Cardano Dan's Newsletter - Issue #101

Live Today

Quote of the Day

“You have not lived today until you have done something for someone who can never repay you.”

— John Bunyan

I had hoped to do something special for my 100th newsletter. I couldn’t believe it when twitter user and newsletter subscriber budzdegen offered to give away a Space Budz to celebrate the milestone. It was way better than any ideas I had come up with.

The response to the giveaway was incredible. Welcome to all of you new subscribers!

But what was even more incredible was the response from the winner. It was absolutely incredible and left me with a true sense of awe and appreciation for the impact we can have on others. Thank you budzdegen for how you touched a life with this giveaway!

Let me encourage each and every one of you to do something for someone that they will never be able to repay you for. I witnessed something like that today and I am inspired to do more of that myself.

Key Takeaways from the Past Week

Monday - Go Far

Monday we pondered why it’s better to under-promise and overdeliver and we talked about the exploding NFT market. Speaking of which, don’t miss Trybbles Drop 3 at 1600 UTC Sunday August 22nd.

Wednesday - Be Yourself

Mid-week I shared my thoughts on being your own person. Learning from role models is great, but you are your own person with you own strengths and experiences. Be yourself because everyone else is taken!

Friday - We Are Cardano

Friday’s newsletter (that went out Thursday night because I was so excited about #100) was a great time to pause and reflect on why I write the newsletter and how thankful I am for all of you. We also touched on some really big milestones coming up in the near future for Cardano.

Technical Analysis

Another really strong week for Cardano ADA!

Last week I said:

ADA is looking like it wants new all-time highs any moment.

That’s exactly what ADA did. It pushed right through prior all time highs and is now working to establish $2.50 as new support.

The chart below shows the bull run channel for this cycle. As most of you probably remember, my first target for this bull run is $3.90. That is well within the channel that you see below.

In fact, there is quite a bit of space above $3.90 within the channel. I’ll be talking about my next targets before you know it.

Looking at the crypto majors performance since March 2020 lows. Cardano ADA is in a different class than the other crypto majors during this cycle.

I expect this performance to continue when smart contracts are released. Some people point to a lull in price action for ADA after the Shelley launch, but I think the demand for ADA will only increase with the launch of DApps and DEXs.

Finally we look at our Bitcoin and Ethereum comparisons using market cap ratios.

Cardano is very very close to price discovery in the ADA/BTC ratio and not all that far away from the same in the ADA/ETH ratio. ADA has A LOT of momentum right now and I wouldn’t be surprised if it breaks into new territory on the BTC pair this week.

That’s it for the weekly recap. Hope you all have a great rest of your weekend!

Before You Go

Comments are turned on for this post. I’d love to hear your thoughts, questions, feedback, and reflections below!

This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies