Cardano Dan's Newsletter - Issue #145

Be a Friend

Quote of the Day

“The only way to have a friend is to be one.”

— Ralph Waldo Emerson

Friendships are so important to the quality of life. People with quality friendships are healthier and happier.

And much like other things in life, friendships are the product of what you put into them. The only way to have a friend is to be a friend. So invest in your friendships. Your quality of life will thank you.

Key Takeaways from the Past Week

Monday - Change on Your Terms

Monday we talked about change. It’s hard enough when it happens, you might as well make sure to change on your own terms when you can.

Wednesday - Home Runs

Mid-week we considered the reality that yesterday’s home runs don’t win today’s games. I’ve had a couple home runs in my life and this reality keeps me pushing hard.

Friday - Happiness

Friday I took note that happiness doesn’t come from accumulating money or things. This is important for people, with and without a lot of stuff, to remember.

Technical Analysis

I’m started to get the feeling again. Here’s the obligatory, THIS IS NOT FINANCIAL ADVICE.

The feeling is the result of the growing noise about Plutus Application Backend releasing soon and a bunch of DEXs showing off landing pages, user interfaces, concurrency solutions, etc.

Then there are major twitter personalities tweeting about ADA’s next big move. I’m not talking about myself in the third person. LOL.

The chart below shows a weekly view of the ADA bull run. Cardano previously consolidated between $1 and $2 for 5 months. It was only the Coinbase listing that spiked ADA briefly above $2 this spring.

If you ignore that spike, ADA has been effectively establishing that prior consolidation zone as new support for the past couple of months. That support is pretty well established at this point.

With that support established and big smart contract adoption on the horizon, I expect fireworks very very soon.

Looking at the crypto majors performance since March 2020 lows. ADA is no longer in a league of its own. SOL and BNB deserve recognition as being in the same neighborhood. However, ADA is still #1 for now.

I’m mostly interested in who takes the title for the best crypto major performer once the bull run is over. As you can imagine, I think Cardano ADA has a great opportunity to take the crown.

Finally, looking at the market cap ratios against Bitcoin and Ethereum… it’s been a fairly even week in both pairs.

ADA remains on top of important technical support levels in both of these ratios. I’m VERY interested to see how ADA will perform compared to Ethereum and Bitcoin when smart contract adoption begins.

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