Cardano [ADA] may become the cryptocurrency of 2018 17738
Analysis
Ashmita Dutta
Jul 5, 2018 at 9:00 PM

Cardano [ADA] has shown positive response to the slight bullish run of Bitcoin [BTC] prevailing in the current crypto market. For this particular cryptocurrency, July 2018 starts off with the price valuation marked at $0,134 and currently, it is hovering around $0.151. This gradual increasing trend suggests that the crypto coin is on a positive trajectory. According to a previous report by BCFocus, Cardano [ADA] coin had even been enlisted on the popular crypto exchange based in Korea, Bithumb.

In the past 24 hours, the change in valuation is marked by 1.72% and the current market capitalisation is $3,929,817,936. With all these derivations, the virtual currency holds the seventh position among the top digital currencies in the market.

Cardano [ADA] may become the cryptocurrency of 2018-BCFocus

Cardano [ADA] is also leading the list of cryptocurrencies undergoing maximum gain since the previous week. The price of Cardano [ADA] has risen up by 23% since last week. The trading pair ADA/USD endeavours to maintain the positive trend in the market.

Charles Hoskinson, the creator of Cardano  

Charles Hoskinson the founder of IOHK, which is responsible for introducing Cardano [ADA] digital token. Thanks to his recent diversification endeavours, Hoskinson has continuously stayed in crypto-related news headlines. In an unexpected move, recently, Hoskinson provided the CEO of Tron, Justin Sun, a codebase piece for leveraging in his project.

Hoskinson wrote on Twitter,“Ok- final final- housekeeping piece of info. There is no partnership or collaboration with Tron. There is no endorsement of Tron. I just recommended to Justin to use Mantis as EthereumJ isn’t a solid or safe codebase to work with and they are building on the JVM.”

Hoskinson also made a remark about the inadequate media attention that his projects have been receiving. Hoskinson and Duncan Coutts, the director of engineering at IOHK, had recently received invitations from the London headquarters of Google. They were invited to talk about Cardano and the future of cryptocurrencies at the Google headquarters.

See also: Cardano [ADA] creator is optimistic about Wallstreet bringing in free capital

Release of the transcript took place as soon as the meet up ended to shed light on the topics of discussion. In his speech, Hoskinson explained the benefits of cryptocurrencies to the audience present at the congregation.

He said, “So I can walk over to Starbucks, and I can have my house tokenized, and I can sell it. There’s a market maker that lives in between that, and I sell one-millionth of my home and I can buy that cup of coffee, somebody bought that from me and the merchant gets paid in dollars or pounds.”

Google's invitation to Cardano's founder is being seen as the tech giant's growing interest in the daily usage of cryptocurrencies. The meeting also suggests that Google is inclined to assess Cardano's potential, and it might result in a future partnership. However, no such confirmation has been declared so far.

There has also been a recent headline about Cardano [ADA] getting newly enlisted on the Korean cryptocurrency exchange, CoinRoom. This event marks the first time when Cardano [ADA] would be trading against Korean Won. The enlisting of Cardano [ADA] on the Korea based digital asset platform is assisted by EMURGO, the sister concern of IOHK. EMURGO is accountable for carrying out the integration of Cardano with businesses of real world. This listing also facilitates the inflow of liquidity into the market of Cardano [ADA]. It may lead to further price hike in the near future.

See also: Cardano [ADA] joins list of tradeable currencies on eToro

Cardano Foundation supports projects which are involved in the betterment of the society. One of the primary objectives of Cardano has been to improve the living condition of the developing nations mostly in Africa. The #TransformAfrica project - a Cardano foundation initiative - focusses on improving the conditions in nations like Rwanda and Ethiopia.

Recently, Cardano founder Hoskinson introduced blockchain technology to Ethiopia. The government of Ethiopia and IOHK unanimously signed the agreement of Memorandum of Understanding. The agreement would execute the training of Ethiopian software developers who are new to the industry. The initiative is undertaken for the adoption of Cardano [ADA] in the agricultural sector. This MoU is the first of its kind in Africa, and the training sessions are expected to start from September, 2018.

This MoU agreement between Ethiopian government and Cardano Foundation serves to bridge the gap between the confined African digital market and unlimited potential of cryptocurrencies. The extensive adoption of Cardano among the African masses completely hinges on its prosperity in the Ethiopian agricultural sector.

The venue for the first congregation of Cardano Foundation on 13th June, 2018 was held in Zurich, Switzerland. The registration of Cardano Foundation took place 18 months prior to its ICO event. Cardano Foundation's headquarter is located in the small city of Zug where more than 200 blockchain enterprises operate.

Social media response (Reddit)

  • lilnugieee: Cardano, Ethereum, and Neo seem to be promising. With the amount of developers Ethereum has I can’t see it doing poorly. So many people are working with it
  • Glentract: Cardano and Neo are my top two guesses. I also thought Lisk was super promising but have become pretty disappointed with their delays and have lost a lot of confidence. Plus all the perks Lisk brought, Cardano includes and more

 

Image via Google

Join our Telegram group