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Cardano (ADA) Technical Analysis: Slides Further Away From $0.07, Downtrend Likely to Continue

Published 05/08/2019, 08:04 AM
Updated 05/08/2019, 09:21 AM
 Cardano (ADA) Technical Analysis: Slides Further Away From $0.07, Downtrend Likely to Continue

ADA is standing out as one of the better performing assets among the the top 10 cryptocurrencies today, as the market turns red in response to the breaking news that Binance has been hacked.

At the time of writing, ADA is reporting a -2.66% decline against the US dollar while other leading projects are showing 4-7% losses. 24hr trading volume has thinned down by $12 Million compared to yesterday’s peak volume of $61 Million, but trading activity appears to be slowly increasing again after this morning’s developments.

Over the last few months, the Cardano project has made considerable progress with its brand awareness and social media engagement, after the Cardano Foundation underwent a corporate restructuring on November 13, 2018.

According to data from Similarweb, the Cardano.org website has seen a 2X increase in traffic since February, as well as a 40%...

This article appeared first on Cryptovest

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