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Breaking News: Celsius Founder Alex Mashinsky Receives 12-Year Prison Sentence

Cardano (ADA) Could Break Above $0.5 Very Soon, Here’s Why

Best Owie
Best Owie
2 years ago
3 mins read
Cardano (ADA)

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Cardano (ADA) is one of the cryptocurrencies that is still holding quite well despite the current crypto market climate. The digital asset has seen an incredible run since 2023 started and has not let up since then. As ADA continues to trend in the green, bullish indicators are piling up for the cryptocurrency, suggesting that its run is far from over.

The Last Piece Of The Cardano Puzzle Is Here

One thing that has always been associated with Cardano is the constant development that has been going on with the blockchain. Now, the network has been the butt of many jokes in the crypto industry with some calling it a ‘ghost chain’ or a ‘zombie chain’ but that has not deterred its development team from keeping up with its roadmap.

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The next stage in Cardano’s roadmap which is the Voltaire upgrade is scheduled to take place later this year. Now, with Voltaire, Cardano plans to become a fully decentralized blockchain. This means that, unlike other proof of stake networks, the blockchain will no longer be dependent on Input Output Global (IOG), the developer behind Cardano.

The roadmap describes the ‘Age Of Voltaire’ as “the final pieces required for the Cardano network to become a self-sustaining system.” With Voltaire will come governance for the network, meaning that ADA holders will now be able to vote on proposals, as well as a treasury system that will be implemented.

Developers of the network plan to put Cardano’s future in the hands of the community. This way, stakers will vote on important developments, effectively driving and controlling the future of the blockchain.

Cardano (ADA) price chart from TradingView.com

ADA stuck in a tug-of-war for the $0.4 level | Source: ADAUSD on TradingView.com

Why ADA Could Continue To Rally

Over the years, whenever there was a new development for Cardano, the price of ADA has always rallied. In the case of the Alonzo Upgrade which brought smart contracts capabilities to the blockchain, the price of ADA had risen to a new all-time high of $3.10.

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Given this, the expectation is that ADA is going to rise as the upgrade draws closer, which has been the case so far. The coin is now battling bears at the $0.4 level, making this the important resistance to beat. If the bulls succeed, then ADA is primed for a rally toward $0.5. However, if the digital asset were to fall below $0.35 once more, it would be devastating for it as it would trigger a quick descent back to $0.3.

ADA is currently moving against the crypto bear trend with 3.46% gains in the last 24 hours that have brought its price to $0.4. Its trading volume is also up significantly, rising 59% to approximately $450 million in one day.

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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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.

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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.

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