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Tag: Cardano

  • Charles Hoskinson Criticizes Cardano ‘Dunking,’ Expresses Concern Over ‘Carnival Barkers’ Dominance

    Charles Hoskinson Criticizes Cardano ‘Dunking,’ Expresses Concern Over ‘Carnival Barkers’ Dominance

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    Charles Hoskinson has criticized “all the dunking of Cardano,” and asserted that the protocol offers the “optimal route for scalability, governance, and innovation.” According to Hoskinson, the crypto industry’s problem is that it allows “carnival barkers [to] dominate the conversation.” Cardano FUD Charles Hoskinson, co-founder of Input Output Global Inc., has criticized “all the dunking […]

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  • Why 2022 Could Be The Best Year For Cardano, Top Bullish Predictions

    Why 2022 Could Be The Best Year For Cardano, Top Bullish Predictions

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    Cardano (ADA) experienced a major downtrend in the past months as the crypto market took another swing for the lows. The sixth cryptocurrency by market cap has seen a year in the green as it managed to complete several upgrades on its mainnet.

    Related Reading | Biggest Cardano Based Cross-Chain NFT Marketplace Verlux kicks Off Pre-sale

    First, Cardano successfully transitioned to a Proof-of-Stake consensus in 2020, shortly after the D parameter reached “0” signaling the full decentralization of block production. The network went from a federate consensus to a community-based consensus as the latter control most stake pools producing blocks on the network.

    Later, the start of a new era with the first of 3 major Hard Fork Combinator (HFC) events with the implementation of “Allegra”, followed by “Mary”. These upgrades brought new capabilities to the Cardano mainnet which were completed with “Alonzo” that introduced smart contract capabilities into the blockchain.

    This ecosystem has already seen a surge in projects, as developers and users rush in to build and leverage the benefits of its UTXO model. In that sense, community member ADA Whale shared his top predictions that could boost another rally for the underlying cryptocurrency of the Cardano network.

    ADA Whale mentioned the potential increase in the number of transactions and active addresses for Cardano. The investor believes these fundamentals could increase by a factor of 5 leading into a massive wave of adoption in 2023.

    Cardano remains one of the most actively used networks. Scaling happens via different streams, first gradually to keep up w growth, exponentially in 2023.

    This new wave of adoption for this network could translate into more projects. The investors estimated that by the end of 2022, there could be more than 250 decentralized applications, DeFi platforms, launchpad and more on the network. The investor added:

    Cardano DeFi starts slowly but TVL >$10bn eoy. Dapp store with levels of certification goes live. Ease of use sees people replace banking stack with Cardano DeFi. Digital Identity projects thrive connecting DeFi w/ real world. UTXO DeFi will be different, and better

    Cardano And Its Potential For The Coming Years

    In addition to its security, according to ADA Whale, Cardano offers low fees, energy efficiency with a green footprint, and has been adopted by companies and projects with a global impact. This includes World Mobile, Singularity, and others.

    The aforementioned collaborations place the ecosystem in different sectors with close deals with governments in growing economies. Cardano will strengthen its partnerships in the coming years as it attempts to provide people with an open, decentralized, and accessible network to manage and support a variety of basic services.

    In the meantime, the network develops interoperable capabilities. ADA Whale mentioned Milkomeda, a second layer solution for Cardano with EVM compatibility. This types of solutions will help onboard more users and developers.

    Related Reading | Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch

    As of press time, ADA trades at $1,36 with sideways movement in the past day.

    Cardano ADA ADAUSDT
    ADA trends to the downside in the 4-hour chart. Source: ADAUSDT Tradingview



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  • Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch

    Cardano Project Flickto Surpasses 1.5 Million ADA Staked One Month After Launch

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    Flickto has seen tremendous success since its first launch on Nov 1st. The number of delegates on the platform has grown rapidly, as has the volume of ADA staked. Less than one month after launch, more than 1.5 ADA has been staked on its ISPO delegator pool.

    The project is revolutionizing the way that media financing is carried out. Flickto uses the ISPO pool to fund projects through community partnerships. The media launchpad provides creators with the financing they need to produce their content, while simultaneously providing users the ability to earn passive income by way of distribution royalties after the projects are completed.

    Staking In Flickto ISPOs

    Users can stake and earn rewards by staking their ADA and earning Flickto’s native token FLICK. Staking with FLICK tokens gives the user the right to vote for the projects which they would like to see funded. Then when the projects are approved by the broader community via voting with staked FLICK tokens, financing is provided until the project is distributed. At which point users will start earning royalties.

    Users are able to fund projects that will eventually be seen on the big screen in theaters and also on their TV screens. This takes the power over the media industry out of the hands of a few conglomerates and puts it in the hands of the community, completely eliminating the barrier to entry for industries such as this.

    In addition to the rewards from staking FLICK and ADA, participating in voting also earns users rewards. It also makes users eligible for extra rewards, like the just-concluded airdrop that saw two NFTs go to users who have staked in the pool.

    Where Media Meets Blockchain

    Flickto is the first of its kind on the Cardano blockchain and as such has recorded much success since launch. It entered into a partnership with media industry veterans Ben Morris and Geraint Harvard Jones, who serve as advisors to the project. With decades of experience between the two, they will guide Flickto as they navigate the media project financing space.

    Artists from various genres can be selected by the community for financing. Flickto is not just limited to film and TV production. NFT artists and content creators are another example of projects that users can vote on.

    FLICK Private And Public Sale

    Flickto has completed the first phase of its Private Sale round with great success. The next opportunity to acquire FLICK outside of the ISPO is via the upcoming IDO. The private sale gave users the opportunity to purchase the tokens at a low price.

    The Cardano-based project will help accelerate Flickto to provide efficient and transparent crowdfunding services.

    The total supply of FLICK tokens is capped at 5,000,000,000 with a total of 1,000,000,000 FLICK tokens going up for sale in the private sale.

     

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  • What Went On In The Secret Meetings Between Cardano Developer IOHK And Zanzibar Officials?

    What Went On In The Secret Meetings Between Cardano Developer IOHK And Zanzibar Officials?

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    The Cardano Africa tour had been in full gear for a couple of weeks now, ending when Hoskinson had returned back to the States. Founder Charles Hoskinson had announced the tour after the successful launch of smart contracts capability on the blockchain and last month, the tour had kicked off.

    Hoskinson and the Cardano Foundation plan to meet and liaise with developers of Cardano-based projects and officials of various countries to discuss the acceleration of blockchain adoption on the continent.

    Related Reading | Shiba Inu Beats Out Cardano, Dogecoin On Top 10 Watch-Listed Tokens

    Judging by Hoskinson’s Twitter feed, the tour has been going as planned as he has met with a number of project leads and officials in various countries so far. One thing that remains a mystery is the secret meetings. Cardano developer IOHK has met with Zanzibar Officials but these meetings have been kept private from the general public. Here’s what we know.

    Mapping The Future For Zanzibar

    Finding ways to grow interconnectedness around the continent had been one of the goals of the Cardano Africa tour. The foundation had gone into this full-swing once Hoskinson had touched down in Zanzibar. Talks of technological advancement in the region have dominated this leg of the tour.

    Cardano price chart from TradingView.com

    ADA price trading at $2.126 | Source: ADAUSD on TradingView.com

    Charles Hoskinson himself had personally inspected solar battery modules and telecom station installations in the country. This was in an effort to bolster social advancement and help businesses succeed.

    IOHK and Zanzibarian officials had discussed how to bring to fruition a more connected future for the citizens in a meeting hosted by World Mobile Team. The meeting which was held on November 8 saw both the Zanzibarian government and IOHK align values for the future, pointing out that empowerment efforts being carried out by officials to give fishermen their own boats was the kind of work the developer was interested in.

    Cardano Pushing Growth In Africa

    The Cardano Africa tour is only another in the series of steps that the developer has taken to help promote innovation on the continent. Crypto enthusiasts have always looked to Africa as being a hotbed for blockchain adoption and Cardano has made sure to help foster the growth in the region. Particularly the growth of Cardano-based projects.

    This is why millions of dollars have been spent by the foundation to fund African projects. While there, Hoskinson had made strides for Cardano to lead blockchain development in African countries and one of the ways had been education.

    Related Reading | Cardano Flips Solana, Tether To Reclaim Spot At 4th Place

    Cardano Foundation provides financial and educational support when needed for startups in Africa. Furthermore, a deal had been struck with the Ethiopian government to launch digital IDs that would help track the academic performance of students in the region on the Cardano blockchain. The idea is that if students’ performances can be tracked, then the quality of education can be improved based on the needs of the students.

    Hoskinson has lauded the potential which the African continent holds for blockchain development and plans to expand the operations of Cardano on the continent in the coming years.

    Featured image from CryptoNinjas, chart from TradingView.com

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  • Cardano (ADA): Why Should It Be a Must Crypto to Watch for 2022?

    Cardano (ADA): Why Should It Be a Must Crypto to Watch for 2022?

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    The overall price action in the cryptocurrency market during 2021 has been an extension of the bull-run witnessed over the last months of 2020. Cardano (ADA) has since picked up a strong bullish momentum and managed to steal the show among the altcoins sphere, setting its tone as a real competitor among the majors.

    Nowadays, according to Coinmarketcap, ADA exchanges hands at $2.22, with a market capitalization of around $72.90 billion, standing at fourth place in the ranking of the largest cryptos by market cap.

    The project founded by Charles Hoskinson has also seen some improvements on the blockchain that bolstered the confidence among the virtual currency during the first months of the year. Most recently, in September, Cardano deployed its Alonzo hard fork.

    Now, after cracking the $2.00 threshold and consolidating its yearly gains above that neighborhood, crypto traders are eyeing the next year’s forecasts. AI-based forecast models like WalletInvestors are putting ADA at $4.587 as of press time from a yearly perspective, while its five-year forecast says that Cardano’s coin could skyrocket towards $14.05

    So, what would be the future of the price after the ongoing consolidation around $2.00 in 2022?

    ADA Technical Analysis for 2022

    As the year-end period looms and Bitcoin (BTC) is finally cracking above $60,000, which is the latest critical hurdle ahead of its all-time highs, ADA has been trapped in some sort of rangebound that hasn’t been resolved since the lows tested during September 21 at $1.90.

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    As a contraction has been developed across the board, the 200-period simple moving average (SMA) at the H4 chart is capping gains and limiting any further advance of ADA above $2.40.

    Cardano ADA Price Analysis
    ADA H4 Chart

    That said, bulls need to crack above such an area in order to allow a golden crossover of the 50-period simple moving average with the 200 SMA and thus bolstering the bullish case. A golden crossover in the H4 chart is significant in the crypto markets, given that it’s a solid signal that could unleash a bullish force that can strengthen further. If that’s the case, ADA could prepare the ground for a bullish 2022 year that could take it to test levels around $5.00.

    In fact, another forecast model, LongForecast, put the price of ADA at the Q4 2022 around $3.24, which is the average price that Cardano’s coin could aim in a possible bull-run.

    Gene Simmons and ADA

    But is this a too-optimistic view towards ADA? Ask Gene Simmons, rock legend and Kiss bassist who is a well-known ADA investor.

    He claimed in February to had bought ADA coins and confirmed recently in an interview that he’s still holding them, suggesting that his investment has doubled since then. Moreover, Simmons said that he plans to keep holding his cryptos for at least ‘a decade.’



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  • EMURGO To Invest $100 Million In Cardano To Bolster DeFi Adoption

    EMURGO To Invest $100 Million In Cardano To Bolster DeFi Adoption

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    Decentralized finance (DeFi) has become an increasingly important addition to the Cardano network following the launch of smart contracts capability. Developers have been working since the Alonzo hard fork to bring their DeFi solutions to the ecosystem. But with decentralized finance already underway on blockchains such as Ethereum and Solana, Cardano has had to play catch-up with these other networks.

    This is why the recent announcement from EMURGO carries significant connotations for the future of DeFi on the network. EMURGO, which is the commercial arm of the Cardano Foundation, has made moves to help further the growth of decentralized finance solutions on the ecosystem. A $100 million investment is set to be made into the DeFi ecosystem in a big to promote the development and growth of the platform.

    Related Reading | Billionaire Mike Novogratz Says He’s “Not Nervous” About Crypto Sell-Off

    Pushing DeFi To The Forefront

    The $100 million investment in the ecosystem is meant to go towards promoting the network’s capabilities to developers and uses. Although NFTs are now live on the blockchain, decentralized finance is taking a long time as developers need to build and test their protocols before rolling them out to users. Thus making sure that users’ funds in said protocols are safe.

    Related Reading | Cardano Summit Sees Launch Of Exciting New Partnerships

    DeFi on the network will bring things such as lending and borrowing, yield farming, and more to the ecosystem users, which are built on the smart contracts deployed on the Cardano network. The investment will hopefully help the blockchain carve out a niche for itself in the growing decentralized finance market. Also enabling it to compete with the big dogs such as Ethereum, Solana, and Algorand.

    EMURGO Bolsters Cardano-Focused Projects

    During the recently concluded Cardano Summit, EMURGO unveiled a number of investments made into Cardano-focused projects around the world. CEO Ken Kodama shared that the company had made strategic investments into projects being developed on the ecosystem. EMURGO participated in seed investments rounds on these projects. To bolster development on the blockchain.

    Cardano price chart from TradingView.com

    ADA trends low at $2.04 | Source: ADAUSD on TradingView.com

    These include Adanian, a tech incubator based in Africa that is focused on startups building on Cardano. Milkomeda, a dcSpark side chain project that bridges Cardano and other Layer 1 blockchain protocols benefitted from EMURGO’s investments. And last but not least, ADAVERSE, also focused on incurring African startups developing their offerings on the ecosystem.

    Featured image from The Coin Republic, chart from TradingView.com



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  • Cardano Confirms Launch Date For Smart Contracts Mainnet Upgrade

    Cardano Confirms Launch Date For Smart Contracts Mainnet Upgrade

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    Cardano’s developer IOHK has now confirmed smart contracts capability is set to launch on the network on September 12th. The long-awaited upgrade to the Cardano Mainnet will see the addition of smart contracts capability to the network, which would open the door to both developers and investors alike on the network. The launch is scheduled for Sunday, only four days away.

    Related Reading | Analyst Lays Out Theory That Suggests A 290% Move In Cardano (ADA) Before Rally Is Over

    Taking to Twitter, the developer shared with the wider community that they had successfully submitted an upgrade proposal to the Cardano Mainnet. This would trigger the hard fork combinator (HFC) event that would take place on Sunday. “The Alonzo HFC event will be the most significant upgrade yet, laying the firmest of foundations for an exciting new era of smart contracts on Cardano,” said the developer.

    Using the HFC technology will enable the deployment of smart contracts capability with the core Plutus, which will come will all compatibility upgrades across the entire software stack. Testing has already been underway for the smart contracts capability with trusted testers from previous upgrade iterations. So far, the smart contracts are processing transactions accordingly and developers have taken to building their DApps on the platform.

    Gearing Up To Compete

    The final deployment will see Cardano competing with other networks successfully operating in the space. Going up against well-known smart contracts platforms like Ethereum, and a new contender that has taken the market by storm, Solana.

    Alonzo Hard Fork will bring decentralized finance (DeFi) and decentralized exchanges (DEX) to the ecosystem, as well as capabilities like being able to mint NFTs on the Cardano blockchain. Effectively expanding the scope of use cases of the network.

    Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

    The network ran into some problems earlier when rumors started making the rounds on social media that the smart contracts could only handle one transaction at a time. But this was soon after cleared up by the developers, who showed that the problem was not with the network, but rather with the DApp Minswap. IOHK further encouraged developers to keep testing on the network, adding that “this is what a testnet is for.”

    Cardano (ADA) Price Reaction

    Cardano, like the rest of the market, is still reeling from the flash crash which it experienced yesterday. Although it has recovered from the lows of the flash crash, the digital asset continues to struggle to find footing back to positions before the crash. The announcement from Cardano’s developer did not do much to push the price upwards, which has left the asset trading around the $2.3 range. Putting it back down below highs from May.

    Cardano price chart from TradingView.com

    ADA price struggles as market reels from crash | Source: ADAUSD on TradingView.com

    At the time of writing, the asset is trading at $2.38, down more than 9% in the last 24 hours. The crash in its value has brought the total market cap of the asset down to $76 billion. Although remaining the third-largest cryptocurrency by market cap.

    Featured image from Ethereum World News, chart from TradingView.com



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  • Bullish cup and handle pattern sets Cardano (ADA) price up for a new ATH

    Bullish cup and handle pattern sets Cardano (ADA) price up for a new ATH

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    Smart contracts have been a revolutionary force in the blockchain industry because they have enabled the creation of decentralized finance protocols, nonfungible tokens and a new form of carrying out transactions without the need of a middleman. 

    Cardano (ADA) is one of the many projects that has been gaining momentum throughout 2021 and now that the project’s long-awaited smart contract capabilities are on the verge of becoming reality, the token is on the precipice of setting a new all-time high.

    Data from Cointelegraph Markets Pro and TradingView shows that after bottoming at a low of $1.02 on July 20, the price of ADA has surged 139% to a multi-week high at $2.45.

    ADA/USDT 1-day chart. Source: TradingView

    Here’s a look at what some analysts and traders are saying about the recent price action for ADA and what token holders may want to keep an eye on in the short term.

    A bullish upturn in the 50MA

    The rapidly rising price of ADA has been hard for most traders to ignore, especially since multiple technical indicators have now flipped bullish.

    One such indicator is the 50-day moving average (50MA), which is now pointed up after being on a downslope for roughly 2 months as highlighted in the following chart posted by pseudonymous Twitter user Pharmlord.

    ADA/USD 1-day chart. Source: Twitter

    As seen in the chart above, once crossing above the 50-MA, ADA price doubled and is now on the verge of hitting a new all-time high at $2.46. 

    Flipping $2.30 to support is key

    Insight into the important levels that ADA bulls need to keep an eye on was provided by Rekt Capital, a pseudonymous Twitter analyst who pinpointed the importance of the $2.30 level.

    ADA has already managed to convincingly surpass a lower resistance zone shown in red on the chart above and is now it is attempting to break the May 16 all-time high at $2.46.

    According to Rekt Capital: 

    “The only major resistance left before a new All-Time Highs is the black level ahead (~$2.30).”

    Related: ADA hits $2 for the first time since May ahead of Cardano smart contract announcement

    A cup and handle breakout will confirm the ATH

    According to Twitter user ‘Fidzcrypto’, ADA is showing a distinct cup and handle formation on the daily timeframe.

    ADA/USD 1-day chart. Source: Twitter

    Investopedia cites the cup and handle pattern as a technical indicator that resembles a cup with a handle, where the cup is in the shape of a “u” and the handle has a slight downward drift.”

    The cup portion of the pattern can be seen on the chart between May 14 and Aug. 16, while the handle is seen in the price dip and recovery from Aug. 16 – Aug. 18.

    According to Investopedia:

    “The cup and handle is considered a bullish signal, with the right-hand side of the pattern typically experiencing lower trading volume. The pattern’s formation may be as short as seven weeks or as long as 65 weeks.”

    The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.