Cardano, Terra, Polkadot: integration into the Bitwise crypto index

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Cardano, Terra, Polkadot

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Investing.com – , and all recorded gains this Wednesday, February 2, 2022. The rose 0.81% to $1.0698, while the gained 0.64% to $52.28 and climbed 2.91 % at $20.19.

Cardano: the number of smart contracts is growing rapidly

The growth of the smart contract ecosystem has received a huge boost on the Cardano blockchain. In just two days, 116 additional smart contracts were announced, bringing the total number to 1127, as seen in data from Cardano Blockchain Insights.

This development is related to IOHK’s recent announcement to work intensively on blockchain scaling over the course of the year. A first step on this path is to increase the storage capacity per block from the current 72 KB to 80 KB.

Terra: the positive momentum must not stop now

As early as January 27, Terra broke its recent low in the $54.10 area and extended its downside move with the Wonderland fiasco towards the 138.2 percent Fibo expansion of $42.34. .

On the 4-hour chart, the Luna formed a deeper low, while the RSI formed a higher low. The resulting positive divergence (blue arrows) signaled the decline in negative momentum, followed by the current rally which tested the resistance of the previous low.

For the bullish move to continue, it is now paramount that there is an exit from the trend channel towards the 78.6% Fibo retracement at $60.69.

If it fails to do so, expect a retest of the 123.6 percent Fibo extension of $46.84.

Polkadot joins the Bitwise 10 ex Large Cap Crypto Index

Polkadot is now part of the Bitwise 10 ex Bitcoin Large Cap Crypto Index, Bitwise asset management subsidiary Bitwise Index Services has announced. January 31, and were replaced by Polkadot and Cosmos. The composition of the index now looks like this:

69.83% (ETH), 7.65% Cardano (ADA), 6.74% (SOL), 4.24% Polkadot (), 3.74% Avalanche (AVAX), 2.66% Polygon (MATIC) , 1.74% Cosmos (ATOM), 1.74% Chainlink (LINK) and 1.66% (LTC).

By Marco Oehrl

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