HM Treasury changes course on collecting data around unhosted crypto wallets

Survey Predicts Cardano (ADA) Hitting $58 By Year 2030 – And Finish 2022 At $2.72

Cardano (ADA) is now trading at $0.992, a 2.73% drop from Friday’s value of $1.021. The cryptocurrency’s price has been on a declining trend since the start of February. Within the next 24 hours of trading, ADA is expected to trade at a low of $0.989 and a high of $1.04. It has a 24-hour trading volume of USD 1,415,938,600, with a market cap lower than previous weeks. Cardano’s price may retrace by 23.6% on its first level, according to the Fibonacci Retracements level. The FR level indicates where support and resistance are likely to integrate. In the medium term, the support level for ADA is at $0.823, although this level isn’t very stable.  If the price rises from this level, it will reach $0.98, its previous high, and then heighten towards $2. Cardano (ADA) Seen Reaching $58 Cardano’s future appears to have great hopes of further trading and an increase in stock prices. Its volatility is also expected to reap bountiful harvests as investments in its tokens become more mainstream. In its most recent panel survey, Finder — a comparison website and money app — investigated the case of Cardano and its price potential. Related Reading | New Cardano Milestone Might Be The Push It Needs To Scale $1.50 According to the researchers consulted, the price of Cardano will touch $58 by 2030. The group also forecasted that the smart contracts-enabled, peer-evaluated currency will end the year at $2.72. Its price could be headed in that direction as soon as investors build some upward momentum, with the current trend offering a buying opportunity. ADA total market cap at $32.88 billion in the daily chart | Source: TradingView.com New System Updates  Cardano has updated its message and system node activity throughout this week during wallet synchronization to include more information. They also improved the stake pool list’s UI and modified the Catalyst voting system to be dynamic, allowing modifications to be implemented without the need for new releases. The IOSimPOR network of Cardano’s system was reviewed again to merge new improvements. They looked at Tvar state tracing and considered integrating it with other tests to ensure robustness during IOSim and IOSimPOR testing procedures. Related Reading | Cardano (ADA) Still In A Slump This Week – Can It Hit $1.45? The team also monitored and analyzed Mainnet consumption while working on the first E2E test for its network data diffusion. Meanwhile, Cardano’s non-profit foundation is joining forces with several academic institutions to study and analyze all areas of the blockchain. Lancaster University, for example, is working on a “reference treasury model” to discover a long-term solution to funding Cardano’s blockchain development as a whole. Cardano has a circulating supply of 33,626,597,057 ADA coins and a maximum supply of 45,000,000,000 coins. Featured image from CryptoSlate, chart from TradingView.com

Axie Infinity Revenue Continues To Collapse – Here’s Why

Axie Infinity, a blockchain-based play-to-earn game, generated a measly $988,400 in total revenue the previous week, which is the first time that the popular P2E game that allows you to earn SLP coins, amassed lower than 1 million since February 2021. From an hourly standpoint, AXS price has spiraled down by 1.69% or roughly $0.35 compared to values from an hour ago. This looks like a reversal from the previous results, showing the price moving up. Today, the AXS price is down by 0.87% or $0.18 from yesterday. This reverses the price movement that transpired the previous day, which registered an upward trend. The 100-hour time frame proves to be most consistent, showing a bearish or downward trend. Suggested Reading | Bitcoin Market Cap Shed Over $120-B Last Month – How Much More Can It Lose? Axie Infinity – Still The Most Popular P2E? Axie Infinity, the most popular P2E, has seen a trailblazing success in 2021. Axie Infinity managed to generate over $215 million at its peak fame on August 8, 2021. Additionally, Sky Mavis, the game’s creator, has also procured over $152 million in funding or a valuation of $3 billion in a funding round headed by Andreessen Horowitz. However, things went through rough spots as the game dropped in November 2021 due mainly to its burn mechanism and imbalance of issuing SLPs. BTC total market cap at $862 billion on the daily chart | Source: TradingView.com There was an overload of Smooth Love Potion (SLP), Axie’s in-game token, which was issued with no means to burn or destroy the tokens thoroughly. Axie suffered from inflation as its SLPs depreciated in value and failed to incentivize players. Sky Mavis has recently added a burn mechanism into Axie, but it did not work. AXS Consistently Moving Down AXS has been consistently moving down ever since it reached its all-time high in November 2021 with a price of $166.09. The downward trend resulted in AXS reaching a low price of $16.20 in May. The support area is around $20, but AXS did not achieve this since July of 2021. Axie Infinity has been moving up since May 28, which is a rebound of 52% from the lows it suffered in May. Suggested Reading | Crypto Community Sees Nearly 80% Upside For Ethereum By End Of June The downward movement was then prefaced with a bearish forking movement, as seen in the weekly RSI, which shows an intact trendline. The only time a trend can be coined as bullish is when the trendline is broken. If the bounce lingers on, the next resistance area would be at around $50. Featured image from Bitcoin News, chart from TradingView.com

Here’s why the growth of token staking could be bullish for Lido (LDO)

A renewed focus on decentralization, the steady growth of DeFi’s liquid staking sector and investment from institutions could benefit LDO token in the long-term.