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Bitcoin, Cardano & Compound – American Wrap: 11/10/2020

Bitcoin Rally Accelerates As Billionaires Flock To The Industry

Bitcoin (BTC) has increased by over 11% on a weekly basis and gained more than 35% since this time in October. The price of the pioneer digital currency has recently been on the bullish quest, which is hardly surprising, considering the number of whales pouring their money into the market.

Cardano Price Could Be On The Verge Of A Breakout To $0.15, Bullish Metrics Suggest

Cardano price has established a robust resistance barrier at $0.112, which is also the upper boundary of a 12-hour ascending triangle. A breakout above this point can easily drive ADA towards $0.13, but rejection would be a notable bearish sign. 

Compound Price Looks Poised For A Rally As Number Of New Users Joining The Network Skyrockets 350%

According to recent statistics provided by Dune Analytics, the total number of Compound users has skyrocketed by 350% in the past month, reaching a total of 175,000 users. It seems that the most significant spike happened on October 16. Compound price could be on the verge of a breakout thanks to the recent interest shown by new users. 

Image sourced from Pixabay

© 2020 Benzinga does not provide investment advice. All rights reserved.

Read More: Bitcoin, Cardano & Compound – American Wrap: 11/10/2020

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