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Cardano (ADA) Price Surges 24 % in 5 Days with New Payment Solution

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  • Vladislav Sopov
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    Shortly after releasing AdaPay, the price turned bullish for the Cardano Foundation and its partner COTI. This new solution allows merchants to accept ADA.

Cardano (ADA) Price Surges 24 % in 5 Days with New Payment Solution
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The Cardano Foundation (ADA) is a well-known pioneer in the adoption of real-life blockchains, specifically in the B2B sphere. Within the last five days, the Cardano team released a new payment solution and launched the Shelley Incentivized Testnet. The reaction to this news resulted in ADA's price rising shortly afterwards.

New Crypto Payments Solution for Business

The AdaPay solution, released on November 28, 2019, is a collaboration product between the Cardano Foundation and COTI - a fin-tech platform focused on '"building own payment solutions" for businesses. With the new system, any organization can launch an ADA-powered payment gateway. 

Adapay and Coti is now live https://t.co/lFLHgl9F3k

In order to get whitelisted with the new release, a business representative needs to fill out a simple form on COTI's official website. The only stringent requirement is a minimum of $50,000 in monthly sales volume.

One more brilliant feature of the recently released payment solution is its crypto-to-fiat integration. With 35 fiat currencies to choose from, AdaPay offers its clients near-instant settlements directly into their bank accounts. Thus, it seems that the Cardano Foundation has produced a new class of payment processor that merges the benefits of crypto and "classic" payments.

Market Reaction

The reaction by the markets on Cardano's recent milestone have been extremely bullish. In the last five days, the price for ADA surged almost 25%, reaching $0.041 USD/ADA. As of now, ADA has entered the top 10 list of cryptocurrencies, with the highest market capitalization.

Cardano Price Surges 25 % in Five days
Image by: https://www.coingecko.com/

It is interesting that COTI has developed its own b2b-crypto processing solution named COTIPay. It can process all types of payments (online and offline), including crypto and stable coins, credit cards, and even a merchant’s native coin. It also has built-in financing with interest earned on deposits and business loans.

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AdaPay seems to be a brilliant example of how a crypto behemoth can collaborate with a lesser-known firm and utilize their expertise. Have you ever paid with cryptocurrencies in shops? Tell us on Twitter!

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About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years

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  • Yuri Molchan
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    The Whale Alert account reports that nearly 89,000 ETH was wired to Poloniex from a wallet that had remained inactive since April 2018

$13 Mln in ETH Transferred to Poloniex from Wallet Inactive for Almost 2 Years
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On Friday, the Twitter account Whale Alert that tracks large movements of crypto on the blockchain, spotted nearly 89,000 ETH (that’s around $13 mln in Ethereum) sent to the Poloniex exchange.

The account points out that the wallet which sent the money had been inactive since April 1 last year. No one has used it for nearly two years, apparently, waiting for the crypto winter to be over and hoping for a price surge afterwards.

One of the possible reasons of this wallet becoming active again is the Ethereum hard fork Istanbul which is about to happen today, on December 7, at block 9069000.

Very often the price of an asset goes up after a major upgrade (the Istanbul hard fork will not cause an appearance of a separate coin as it was with Ethereum Classic).

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Earlier, U.Today reported that the South Korean exchange Upbit suffered from a hacker's attack and lost around $50 mln in Ethereum. Whale Alert on Twitter has recently published data about $37 mln stolen from Upbit that was moved by the hacker from one wallet to another.

The head of Binance, CZ, has promised that all funds stolen from Upbit that would end up on Binance would be immediately frozen.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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