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Arsen Islamov

Cardano (ADA) was named the most undervalued cryptocurrency

Cardano

Cryptocurrency Cardano (ADA) is the most undervalued in the market. The oversold level of the asset exceeds the indicators of two years ago, due to which the majority of altcoin holders are in losses. This was reported by crypto analyst Ali Martinez in his Twitter. He came to this conclusion after analyzing MVRV indicator (Market Value to Realized Value) from analytical company Santiment, which shows the difference between profit or loss of investors who bought the asset last year. According to this indicator, holders of ADA are on average 26% loss. Such oversold value has not been seen even since the March 2020 coronavirus pandemic collapse in the financial markets. Cardano is trading at $1.16 According to the cryptocurrency exchange, Cardano is trading at $1.16 as of Feb. 11. During the week, the asset’s exchange rate rose 13%. At the same time, the capitalization of the altcoin is estimated at $38.4 billion. The company believes that the increase in trader activity on the asset can also be judged by the fall in the inflow of funds in the accounts of large investors. And they cite IntoTheBlock data: it has fallen by 94% in 3 months, while in the last 30 or 7 days it has fallen by 26.5% and 32%, respectively. At the same time, there is an outflow (i.e., outflow) of funds from such accounts in almost similar negative values. This may indicate a decline in institutional interest in the asset as a whole. ADA’s historical high was set in September 2021 at above $3. But since then, Cardano’s price has fallen 61%. According to WhaleStats, a service that tracks large moves in the virtual asset market, Cryptocurrency Whale bought 5 million Cardano (ADA) for $6 million on February 9. The transaction fee was $2. Meanwhile, millionaire investors control 24.87% of Cardano’s circulating supply (about 8.34 billion of the 33.57 billion ADA), according to analyst firm IntoTheBlock. In addition, since mid-December-2021, the number of addresses holding between $10,000 and $1 million in ADA has increased by 15,000%

Tesla spent $1.5 billion on bitcoin a year ago

Tesla holds BTC

$1.5 billion bitcoin investment in 2021 from Tesla resulted in a $101 million loss due to the first cryptocurrency’s devaluation. The value of the company’s bitcoin assets surged by over half a billion dollars at the same period. While owning…

Bitcoin (BTC) is ready for the record

Bitcoins (BTC)

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Crypto coins appear every 45 minutes

crypto coins

The number of crypto coins increased sharply in January. In January 2022, the number of cryptocurrencies existing in the market increased by 1 thousand. This implies that each new project of cryptocurrency coin appeared every 45 minutes. According to CoinMarketCar,…

Will Ripple win the case?

Ripple and SEC

The cryptocurrency market has been waiting more than a year for the conclusion of the lawsuit between Ripple and the U.S. Securities and Exchange Commission (SEC). In a process that has been ongoing since December 2020, experts believe that Ripple…

Vitalik Buterin received back money from India

Vitalik Buterin

India COVID-Crypto Relief, an Indian fund to help fight the coronavirus epidemic, has returned $100 million worth of Shiba Inu coins to Ethereum cryptocurrency creator Vitalik Buterin. In May 2021, the man donated funds to help in the fight against…

Cryptowinter: Bitcoin goes into hibernation

Cryptowinter

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