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Cardano is a relatively inexpensive cryptocurrency. It’s also prone to large price swings, which appeals to traders looking for quick action. Cardano’s proof-of-stake technology allows the Cardano network to validate transactions without the need for a possibly more expensive proof-of-work methodology. Recently, though, some traders have been looking at the platform for a possible link to non-fungible tokens, or NFTs.

NFTs are digital goods or collectibles that are held on a digital ledger or blockchain, similar to how a cryptocurrency token might be. 

COTI, a blockchain-based payment platform, said that its collaboration with IOG and the Cardano Foundation is continuing, and that Wolfram Alpha would use its ADA Pay solution for an NFT auction. 

Bidding and paying in NFT auctions with ADA is now streamlined thanks to ADA Pay’s innovation.

Core Technology Introduced:

  • ADA payments for NFTs.
  • Bidding and auction mechanisms.
  • Custody for auctioneers.
  • Rapid balance analysis.
  • New APIs.

Orion, a DeFi ecosystem and crypto trading platform, has announced a cooperation with IOHK, a blockchain engineering firm, to incorporate the Cardano blockchain into Orion’s trading terminal. This connection also aims to add significant transaction volume to the platform using Orion’s offerings.

Orion’s long-term goal is to provide access to both regular and non-traditional financial markets. One of Orion’s reasons for cooperating with IOHK and incorporating Cardano is that it requires a strong, scalable blockchain. 

Despite the fact that layer-one smart contracts are still in the works, brave Cardano engineers have recently devised methods for creating bootleg non-fungible tokens. A Cardano staking pool operator, ADA Technology Management (ATM), shared two NFT images they claimed to have minted on the network.

The NFT Ecosystem is presently being built in Cardano, and the majority of these projects are still in the early stages of development. Cardano has the potential to become one of the most popular platforms for issuing, curating, and transferring NFTs from one party to another in the long run.

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Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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‘Be Patient- Bitcoin Price To Recover’ Says A Popular Analyst

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The global market capitalization for the past couple of days is experiencing an extreme drain. Most of teh crypto assets are registering a consecutive 5 red daily candles in a row. The huge selling pressure accumulated on the Bitcoin price has compelled it to bottom below $38,000. By trending very close to the support levels around $37,000, the fear of BTC price revisiting levels around $34,000 hovers. 

Despite the bearish sentiments surrounds the assets, yet it is believed that the price will recover very soon. A popular analyst Alan Santana, suggests his followers to patiently wait until the price flips the bears. He also said that some people are already giving up Bitcoin, falling into the trap of ‘Panic Selling’. And also asked his followers not to join them, rather wait until the next pump.

Also Read: Dogecoin Price Feared To Continue With A Bearish Trend, Is $0.2 At Stake?

btcchart

The price seems to be following the path led by the analyst as it bounced significantly on visiting the support zone at $37,978. With a significant bounce, the price could surge close to $40,000 or above. However, yet the chances of forming lower lows still hover the rally. And in such a case, the price could even visit the lower support at $35,700 and rebound. 

However, $35,700 are among the strong support levels and if in case, the Bitcoin price fails to sustain, then a plunge below $34,000 may be imminent. But considering the indicators, the RSI has already bounced back and MACD showcases ease in the selling volume. And hence considering the factors a bounce above $40,000 may be on the way for BTC price.

Also Read: Cardano(ADA) Price Spikes As Bitcoin & Ethereum Yet To Manage The Trembled Situation!

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