Cardano Dan's Newsletter - Issue #109

Small to Great

Quote of the Day

“Small opportunities are often the beginning of great enterprises.”

— Demosthenes

I began researching Cardano in 2017. My interest started as a small investment opportunity. Fast forward to today and that small opportunity has turned into quite a few exciting things all at once - investment, stake pool operation, newsletters, NFT collections and partnerships, NFT Key (project catalyst initiative) and more. I hesitate to say I have a “great enterprise” going, but maybe someday it could be that.

Sometimes, small opportunities turn into really big things. The trick is knowing which ones have that potential. The special thing about Cardano, the thing that gives it that potential, is that it’s aiming to change the way financial access and services are delivered to the whole world.

What small opportunities do you see around you? Maybe one of those is worth pursuing. Just make sure it has the potential you’re looking for.

Key Takeaways from the Past Week

Monday - Taxation without Legislation

Monday we discussed how governments use inflation as a form of taxation and checked in on Jerome Powell’s dovish stance coming out of the virtual Jackson Hole summit.

Wednesday - Greatest Mistake

Mid-week I talked about how fear can be a bigger mistake than mistakes themselves and had a Cardano-only set up updates because so much is going on in the ecosystem right now.

Friday - Saying No

Friday’s newsletter paused to reflect on the counter-intuitive reality that, to do great things, you need to say no a lot. Put this together with today’s update about small opportunities and they seem like a paradox. But it isn’t; the key is finding the right small opportunities to say “Yes” to!

Technical Analysis

Cardano ADA broke $3 this week! Exciting stuff. Since then, ADA has pulled back below $3 and is currently about even for the week. Even breaking $3, the weekly volume looks to end substantially lower than the three prior weeks (barring a huge volume day on Sunday).

I like that Cardano ADA is just steadily moving higher. There have been some red days along the way that provide relief so that there aren’t massive pullbacks during this new move higher. After such a strong 3 weeks, it’s good to have a breather week or two in my opinion.

Looking at the crypto majors performance since March 2020 lows. Cardano ADA continues being the leading crypto major for this bull cycle without any doubt. Hard to believe that just a couple days ago, this chart looked even better.

Finally, looking at the market cap ratios against Bitcoin and Ethereum… ADA is seeing a slight pullback against Bitcoin this week and a larger pullback against Ethereum. In context of larger timeframes, no concern at all here. Weeks like this are to be expected.

That’s it for the weekly recap. Hope you all have a great rest of your (extended holiday in the U.S.) weekend!

Before You Go

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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