Cardano Dan's Newsletter - Issue #126
Wisest Counselor
Quote of the Day
“Time is the wisest counselor of all.”
― Pericles
Sometimes when you need advice or counsel, the best thing you can seek is time. Maybe you have a particularly difficult situation you’re dealing with. These days, situations like this often happen over email or other forms of digital communication.
A strategy that I’ve found very helpful is to draft an email or response and let it sit in my drafts folder. I won’t even put the recipients in the communication so that I don’t accidentally send it. I draft my message and let it sit there and let time do its work.
You know what? The message rarely gets sent as it was written. Sometimes, time will change the circumstances altogether. Or perhaps I will have new insight or context that changes my perspective. Or my message can be refined to be better received. But regardless of what happens, time almost always improves the situation and results in the end.
In The News
Progressives are the first to blink in the negotiation between moderate and progressive Democrats over proposed U.S. budgets.
However, it seems as though rather than spending less, they rather want to put a temporary end date on the increased spending levels. This kind of chicanery drives me nuts.
Bitcoin Lightning tipping on twitter has been big news. Less covered news, but just as big in my opinion, is the work that twitter is doing on “Verified NFTs” in profile pics.
While the demo is related to Ethereum-based NFTs, the software engineer doing the demo is a Cardano enthusiast who (if I remember correctly) played part of helping get Charles Hoskinson verified on Twitter - so you never know!
Cardano Updates
Chris and I are working on a new NFT project that we plan to launch towards the end of this month. We’ve brought in some new talent to help too.
There is a lot to pull together in a short period of time, but it is the right timing for this particular collection. Stay tuned for a lot more details over the coming weeks!
The deadline to register to vote for Project Catalyst Fund 6 is this morning! If you haven’t registered yet, make sure to act while you still can. Voting in Project Catalyst is a great way to help guide future development of Cardano and get a little additional ADA for doing so.
Technical Analysis / Price Discussion
Cardano ADA is waging war with the 50D EMA at the moment. In the short-term, ADA looks poised to break one of the trendlines. My continuing expectation is that it retest the May high of $2.47. Until that level is reclaimed as support, caution is warranted.
I expect some Debt Limit and Budget clarity to develop over the coming two weeks. Somewhere as that clarity comes into place, I’m expecting all of crypto, including Cardano ADA, to advance higher in the standard Oct-Dec move. ADA’s reclaim of the $2.47 level is more likely than not to correspond with this clarity.
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.