Cardano Maintains Market Leadership; Will Prices Hype?

Cardano remains one of the solid and potential networks in space. As a result, ADA receives strong support from the crypto community and investors inside and outside the industry. The popularity of Cardano has allowed the network to expand its global reach. This is very helpful in driving the massive token adoption of Cardano.

Cardano has never stopped developing its tech to provide a seamless experience for all users. For example, the network recently launched Sundaeswap (SUNDAE), a decentralized exchange utilizing the Cardano blockchain.

On the other hand, Cardano maintains its position as one of the top 10 cryptocurrencies in Coingecko. Currently, the cryptocurrency is trading at an average of $1.08, with a 24-hour trading volume of nearly $800 million.

ADA kept its trading position above the Arnaud Legoux (ALMA) moving average, an uptrend position. If ADA maintains this momentum, ADA may have a chance to boost its price and break its resistance at $1.25. This event will bring joy to all traders and investors holding ADA coins.

However, things were different when the price fell below the ALMA indicator. In other words, the cost of cryptocurrencies may fall.

Meanwhile, the cryptocurrency’s Relative Strength Index (RSI) remained in the 70-30 range. This means traders can trade with confidence without fear of a major price reversal.

Avalanche Growth Triggers Third-Party Cross-Chain Bridges

Avalanche (AVAX), a Layer 1 Proof-of-Stake (PoS) blockchain network, is getting a new cross-chain bridge from Umbria Network to help traders create between the Ethereum mainnet and the Avalanche transfer blockchain fluidity.

The Avalanche blockchain supports multiple virtual machines, including WebAssembly (WASM) and Ethereum Virtual Machine (EVM), allowing different subchains to integrate specific ways of working.

Multiple virtual machine support makes connecting to Avalanche easy. The network launched its official Ethereum bridge in 2021 to enable the bidirectional transfer of ERC-20 and ERC-721 tokens between the two blockchains.

Its growth as a network, along with its native token AVAX, has seen considerable gains in recent months, leading to the creation of third-party cross-chain bridges.

Narni is a new Umbria Network cross-chain bridge that promises 90% lower transaction fees than the official AVAX bridge. The platform claims they customize the system using separate asset liquidity pools and a custom oracle protocol that reduces bridging computational complexity, lowering costs by up to 90%.

Talking about the role of AVAX and cross-chain bridges, Umbria co-founder and co-lead developer Barney Chambers said that the Avalanche blockchain supports decentralized applications that are not economically viable on Ethereum.

Cross-chain bridges have become the lifeblood of the decentralized finance ecosystem, especially if Ethereum’s gas fee problem doesn’t go away and looks set to continue into the transition to ETH 2.0. Avalanche, BNB Chain, Solana, and Tezos are becoming popular blockchains with a cross-chain bridge support.

Twitter Allows Users To Send And Receive Ethereum Tips Locally

In September 2021, Twitter enabled Bitcoin payments as the first cryptocurrency payment option available through its tip jar. Moreover, on Wednesday, the social media platform added a slew of new payment services to these existing tipping options, including ether (ETH).

Users who wish to receive ETH tips can simply enable the platform’s tip feature and add the Ethereum address to the appropriate section of their profile. However, adding the ENS domain name instead of the full alphanumeric address was unsuccessful and resulted in an error box indicating invalid punctuation.

Speaking of Bitcoin, tips can be sent through the Lightning Network, which sends payments through the Strike app. However, Twitter did not provide further details on the ETH tip. Currently, the prompt is only available for iOS and Android phone users. According to Twitter, users keep 100% of the tips they receive.

The company explains that tips can be used to show support, appreciation, help, or reward anyone you want. Additionally, other supported payment services include Cash App, GoFundMe, Patreon, Wealthsimple, and Venmo.

Recently, Twitter introduced a feature that allows Twitter Blue users to upload non-fungible tokens or NFTs as their profile pictures. However, this feature is only available on iOS devices.