{"id":541965,"date":"2023-07-10T11:14:50","date_gmt":"2023-07-10T11:14:50","guid":{"rendered":"https:\/\/wncen.com\/?p=541965"},"modified":"2023-07-10T11:14:50","modified_gmt":"2023-07-10T11:14:50","slug":"cardano-price-momentum-bid-fizzles-out-despite-new-payment-feature","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/cardano-price-momentum-bid-fizzles-out-despite-new-payment-feature\/","title":{"rendered":"Cardano Price Momentum Bid Fizzles Out Despite New Payment Feature"},"content":{"rendered":"

Cardano is buzzing with excitement as one of its prominent community members, known as ADA Whale, unveils a groundbreaking decentralized payment service called Hydra Pay.\u00a0<\/span><\/p>\n

This eagerly anticipated solution comes at a crucial moment for Cardano’s native cryptocurrency, ADA, which has recently faced significant challenges following the United States Securities and Exchange Commission’s classification of the token as a security.<\/span><\/p>\n

In the midst of these regulatory challenges, ADA managed to defy the odds and soar with an impressive 11% gain, according to an <\/span>ADA price report<\/span><\/a>. However, as of the time of writing, the price of ADA has once again dipped into the red zone.<\/span><\/p>\n

Steady Development Activity But Declining ADA Price Raises Concerns<\/strong><\/h2>\n

Cardano, a prominent blockchain platform, is currently experiencing a slight setback as the price of ADA has shed 0.3% of its value in the past 24 hours, with a seven-day decline of 3.0%, according to data from <\/span>Coingecko<\/span><\/a>. As of now, ADA is valued at $0.285.<\/span><\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
Despite the recent fluctuations in ADA’s price, Cardano’s development activity (see figure below) has remained stable throughout 2023, in stark contrast to the erratic swings witnessed in the latter half of 2022.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
\n
Source: Santiment<\/pre>\n<\/div>\n
Related Reading: Litecoin (LTC) Price Weakens Below $100 As Bears Extend Their Grip<\/a><\/div>\n
<\/p>\n
ADA market cap currently at $9.9 billion. Chart: TradingView.com<\/a><\/pre>\n
ADA Whale’s Tweet Fuels Anticipation Of Crypto’s Price<\/strong><\/h2>\n
According to ADA Whale<\/span><\/a>, Hydra Pay holds the promise of revolutionizing micropayments within the Web3 realm. While no official announcement has been made by Cardano regarding this prospective feature, the mere teaser has ignited a wave of anticipation among fans and industry observers alike.<\/span><\/p>\n
\n
Hydra Pay: a near-instant settlement L2 that can be integrated in all major Cardano wallets that\u2019s effectively never congested, used for micropayments etc. Might become second nature for every Cardano user. Exciting and hopefully coming soon https:\/\/t.co\/JdLqx8RkYu<\/a> pic.twitter.com\/Vj2ELqBIiR<\/a><\/p>\n
\u2014 ADA whale (@cardano_whale) July 8, 2023<\/a><\/p><\/blockquote>\n
The anticipation surrounding Hydra Pay stems from its potential to positively impact the price of ADA in the near term. Micropayments play a crucial role in the emerging Web3 ecosystem, enabling seamless and cost-effective transactions for various online services, content creators, and decentralized applications (dApps). <\/span><\/p>\n
If Hydra Pay delivers on its promise of revolutionizing this space, it could attract significant attention and usage within the Cardano ecosystem.<\/span><\/p>\n
Related Reading: Significant Surge: Large Shiba Inu Token Transactions Capture Spotlight<\/a><\/div>\n
Increased adoption of Hydra Pay could lead to a surge in demand for ADA tokens, as users seek to utilize the payment service for their micro-transactions. This heightened demand, coupled with the limited supply of ADA tokens, has the potential to drive up the price of ADA in the market.<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).<\/em><\/p>\n
Featured image from <\/span>Cardanians.io (CRDNS pool) – Medium<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Cardano is buzzing with excitement as one of its prominent community members, known as ADA Whale, unveils a groundbreaking decentralized payment service called Hydra Pay.\u00a0 This eagerly anticipated solution comes at a crucial moment for Cardano’s native cryptocurrency, ADA, which has recently faced significant challenges following the United States Securities and Exchange Commission’s classification of the token as a security. In the midst of these regulatory challenges, ADA managed to defy the odds and soar with an impressive 11% gain, according to an ADA price report. However, as of the time of writing, the price of ADA has once again dipped into the red zone. Steady Development Activity But Declining ADA Price Raises Concerns Cardano, a prominent blockchain platform, is currently experiencing a slight setback as the price of ADA has shed 0.3% of its value in the past 24 hours, with a seven-day decline of 3.0%, according to data from Coingecko. As of now, ADA is valued at $0.285. Source: Coingecko Despite the recent fluctuations in ADA’s price, Cardano’s development activity (see figure below) has remained stable throughout 2023, in stark contrast to the erratic swings witnessed in the latter half of 2022.\u00a0 Source: Santiment Related Reading: Litecoin (LTC) Price Weakens Below $100 As Bears Extend Their Grip ADA market cap currently at $9.9 billion. Chart: TradingView.com ADA Whale’s Tweet Fuels Anticipation Of Crypto’s Price According to ADA Whale, Hydra Pay holds the promise of revolutionizing micropayments within the Web3 realm. While no official announcement has been made by Cardano regarding this prospective feature, the mere teaser has ignited a wave of anticipation among fans and industry observers alike. Hydra Pay: a near-instant settlement L2 that can be integrated in all major Cardano wallets that\u2019s effectively never congested, used for micropayments etc. Might become second nature for every Cardano user. Exciting and hopefully coming soon https:\/\/t.co\/JdLqx8RkYu pic.twitter.com\/Vj2ELqBIiR \u2014 ADA whale (@cardano_whale) July 8, 2023 The anticipation surrounding Hydra Pay stems from its potential to positively impact the price of ADA in the near term. Micropayments play a crucial role in the emerging Web3 ecosystem, enabling seamless and cost-effective transactions for various online services, content creators, and decentralized applications (dApps). If Hydra Pay delivers on its promise of revolutionizing this space, it could attract significant attention and usage within the Cardano ecosystem. Related Reading: Significant Surge: Large Shiba Inu Token Transactions Capture Spotlight Increased adoption of Hydra Pay could lead to a surge in demand for ADA tokens, as users seek to utilize the payment service for their micro-transactions. This heightened demand, coupled with the limited supply of ADA tokens, has the potential to drive up the price of ADA in the market. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Cardanians.io (CRDNS pool) – Medium<\/p>\n","protected":false},"author":557,"featured_media":541978,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84005,142,1144,12332,8686,88591,4735],"class_list":["post-541965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ada-price","tag-altcoins","tag-btcusd","tag-cardano","tag-ethusd","tag-hydra-pay","tag-price-action"],"acf":[],"yoast_head":"\nCardano Price Momentum Fizzles Out Despite New Feature<\/title>\n<meta name=\"description\" content=\"Cardano is buzzing with excitement as one of its prominent community members, known as ADA Whale, unveils a groundbreaking decentralized payment service\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Cardano Price Momentum Bid Fizzles Out Despite New Payment Feature","url":"http:\/\/wncen.com\/news\/cardano-price-momentum-bid-fizzles-out-despite-new-payment-feature\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/cardano-price-momentum-bid-fizzles-out-despite-new-payment-feature\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-58.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-58.png?fit=677%2C418"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ada price","altcoins","btcusd","cardano","ethusd","hydra pay","price action"],"dateCreated":"2023-07-10T11:14:50Z","datePublished":"2023-07-10T11:14:50Z","dateModified":"2023-07-10T11:14:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Cardano Price Momentum Bid Fizzles Out Despite New Payment Feature\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-price-momentum-bid-fizzles-out-despite-new-payment-feature\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/cardano-price-momentum-bid-fizzles-out-despite-new-payment-feature\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-58.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-58.png?fit=677%2C418\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ada price\",\"altcoins\",\"btcusd\",\"cardano\",\"ethusd\",\"hydra pay\",\"price action\"],\"dateCreated\":\"2023-07-10T11:14:50Z\",\"datePublished\":\"2023-07-10T11:14:50Z\",\"dateModified\":\"2023-07-10T11:14:50Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-58.png?fit=677%2C418","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/541965"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=541965"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/541965\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/541978"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=541965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=541965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=541965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}