Cardano Dan's Newsletter - Issue #183
Give Me Truth
Quote of the Day
“Rather than love, than money, than fame, give me truth.”
― Henry David Thoreau
Truth is necessary. Sometimes the truth hurts. But truth that hurts is more valuable than happy falsehoods.
Am I the source of truth in this world? Absolutely not. But I do my best to share with you facts and my understanding of truth sometimes even when it isn’t popular.
I’m not always right, but I do my best to give you truth with love as much as possible.
In The News
The Federal Reserve is taking the next step towards launching a U.S. digital currency. I’m not surprised but I don’t want it. A digital USD will not fix the problems that Bitcoin and Cardano seek to fix. It will never have a maximum supply.
Markets are sending the very same Fed very clear signals about their plans to rate hikes. I place my over/under on how many days it takes the Fed to release some dovish statements at about 5 business days (by the end of next week).
Cardano Updates
Sundae Swap launched as the first AMM DEX on Cardano and it was a less than seamless beginning that included a major front-run transaction (read thread, not just first tweet) and a lot of user difficulty (I myself had numerous failed transactions in the UI only to have one make it on chain later unbeknownst to me). I haven’t been shy about my criticism of the project’s impact on stake pool operators either. Just not impressed all around.
The good news is that the network did not crash like other blockchains do under heavy loads. I think there will be other projects doing things much better soon along with a network that will scale to support a better experience too.Zombie Hunter whitelist sale begins tomorrow (Saturday) at 1700 UTC and runs for 24 hours! We are closely monitoring network conditions and will extend the sale window if that becomes necessary.
Make sure to join the Discord Server and follow Zombie Chains on twitter for the latest updates.
Technical Analysis / Price Discussion
The price of Cardano ADA cratered below important support once again as markets turmoiled as described in the news section.
Feels a lot like March 2020 and I don’t think the Fed can stand by and watch this market action much longer. But if they don’t change course, it will get much worse before it gets better.
The most noteworthy thing is how Cardano ADA is holding up compared to ETH today. ADA is 5-6% better than ETH on the day at the time of this writing. That’s seriously impressive stuff from Cardano in the midst of an otherwise horrible environment.
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.
The sundae swap ceo was a clinical assistant in 2021. The Coo was an intern in 2020. This team was anonymous to start until people started questioning them. Why would cardano/iohk invest in this team? With a treasury that this project has, it makes no logical sense why they'd invest in these guys over other people with real world experience in crypto. Whats your thoughts Dan?