Cardano’s ADA token made a triumphant return to the $2 mark on Friday as weekly gains topped 50%. ADA reverses most of its three-month losses Data from Cointelegraph Markets Pro and TradingView showed ADA/USD quickly shooting higher during Friday after overcoming heavy resistance. At the time of writing, the pair circled $2.07 and was continuing to climb, gaining $0.25 overnight. At $2.07, this marked ADA’s highest price since May 18 and the start of the cross-crypto price rout engendered by China’s mining shakeout. The move was accompanied by impending technological upgrades, notably smart contracts on Cardano, something popular trader Lark …

Leading data oracle provider Chainlink has announced its successful launch on Arbitrum One — the beta mainnet deployment of layer-two Ethereum scaling solution, Arbitrum. Announced Thursday, the launch will allow developers building on Arbitrum One to access financial market data directly on-chain, providing enhanced functionality to decentralized exchanges, algorithmic stablecoins and other advanced decentralized finance (DeFi) products on the Arbitrum One network. Chainlink is now live on @Arbitrum One, providing hundreds of smart contract applications direct access to #Chainlink's decentralized services, starting with high speed, low-cost Price Feeds and expanding to more off-chain computations. — Chainlink - Official Channel (@chainlink) …

Ether’s (ETH) 81% rally over the last three weeks has caught professional traders off-guard, and this week’s upcoming options expiry reveals that of the $430 million in contracts set to expire, only 7% of the neutral-to-bearish put options will be available if Ether holds above $3,200 on Friday. Curiously, the crypto market is holding its recent strength despite the United States Senate’s “crypto-critical” infrastructure deal that recently passed. Although the $1-trillion infrastructure bill may encounter some lengthy hangups in the House of Representatives, the approved version did not clarify what constitutes a cryptocurrency broker, which is expected to harm the …

Decentralized finance (DeFi) has been a big part of the explosive growth seen across the cryptocurrency ecosystem in 2021, with decentralized exchanges like Uniswap and SushiSwap and lending protocols like Aave and Compound adding a new dimension of token utility. Data from Messari’s DeFi Assets index shows that over the past 30 days, a majority of the top 10 DeFi tokens gained more than 20%, with the top gainer, Terra (LUNA), seeing its price increase more than 116%. Three developments make the bullish case for DeFi tokens: a rapidly recovering total value locked, rising trading volumes on decentralized exchanges and …

PSG, a fan token launched by Paris Saint-Germain, resumed its uptrend on Thursday after Argentinian football superstar Lionel Messi confirmed that he was joining the French football club. The PSG/USD pair jumped by 10.57% to hit an intraday high of $41.90. The pair’s latest upside move followed an almost 40% bearish correction from its all-time high of $61.53 achieved on Tuesday amid speculation that Messi would sign a multi-year contract with Paris Saint-Germain. “Paris Saint-Germain is a possibility, yes,” Messi stated during his emotional farewell address after ending his 19-year stint at FC Barcelona on Sunday. However, he added that …

Argentine soccer superstar Lionel Messi, regarded as one of the game’s greatest players of all time, has reportedly made crypto fan tokens a part of the payment deal in his financial package with French club Paris Saint-Germain. The information comes from sources close to the matter, according to Reuters. Messi, 34, who had been at FC Barcelona since he was 13, this week signed a two-year contract with Paris Saint-Germain (PSG), with an option to extend for a third year. His departure from Barcelona, with which he won four Champions League titles, was sealed after Spanish La Liga’s financial fair …

This week the total cryptocurrency market capitalization bounced back to $1.9 trillion, which was a 20% weekly increase and the highest level seen since May 20. While the fresh bullish momentum attracted the attention of investors, Bitcoin's (BTC) move from $33,400 to $45,900 was pretty much in line with the rest of the market. Not every altcoin performed similarly, and only 14 of the top 100 from CoinMarketCap outperformed Bitcoin by 3% or more. ICP, RVN, VGX and EGLD followed Bitcoin's 40% rally Internet Computer (ICP) announced on July 30 that within two weeks of its launch, the Fleek application …

Bitcoin’s (BTC) strong recovery and march toward the psychological level at $50,000 has improved the overall sentiment in the crypto sector. That has boosted the total crypto market capitalization to over $1.9 trillion. Data from Glassnode shows a sharp increase in the dominance of Bitcoin transactions exceeding $1 million during the past few months. The on-chain analytics firm noted in a report that the transactions by the $1 million–$10 million group surged when Bitcoin corrected to $29,000 in July. This suggests that institutional investors may have been buying, which is “fairly constructive for price.” Further evidence of possible institutional buying …

The cryptocurrency market charged full steam ahead on Aug. 11 as the price of Bitcoin (BTC) climbed to $46,743, and bulls are now taking aim at the $48,000 resistance level as the next target. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were IoTeX (IOTX), WINk (WIN) and Dent (DENT). The Coinbase listing bump continues for IOTX IOTX continued its hot streak on Wednesday as the altcoins took the position as the top 24-hour gainer for the third day in a row. The gains appear to be connected to the Aug. …

USD Coin (USDC), Circle’s dollar-pegged stablecoin, seemingly lost one of its biggest competitive advantages over its main rival, Tether (USDT). Major crypto exchange Coinbase made an important change on the USD Coin page on its website following an audit that revealed that not all of USDC’s reserves were held in cash. This ran contrary to the previous statement that “each USDC is backed by one U.S. dollar held in a bank account.” Coinbase visitors are now greeted with a statement that says USDC is “backed by fully reserved assets” when they enter the USD Coin webpage. This new claim states: …

Among the more than 11,000 listed cryptocurrencies are a few projects that are revolutionary use cases capable of improving the way that society operates through the integration of blockchain technology. One such project is Helium, a decentralized peer-to-peer 5G wireless network that made headlines on Aug. 10, thanks to the successful completion of a token sale that raised $111 million from multiple investors, including Andreessen Horowitz. Data from Cointelegraph Markets Pro and TradingView shows that the price of HNT spiked 30% from a low of $14.03 to an intraday high at $18.14 following the fundraising announcement. There are three reasons …

Cardano (ADA) has been in the spotlight lately partially because of its early 2021 price performance and the fact that its huge fan base has been anxiously awaiting the launch of the network’s smart contract capability in the upcoming Alonzo upgrade. While the rise of decentralized finance (DeFi) took place and the total value locked in DeFi applications soared above $76 billion, Cardano investors have been waiting for nearly four years for the project to deliver on all its promises. Traders are now trying to determine whether the 50% rally since July 21 was backed by positive expectations or fundamentals. …