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Home Crypto News Analysis Analysis: What July 2021 Hold For Cardano (ADA)?

Analysis: What July 2021 Hold For Cardano (ADA)?

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This year belong to Cardano as ADA founder, and Technical core experts are always busy bringing news partnerships and developments. The Cradano price is not showing true worth of ADA, but there is so much going on in Cardano ecosystem that makes ADA a perfect buy for the month of July, 2021.


The functionality ADA offers is fast transactions, scalability and resilience, security, interoperability, huge community, and decentralization.

Most Recently, Updating on Alonzo White, technology manager at IOHK, Kevin Hammond said:

“The transition between Alonzo blue to Alonzo White is scheduled for the coming week as the team initiated basic network functionalities, as well as the initial distribution of ADA to stake pool operators.”

Also Cardano unlocked a new milestone; ADA staking addresses crossed 660,000, adding more than 50,000 staking addresses in three weeks.

Cardano has 2,656 active mining pools, which means that this blockchain is quite active and therefore ADA tokens are in constant use.

Read Details: Alonzo White Testnet Can Go Live Soon Plus Cardano Hits New Milestone As ADA Crossed 660K Staking Addresses

On June 28, Vendetta Capital announced its investment in Ventup, which is the IDO launch pad for high-growth projects powered by Cardano.

On June 30, Nexo exchange announced support for Cardano. Nexo users will be able to buy and sell ADA coin, receive loans backed by ADA, and stake ADA for yearly returns.

 

Another significant development was the Stasis And Occam.Fi Become Partners To Launch Euro Stablecoin On Cardano. Read More Here

stromgain

Recently Cardano creator Charles Hoskinson has expressed his thoughts on Cardano’s prospects in El Salvador. Charles’s views came in the latest AMA. He is confident about Cardano’s future in El Salvador.

Hoskinson Said:

Yes, we have been in talks with some officials and parties of El Salvador, and I may do a state visit, sent all the documentation and request for that, to meet the president. We have talked to a few people in that orbit, and they have expressed their interest in digitizing the country and going beyond just legalizing Bitcoin. We would have a better sense in probably the next two to four weeks.”

Read Details: Another Big Cardano Partnership on The Cards As Charles Hoskinson Is Planning El Salvador Visit

Should You Buy ADA?

With so much going on in Cardano, and smart contracts soon coming (probably in July), the answer is definately YES.

Surprisingly, Cardano hasn’t been volatile. For more than a week now, the coin has been consolidating within the $1 critical support and the $1.3 critical resistance range. ADA must broke the resistance to soar to $1.6 and possibly $1.8.

The biggest problem is that most Altcoin move with Bitcoin, When BTC move upwards large cap Altcoins like ADA follow and when BTC dumps, all coin Dump.



But if we look at the fundamentals and Cardano ongoing and up coming prospects, there is no doubt that price is not reflecting true ADA worth. But as crypto market will become more mature solid projects like Cardano will see long term un stoppable growth.

With smart contracts coming in July, 2021, ADA is surely a coin to buy.

Disclaimer: All info in this article is for informational and educational purpose only. All financial instruments including crypto are subject to high market risk. You must do your own deep research before investing in Crypto. Read full Disclaimer

 

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Albert Brownhttps://thecryptobasic.com/
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.

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