will get activated by the end of July – and with it will come Cardano’s long-awaited proof-of-Stake (PoS) protocol featuring staking rewards.

$ADA #CARDANO

No chill.

Massive movements.

Is this an entry? I don't believe so. Is this a short entry? I don't believe so, either.

Uptrends -> buy the dip strategy. pic.twitter.com/20ec5u3sEj

— Michaël van de Poppe (@CryptoMichNL) July 8, 2020

Now all of what is said above is a promise. Cardano has neither confirmed a successful hard fork nor has proven that it is a better PoS project than its top rivals Tezos and Chainlink. Moreover, the Ethereum’s switch from proof-of-work to proof-of-stake next year is also going to increase the competition.

But the announcement appears bullish to the crypto land. It is enough for traders to leave aside their Bitcoin holdings for a while and hedge into Cardano’s ADA to “buy the hype.” As a result, the ADA/BTC exchange rate stands  55 percent higher month-to-date.

More Room to Grow

Wilson Withiom of data aggregator service Messari explained the hype in a note published last week. The research analyst credited the term “staking rewards” as the primary catalyst behind ADA’s rally (in both the US dollar and bitcoin-enabled markets). Excerpts:

“Prospective stakers scooping up ADA and those speculating on the allure of staking rewards have likely driven this upward trend […] Staking is more lucrative early on since participants experience a diminishing return as more stakers join the network.”

Mr. Withiom, meanwhile, added that the Cardano token has “plenty of room for growth.”

That leaves ADA under the spell of magnetizing upside targets, starting with the nearest ones at 1,613 sats, followed by 1,944 sats and beyond. The levels have been taken from a Fibonacci retracement graph drawn from ADA’s April 3, 2019’s top to January 14, 2020’s bottom.

cardano, cryptocurrency, adausdt, adausd, adabtc

ADA upside targets plotted on a Fibonacci retracement graph. Source: TradingView.com

Therefore, as long as Bitcoin remains unattractive, boring, and stable, traders may keep cashing on the hypes created by neighboring tokens. Meanwhile, a breakout move in the top cryptocurrency could prompt altcoins, including ADA, to pare part of their recent gains.

The ADA/BTC has hit its 15-month high, anyway.

Photo by Avi Naim on Unsplash

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

加密周引爆比特幣與山寨幣牛市狂潮 TOKEN6900強勢飆升中!

美國國會迎來「加密周」,比特幣衝刺關鍵12.5萬美元關口,山寨幣全面爆發,梗幣明星 TOKEN6900(T6900) 狂慶50萬美元里程碑! 目前T6900預售價僅為 $0.006575,或將成為下一...

estherw 2 hours ago
Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin has reached new milestones this week, briefly breaking above the $123,000 mark earlier today before retracing slightly to $121,812...

Samuel Edyme 2 hours ago
Bitcoin

Bitcoin Is Not Stopping At $123,000 — Technical Indicators Point To $140,000 Top

Bitcoin (BTC) has reignited market excitement after smashing through the $123,000 level. Currently, technical indicators, surging liquidity, and macroeconomic tailwinds...

Scott Matherson 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Price Breaks $100K

Bitcoin Price Retreats After Hitting ATH — Bulls Pause for Breath

Aayush Jindal 11 minutes ago

【全新升級】Bitunix整合TradingView圖表系統 打造移動裝置專業加密交易 

Peter Chow 24 minutes ago

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

Mark Mak 1 hour ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    1 hour ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    6 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    7 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    8 hours ago
  • Bitcoin Hyper

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.