Cardano Dan's Newsletter - Issue #128
Vast Views
Quote of the Day
“Power always thinks it has a great soul and vast views beyond the comprehension of the weak.”
― John Adams
Are you in a position of some kind of power or authority? If so, it’s easy to think that you have a “great soul” and much better insight and awareness than those under your power or influence.
It’s almost definitely not true. If it was true, your superior character and intellect wouldn’t be focused on itself. Rather, you would focus on how to serve those under your authority.
If you’re fortunate enough to be in a position of power, consider how you can serve the people you lead. By focusing on and serving others, you become great without thinking about it.
In The News
Senate Republicans and Democrats reached a deal to extend the debt-limit but set up another battle in just a couple of months.
I learned some new things from this Bloomberg investigative report on Tether. It’s a really interesting read and reveals, among other things, that Tether has loaned a lot of money to Celsius and other crypto companies according to the report.
Cardano Updates
Nexo Finance is now offering ADA deposits, withdraws, and the ability to earn interest. More and more platforms add Cardano-based services every week.
Fund 6 voting in Project Catalyst is now open! 44.5K wallets holding 3.58B ADA are registered to vote! Cardano’s DAO is a critical piece of the overall protocol and project. Make sure that you are participating in governing the future of Cardano. If not in Fund 6, then the next one.
Technical Analysis / Price Discussion
News about Cardano is pretty light right now. We’re in the post Alonzo launch, post summit, pre-adoption pre-DEX phase of things.
As a result, ADA price action is pretty boring. Bitcoin is moving and ADA is holding its own above the green trendline and above 50 & 100D EMAs.
Soon there will be DEX news, adoptions news, Hoskinson Africa news and more. Often times, people will chase the price action of coins that have recently pumped. This is the opposite of what great investors do, especially in crypto. When the market starts moving, shorter term traders look for projects set up for a good move, but that haven’t moved yet.
If I were trading short-term (I’m not), Cardano ADA has the attributes of a trade I’d be considering in the near-term. It has all the news coming that I mention above, and it looks to be holding important long-term support while breaking short-term resistance.
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.