Within the first moments that the leader Bitcoin [BTC] signaled breaking above the long on-going declining trend connecting the highs since March 7 [two weeks of descending], the whole market reversed upwards recovering very speedy. One of the highlights is Cardano who is performing very promising today with 24.00% gain in the last 24-hours.
Following the dip at $0.1240, which mark has been experienced since early December 2017, the pair ADA/USD moved up to $0.1822 in just a day leading the BTC market for 14.35%. Recommended to be on the lookout for the $0.2000 level as breaking above could secure opened gates for more increase – more than one attempt will most likely take place to fly over the mentioned resistance.
It is obvious that many buyers were waiting for an opportunity like this one to buy-in and sell later for a quick and strong profit, but an undeniable impact for the market in general had the announcement of G20 putting crypto regulation to hold.
According to Rueters the global watchdog that drove through a welter of banking and market reforms after the financial crisis said it will pivot more toward reviewing existing rules and away from designing new ones.
The Financial Stability Board (FSB), which coordinates financial regulation for the Group of 20 Economies, also resisted calls from some G20 members to regulate cryptocurrencies like bitcoin.
On the other hand, Cardano has just announced its 1.1.0 upgrade, marking the first major release for the platform since its mainnet launch at the end of Sep.
As the sixth most valuable cryptocurrency on the market, with a value worth $4.7 billion, Cardano was founded by Charles Hoskinson, the co-founder of Ethereum, and is aiming to ‘provide a more balanced and sustainable ecosystem,’ for digital currencies.
The update targets various issues that had contact with users on the Daedalus platform, the coins wallet that holds ADA.
“Daedalus will detect when the time on a user’s machine is out of sync with the global time and will display an error message asking the user to fix the issue. Before this feature was added when there was a time difference of 20 seconds or more, the Cardano node was unable to connect to the network and validate the blockchain, and Daedalus would be held on the loading screen with the “Connecting to network” message.”
Very recently, according to a release made by the Cardano team – the platform will be headed for improving the developmental conditions in Africa.
One of the major issues that is needed to be dealt with in Africa is landownership. Based on the blog, the platform is planning to prepare-up a virtual blockchain property register which using GPS coordinates will pin-point down land. In the same manner, the owner of the property will be verified and in which case ownership can be transferred very easily and at lower cost.