Cardano May Have Just Ignited Game-On Face For ‘$10 ADA Price’ In This Super Cycle

By Brian Njuguna – March 9, 2024

As positive crowd sentiment engulfs the crypto market after Bitcoin breached the all-time high (ATH) price of $69,000, Cardano (ADA) seeks to ride on this wave by mimicking its last bull run.

Taking on X, formerly Twitter, leading market analyst Ali Martinez pointed out that if this historical pattern saw the light of day, ADA could surge to the $10 price level.

Martinez noted, “Cardano seems to be mirroring its previous bullish cycle. If this pattern continues, we could witness a brief correction before ADA goes parabolic toward $10.”

Source: Ali Martinez

Cardano hit $3 during the last cycle after surging by more than 3,200%. Therefore, if ADA follows in these footsteps, Martinez believes the $10 price threshold will be in the offing as the eighth-largest cryptocurrency will have soared by more than 2,000%.

Since Cardano has broken out of a cup & handle formation that came to light in June 2022, ADA is likely to smash the $3 price level this cycle.

Cardano Experiences Heightened Network Activity

Based on CoinGecko data, Cardano has already recorded a 47.5% monthly surge, and increased network activity has played an instrumental role in this uptrend.

Specifically, ADA has been depicting strong network engagement and increased investor interest thanks to rising transaction volume and active daily addresses.

Cardano was hovering around the $0.7 level at press time, according to CoinGecko.

Top crypto analyst Dan Garmbadello recently echoed Martinez’s sentiments that Cardano was eyeing a parabolic movement since it had broken out of a major structure.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Original article posted on the Zycrypto.com site, by Brian Njuguna.

Article re-posted on Markethive by Jeffrey Sloe

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Tim Moseley

Cardano’s Charles Hoskinson Warns of Centralization Risks in the Crypto Industry

By Newton Gitonga – February 22, 2024

Charles Hoskinson, the founder of Cardano, has issued a stark warning about the dangers of centralization in the cryptocurrency industry.

Speaking during a live broadcast titled “Legacy is Eating Crypto” on Monday, Hoskinson cautioned that the growing influence of a small number of powerful actors could undermine the core principles of cryptocurrency, such as decentralization, privacy, and equality.

Notably, the pundit highlighted the rapid growth of stablecoins, such as Tether (USDT) and USD Coin (USDC), which now account for approximately 70% of all on-chain transaction volume. According to Hoskinson, these stablecoins, backed by traditional assets, are subject to the regulations of their jurisdictions and central issuers, creating potential vulnerabilities and centralization risks.

“USDT and USDC…are asset backed which means that there’s a central issuer. There is a company who is regulated in a jurisdiction subject to that jurisdiction’s rules and regulations, and whatever that jurisdiction wants to put upon that company, permissive or otherwise, they are subject to it cannot get out of it,” said Hoskinson.

In contrast, Hoskinson advocated for algorithmic stablecoins, which are not backed by traditional assets and operate decentralised. Notably, algorithmic stablecoins, such as DAI, maintain their value through algorithms and smart contracts without relying on a central issuer or traditional assets. However, the crypto market has been cautious since the TerraUSD (UST) de-pegging incident in May 2022, which raised concerns about their safety and caused a ripple effect on the broader crypto market.

Despite the risks, algorithmic stablecoins offer advantages such as decentralization, autonomy, and potentially higher yields. Developers have thus been improving their design and functionality, positioning them as a potentially significant force in the cryptocurrency market.

Hoskinson also criticized the increasing power of a small number of Legacy actors, including centralized exchanges, regulated institutions, and ETF holders like BlackRock, who control a significant portion of the value flow in the cryptocurrency market. He argued that these entities have the power to decide the future of cryptocurrency projects, as they can influence listings, liquidity, and regulatory compliance.

“As more of these Legacy actors come in, they’ll acquire more and more of the supply. They already have a fifth of what Satoshi has,” Hoskinson added. “10 Legacy regulated institutions control the vast majority of your value flow and also get to decide the future of all of these projects.”

That said, Hoskinson emphasized the importance of preserving the core values of cryptocurrency, including freedom of association, commerce, and expression, and the need to resist the encroachment of legacy actors in the industry. He further urged the community to remain vigilant and to consider the long-term consequences of centralization and the potential erosion of the core values of the cryptocurrency movement.

Notably, Hoskinson has consistently advocated for decentralization, even as Cardano continues to receive improvements aimed at promoting security, scalability, and sustainability while empowering users and developers with greater control and autonomy.

DISCLAIMER

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Loans, secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley

Charles Hoskinson Forecasts Cardano’s Triumph Over Ethereum with Upcoming Developments

By Newton Gitonga – February 10, 2022

Charles Hoskinson, the founder of Cardano, has expressed confidence in the future of the network, underscoring its potential to surpass Ethereum in the realm of decentralized finance (DeFi) and blockchain innovation.

Speaking during a recent interview with Dan Gambardello, host of the Crypto Capital Venture YouTube channel, Hoskinson noted the remarkable growth of the Cardano ecosystem, especially in the face of challenging market conditions. He emphasized the community’s dedication and collaborative efforts in propelling Cardano forward.

Despite initial scepticism labelling Cardano as a “ghost chain,” he stressed how the project had defied expectations, boasting over half a billion dollars in total value locked (TVL) during a bear market.

“We’ve had overwhelming participation and constant growth and innovation,” said Hoskinson, highlighting the vibrant activity within the Cardano ecosystem, with numerous projects and transactions fueling its expansion.

Addressing criticisms and comparisons to Ethereum, Hoskinson underscored Cardano’s steady progress and its distinct approach to scalability, governance, and innovation. He pointed out the misconceptions surrounding benchmarks like TVL and ADA price, emphasizing the significance of Cardano’s comprehensive roadmap and its focus on building a robust infrastructure.

“We know how to scale, we know how to get fast finality, we know how to get partner chains in, we know how to get rollups in,” Hoskinson asserted, outlining Cardano’s strategic initiatives to address scalability and network efficiency.

According to the pundit, a pivotal aspect of Cardano’s future success lies in its governance model and the utilization of its treasury funds. With nearly $750 million worth of ADA in the Cardano treasury, Hoskinson highlighted the community’s governance over these resources, enabling strategic investments in ecosystem growth and development.

Moreover, Hoskinson emphasized Cardano’s collaborative approach and burgeoning partnerships with other blockchain projects. He also highlighted the interoperability and synergies fostered by Cardano’s Partner Chains framework, enabling seamless integration with other blockchain ecosystems.

Hoskinson expressed confidence in Cardano’s potential to become the dominant governance system in the crypto space, toppling networks such as Ethereum.

“We’re getting recursion and rollups and that means all this stuff that’s happening in Ethereum not only works on Cardano works best on Cardano…so we will be probably one of the dominant zero knowledge layers thanks to all the work,” he added.

In light of recent developments like the intersect platform and advancements in scalability solutions, Hoskinson asserted that Cardano is poised for exponential growth. He encouraged a shift away from tribalism and adversarial dynamics within the crypto space, emphasizing the collective benefits of collaboration and innovation.

DISCLAIMER: None Of The Information You Read On ZyCrypto Should Be Regarded As Investment Advice. Cryptocurrencies Are Highly Volatile, Conduct Your Own Research Before Making Any Investment Decisions.

The original article written by Newton Gitonga and posted on ZyCrypto.com.

Article reposted on Markethive by Jeffrey Sloe

** Get secure funding for business projects in the USA and around the world. Learn more about USA & International Financing at Commercial Funding International. **

Tim Moseley