Cardano Dan's Newsletter - Issue #37
Cardano Passion
Quote of the Day
“Science is not only a disciple of reason but, also, one of romance and passion.”
— Stephen Hawking
This is how I started out the day feeling.
The day did not disappoint. The thing that stuck out to me the most while listening to the Cardano Africa special was the passion. The Input Output Media team did such a great job communicating the passion of everyone involved in the project. It was inspiring and left me feeling this way as I was watching
…(“could” was supposed to be “couldn’t”)…
You all know how much I talk about the price of ADA. So that’s really saying something. But I meant it.
Do you want to accomplish something special? Do you want to change the world? Even the field of Science & Technology is a disciple of romance and passion.
The Cardano team and community have both of those things. Romance and passion. Our technical approach is a disciple of them. It’s informed by them. Led by them. Taught by them. For that reason, I believe, we are going to Change the World together and I felt that through and through while watching the Africa Special today.
Keep reading for my big takeaways…
Cardano Africa Special Takeaways
Last newsletter, we talked about the news of Ethiopia using Cardano as part of a Ministry of Education initiative. We learned more details about how 5 Million African students will receive Digital Identifiers (DIDs) and the impact it could have and what it could mean moving forward.
“Before you can bank the unbanked, you need to connect the unconnected.” Forget DeFi, welcome to RealFi. A new initiative with World Mobile was announced to connect the unconnected in Tanzania and Zanzibar by delivering fast and cheap internet.
This is a necessary step before “banking the unbanked". Cardano is partnering with World Mobile to onboard 100k subscribers this year. Every subscriber will have a DID on Atala PRISM and RealFi loans will begin in 1Q22 - loans provided with through Cardano Liquidity. If you watch one video segment, watch this one, it’s the one that made me want to go run around the block like Rocky.
COTI upgraded ADA Pay to work on the Shelley network and is working to streamline donations to charitable organizations.
Finally, the Cardano team shared some objectives. You could almost call them Key Performance Indicators. They shared that there are 30M identities in the pipeline for Africa THIS YEAR and are targeting 100M identities on Cardano over within next two years. RealFi is coming.
NOT in The News
Coindesk is really struggling to cover Cardano-related news. Charles addressed their ineptitude and bias in a post-special video update. You should take this bias into account when you come across Coindesk content.
Technical Analysis
Some may be disappointed in the ADA price action during and after the Africa special.
I'm not at all disappointed. When we do move up from this level, it will be with really really strong support. We are putting in so much volume at these levels. It’s really really healthy consolidation.
The yellow and blue bars on the right are the Volume Profile Visible Range indicator. They show how much trading volume has occurred at each price level. It’s a very useful indicator for identifying important resistance and support levels.
You can clearly see that our current consolidation range has has a lot of volume put down. Like I’ve said numerous times, this is really good from a long-term perspective.
What do you think? Are we forming strong support for the future?
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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.