Contradanyc.com – Cardano Price is a proof-of-stake blockchain platform whose goal is to enable “change-makers, innovators and visionaries” to bring about positive global change.
As an open source project, Cardano also aims to “redistribute power from irresponsible structures to individual margins” helping to create a more secure, transparent and fair ecosystem.
Cardano was founded in 2017, and is named after the 16th century Italian polymath Gerolamo Cardano price. The original ADA token takes its name from the 19th century mathematician Ada Lovelace, who is widely considered to be the world’s first computer programmer.
The ADA token is designed to ensure owners can participate in the operation of the network. Therefore, those who hold these cryptocurrencies have the right to vote for any proposed changes to the software.
In today’s trading Wednesday (26/10/2022), ADA Coin recorded a stunning performance. Among the top cryptocurrencies, ADA Coin managed to lead the day’s gains. The following is the performance.
Based on Coinmarketcap data, the Cardano price of ADA is USD 0.4008 or around IDR 6,249 with a 24-hour trading volume of around IDR 20.3 trillion.
ADA managed to skyrocket 10.00 percent in the last 24 hours and 9.96 percent a week. Meanwhile, Coinmarketcap’s current rating is 8 with a market capitalization of IDR 214.2 trillion. To date, there has been a circulating supply of around 34.3 billion ADA out of a maximum supply of 45 billion coins.
Crypto Prices on Wednesday 26 October 2022
Previously, the price of bitcoin and other top cryptocurrencies was observed to have a uniform movement on Wednesday (26/10/2022). The majority of the top cryptocurrencies returned to strength after briefly weakening the previous day.
Based on data from Coinmarketcap, Wednesday morning, October 26, 2022, the crypto with the largest market capitalization, Bitcoin (BTC) skyrocketed 3.80 percent in 24 hours, and 3.99 percent a week.
Currently, the price of Bitcoin is at the level of USD 20,069 per coin or equivalent to IDR 311.7 million (assuming an exchange rate of IDR 15,533 per US dollar).
Ethereum (ETH) is also gaining ground. ETH was up 8.15 percent in 24 hours and 11.13 percent in the week. With that said, ETH is currently at USD 1,455 per coin.
The next cryptocurrency, Binance coin (BNB) also shot up. In the last 24 hours BNB rose 4.36 percent and 4.51 percent a week. This makes BNB priced at USD 273.48 per coin.
Then Cardano price, also strengthened again. In the last one day ADA flew 12.05 percent and 11.56 percent a week. Thus, ADA is at USD 0.4025 per coin.
Other Crypto Prices
Meanwhile, Solana (SOL) is again perched in the green zone. Throughout the last one day SOL rose 8.29 percent and 1.18 percent a week. Currently, the price of SOL is at the level of USD 30.96 per coin.
While XRP also rose again this morning. XRP is up 0.48 percent in the last 24 hours, but is still down 1.53 percent on the week. That way, XRP is now priced at USD 0.4588 per coin.
Meme coin Dogecoin (DOGE) also recovered. In the past day DOGE was up 4.06 percent, and 3.36 percent for the week. This makes DOGE trade at USD 0.05231 per token.
Stablecoin Tether (USDT) and USD coin (USDC), both strengthened 0.01 percent today. This makes the price of both still survive at the level of USD 1.00
While Binance USD (BUSD) strengthened 0.01 percent in the last 24 hours, making the price still at the level of USD 1.00.
As for the overall crypto market capitalization in 24 hours, it strengthened to the level of USD 971.1 billion from the previous level of USD 930.8 billion.
Read more: Slowdown in Crypto Investment Continues in 2022
SEC Stablecoin Needs to Be Supervised to Reduce Financial Risk
Earlier, US Securities and Exchange Commission (SEC) Chairman Gary Gensler asked congress to give the US Commodity Futures Trading Commission (CFTC) more powers to oversee cryptocurrency stablecoins to reduce risks to the financial system.
Gensler explained that stablecoins are usually pegged to the US dollar and used to facilitate trading of other digital assets. With a market cap of around USD 150 billion, stablecoins have a lot in common with money market funds, and need to be regulated accordingly.
“While the CFTC has the anti-fraud and anti-manipulation regulatory authority over companies that issue stablecoins, they do not have the plenary authority to make rules in the exchange realm,” said Gensler, quoted by Channel News Asia, Saturday, October 22, 2022.
According to Gensler, the CFTC could have greater authority. They currently have no direct regulatory authority over the underlying non-securities crypto.
“Most cryptocurrencies, including so-called algorithmic stablecoins, are securities, and are under the authority of the SEC, while some are not,” explains Gensler.
In March 2022, TerraUSD (UST), an algorithm-based stablecoin, collapsed spectacularly, pushing other major stablecoins, such as Tether briefly below its dollar peg and sending ripples through the global cryptocurrency market.
The Financial Stability Supervisory Board, a U.S. regulatory panel made up of top financial regulators, also earlier this month recommended that Congress pass legislation addressing the risks digital assets pose to the financial system, including bills to increase oversight of the crypto and stablecoin spot markets.
It remains unclear when Congress will pass crypto-related legislation, although several have been introduced to address stablecoins and digital commodity regulation. More Informasi Kesehatan.