{"id":173407,"date":"2023-04-01T13:26:31","date_gmt":"2023-04-01T13:26:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=173407"},"modified":"2023-04-01T13:26:31","modified_gmt":"2023-04-01T13:26:31","slug":"cardano-stands-out-in-robinhoods-top-movers-list-for-the-week","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/cardano-stands-out-in-robinhoods-top-movers-list-for-the-week\/","title":{"rendered":"Cardano Stands Out In Robinhood\u2019s Top Movers List For The Week"},"content":{"rendered":"
Robinhood, a popular trading platform, listed Cardano among the <\/span>top gainers in its weekly list<\/span> of best-performing assets. This is the first time in almost two months that ADA made it to the list. ADA gained 10.15% in the last seven days. It also traded at a high of $0.4079 on March 31, 2023.<\/span><\/p>\n Cardano comes behind Stellar (XLM) on the list, which recorded gains of 17.2% within the same timeframe. ADA\u2019s current rally kicked off on March 28 when it traded at $0.360 before recording a monthly high of $0.4079 on March 31. The asset remains bullish despite a slight retracement today.<\/span><\/p>\n Several factors are currently driving Cardano\u2019s bullish momentum. Here are the latest developments on the network.\u00a0<\/span><\/p>\n Cardano is set to become a top blockchain network compatible with the Ethereum Virtual Machine (EVM). The developers intend to integrate a new feature enabling users to access EVM contracts directly from an ADA wallet.<\/span><\/p>\n Cardano will be a top EVM chain next month<\/p>\n Milkomeda (Cardano\u2019s EVM layer) is launching a feature allowing EVERY Cardano user to use EVM contracts directly from ANY Cardano wallet<\/p>\n All in pure ADA<\/p>\n This will instantly make Cardano one of the largest EVM chains by user count pic.twitter.com\/fp6WwdFmF4<\/p>\n — Sebastien Guillemot (@SebastienGllmt) March 30, 2023<\/p>\n<\/p>\n A leading blockchain developer, Mikolmeda, announced this new upgrade noting that it will allow users to interact with dApps and smart contract services powered by the Ethereum Virtual Machine (EVM. <\/span><\/p>\n Users can do this comfortably without exiting the Cardano ecosystem. Also, it will enable Ethereum developers to build on Cardano’s network.<\/span><\/p>\n Also, transactions and operations with the EVN contracts will use ADA rather than Ether, thus increasing the token’s utility. Milkomeda will also support staking activities for EVM users and integrate on-chain gaming.<\/span><\/p>\n Frederik Gregaard, CEO of <\/span>Cardano Foundation<\/span>, recently engaged influential policymakers in London with interest in UK\u2019s blockchain future. He described the environment in the UK as an exciting time for blockchain.<\/span><\/p>\n This month I visited London and met some of the truly passionate and involved policymakers and stakeholders invested in the future of #blockchain in the UK. This is indeed an exciting time for blockchain! pic.twitter.com\/kFlm4nBcPe<\/p>\n — Frederik Gregaard (@F_Gregaard) March 30, 2023<\/p>\n<\/p>\n Gregaard addressed two cross-party committees with his focus on CBDCs and Digital Identity. He stated that to become a global blockchain hub, UK policymakers must be ambitious in pursuing goals such as interoperability.\u00a0<\/span><\/p>\n Gregaard regards the London meeting as highly productive and looks forward to Cardano\u2019s foundation\u2019s support for blockchain development in the UK.<\/span><\/p>\n ADA is trading in the <\/span>$0.39 – $0.4<\/span> range today, gaining over 10% on its price in the past seven days. The recent developments on the network have given investors more reason to buy ADA tokens.<\/span><\/p>\n <\/p>\n It is trading above its 50-day and 200-day <\/span>Simple Moving Averages (SMA)<\/span>, a bullish signal for the long and short term.<\/span><\/p>\n Cardano’s <\/span>Moving Average Convergence\/Divergence (MACD)<\/span> is above its signal line and still rising, which is bullish. Also, the histogram bars reflect the bullish energy prevalent in the market.\u00a0<\/span><\/p>\n However, the <\/span>Relative Strength Index (RSI)<\/span> is 59.35, which is in the neutral zone and descending. It indicates that the bears are still active in the market, although they do not have sufficient pressure to reverse the trend.<\/span><\/p>\n ADA’s developmental strides will continue to push its rally despite the slight price pullback. Expect a break above the $0.4 price level and more positive price action in the coming days.<\/span><\/p>\n Featured image from Pexels and chart from Tradingview.com<\/em><\/p>\nWhat Might Be Driving The Current Rally<\/b><\/h2>\n
Cardano\u2019s New Wallet Feature<\/b><\/h2>\n
Cardano Foundation CEO Meeting With British Lawmakers<\/b><\/h3>\n
Cardano Price Prediction<\/b>\u00a0<\/span><\/h3>\n