Cardano Dan's Newsletter - Issue #162
Sweet Fruit
Quote of the Day
“Patience is bitter, but its fruit is sweet.”
― Aristotle
Recent Cardano ADA holders know that patience can be bitter. In my early days of cryptocurrency investing, I learned this lesson the hard way. Taught by many cryptocurrencies, not just ADA.
But I also learned that patience’s fruit is sweet. And my hope and expectation is that, if you’re new to the space, you’ll also experience the sweet fruit of patience first hand soon.
In The News
Bitmart lost $196 million in a recent hack and said they will use their own money to reimburse victims. Bitmart users are fortunate.
This is an example of why you should withdraw your crypto from an exchange if you’re not trading. Not your keys, not your coins.
New York City’s mayor announced a vaccine mandate on all private businesses that goes into effect on December 27th. NYC is also mandating proof of vaccination to enter restaurants, entertainment venues and gyms and the mandate applies to children as young as 5 years old!
Unsurprisingly, many people are not pleased. NYC has already seen an exodus of workers to Florida and other places. City leadership may want to rethink their approach before their tax base dries up.
Cardano Updates
Sundaeswap is live on the Cardano Testnet and a new entrant another new entrant to the space announced plans to go live on Mainnet this week. Here are my thoughts on the DEX space today:
Zombie Chains Part II - Zombie Hunters will drop in January 2022. There are several ways to gain enough Zombie Chains Points to guarantee access to the drop including delegating to my stake pools or partner pool.
You don’t want to miss Zombie Hunters. Find out more in the announcements channel of the Zombie Chains discord server!
Technical Analysis / Price Discussion
Cardano ADA saw three wicks drop below bull channel support over the past three days. But each of those days saw significant buying pressure to push price back up into the bull trend channel.
It’s not really a surprise when you look at the Volume Profile indicator and see how much volume has traded at the level that’s being bought. It represents substantial support.
As mentioned above in the Cardano news, if DEXs launch on Cardano at the same time crypto sentiment flips from bearish to bullish - look out above!
It’s looking increasingly likely to me like that could really happen.
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.
Keep up the great work, big help during the ups and downs ! Eric
Thank you for your good work! 🙏