Cardano this Week’s Biggest Gains, while Ethereum Losses Continue

The crypto world is ever-changing thanks to the high volatility of the cryptocurrencies. Here’s a look at some of the biggest winners and losers in this past week.

Cardano Price Analysis: ADA sees an upward trend of 3% this past week

Cardano has shown a slight upward trend of 3% this past week. The crypto asset had a four significant price variation touching a high of 0.047540 USD in this period.

At the beginning of the week, Cardano price was trading at 0.0473 but started weakening after that. It traded at 0.04447 USD with a loss of 6.04%. However, it shot up by 6.93%, which saw it reach its highest point of the week at 0.047540 USD.

Price Prediction of Cardano

The recent growth of ADA could be an indication that the price could be experiencing some growth. But, the coin could see marginal growth or stagnation. The details have been discussed below:

Coinbase Announces a Further $300 Million

Coinbase, one of the top cryptocurrency exchanges on the globe, announced that its value base had risen by further $300 million this past week. It has revealed that series E equity round led by Tiger Global Management. The total valuation of the company is at $ 8 billion, with a stated goal of accelerating assets and digital assets.

The funding is to be used for expansion of fiat/cryptocurrency markets by the digital currency funding. It also plans on adopting new cryptocurrency onto its platform, distributing utilities application and development of the same related to cryptocurrency.

Bakkt to Launch Bitcoin Futures

The platform backed by Intercontinental Exchange, earlier in the week announced plans to start trading bitcoin futures from the 12th of December. Every contract is supposed to consist of one bitcoin, with a minimum capacity of $ 2.50 per bitcoin. Bakkt rose to the limelight in August but is already showing tremendous potential to upend the cryptocurrency space.

EOS Appears to Be Stuck in its Current Price Level with a Slight Variation

EOS/USD pair has given an average of the  price range this past week. The performance fluctuated. This was because the horizontal channels also acted as the price fundamental support level and resistance reflected it. The market price dropped from the initial $ 3.609 this past week to $ 3.5225.

The Short-Term Losses of Ethereum Likely to Continue

On the 14^th of August, Ethereum saw a loss of over 8 percent. The price recovered with a 2 percent gain this past 24 hours. At the time of press, Ethereum indicated a positive outcome in the market with the growth mentioned earlier.

Ethereum has shown recovery after the slump, with the price hiking over 7 percent since the last significant drop.

The price of Ethereum has been on a downward curve these past few weeks, but it is on an upward trend. The bears are likely to continue with their hold on ETH soon.