The cryptocurrency markets have seen some interesting momentum today, even though no major price changes have occurred as of yet. Cardano is trying to note some solid gains right now, albeit reaching $0.08 seems to be a stretch too far. Even so, the positive momentum among altcoins can make for a rather interesting weekend.
Cardano Price Rise Isn’t Happening Yet
After the troublesome year 2018 has proven to be so far, it is evident the remainder of 2018 will not necessarily offer any relief. All cryptocurrencies are still on the mend, and it seems the momentum isn’t changing in favor of either Bitcoin or altcoins at this time. Even small gains like the ones materializing today can offer a welcome reprieve.
Over the past 24 hours, there has been a relatively small gain for Cardano. Thanks to a 2% gain in both the USD and BTC departments, things are not looking too bad for this particular altcoin. Combined with a relatively normal trading volume, it can lead to a value which continues to rise gradually throughout most of the weekend.
An interesting announcement by IOHK showed the future of Cardano looks pretty good. A recent audit conducted by Kudelski Security shows the Icarus implementation for Cardano will be good to go. Although there may still be some tweaking to be done, the reference implementation is expected to make a big impact on this altcoin’s ecosystem moving forward.
IOHK announced the recent audit conducted by Kudelski Security for Icarus, IOHK’s reference implementation for a lightweight wallet developed by the engineering team. You can read the announcement and full report here: https://t.co/QfAEFIQS42 #Cardano
— Input Output (@InputOutputHK) October 20, 2018
Coincidentally, Charles Hoskinson, the person responsible for creating Cardano as well as a few other altcoin projects, is confident fundraising doesn’t make a project succeed. He specifically singles out EOS in this regard, as that project still has the most successful and lengthiest ICO to date. Even so, money can’t solve every problem, especially not where coding is concerned.
#Cardano’s Charles Hoskinson on #EOS Big Fundraising: It Doesn’t Mean You’ll Succeed https://t.co/Ls80tSRA0W
— [CRYPTO] Power to the people (@CryptoAbsorbed) October 20, 2018
Traders and speculators are never far away when a cryptocurrency market makes a move in either direction. For Cardano, it seems things are looking pretty good right now. Diemme Breiig is confident Cardano will get a massive bounce in the coming days, albeit reaching the perceived target will be a lot more difficult than originally anticipated.
$ADA might have made 1-2, 1-2 here. Looking for a small retrace and a bounce from that trendline before going for our target 🤞 $BTC #crypto #cardano pic.twitter.com/nMeiqpjAgy
— Diemme Breiig (@diemme_breiig) October 20, 2018
All of the current cryptocurrency market conditions look a bit unusual right now. The overall trading volume is on the same level as the rest of the week, yet the prices are not necessarily moving all that much. Instead, there is a lot of sideways action taking place right now. For Cardano, it seems a move to $0.08 might be attempted, but its success remains to be determined.