Cardano Dan's Newsletter - Issue #77
True Strength
Quote of the Day
“The ballot is stronger than the bullet.”
― Abraham Lincoln
Cardano investors have a lot of strength! They get to “vote” in a variety of ways that have a significant impact on the ecosystem.
You can truly “vote” using your ada when it comes to Project Catalyst (more about that in Cardano News item #2). You can also symbolically vote when it comes to delegating your ada with a stake pool to earn rewards.
Both of these actions are a way for you to support the types of behavior you want in the ecosystem.
It’s been a while since I’ve mentioned our stake pools in this newsletter. If you enjoy these newsletters, please delegate to my pool DAN2 or my partner pool RELY. Both pools are high performance and relatively low fees compared to other pools and the proceeds from them support other Cardano-related activities like this newsletter.
When people delegate to our pools, we consider it encouragement and affirmation that our work in the Cardano ecosystem is appreciated. It means everything to us. Thanks for your support!
In The News
Circle, the parent company of stablecoin USDC, announced it is going public. Circle executives estimate that the amount of USDC in circulation could more than double by next year.
I personally have more confidence in USDC reserves than I do in USDT reserves, so I’m more likely to use USDC than USDT for anything longer than a quick trading position.
I suspect I’m not alone and that is one of the biggest reasons for the growth in USDC.
A survey of British cryptocurrency investors suggests that 2 out of 5 investors have “poor or non-existent” understanding of the industry or technology they’re investing in.
This is scary. I beg of you to research and understand what you’re investing in before you take the plunge into crypto.
The technology and rewards are amazing. But so are the risks and volatility. Look before you leap!
Cardano Updates
Charles provided a quick video update on the status of the Alonzo rollout.
What I liked about this video is that it was no-nonsense. It was short, to the point, and factual. No hype. To me, it sounded like someone who knows that victory is well within reach, he’s just focused on making it happen at this point.
It’s a short update, well worth the watch. Only 4 minutes if you watch it at 2x speed.
The weekly Project Catalyst town hall took place yesterday. Voter registration for Fund 5 is now open!
If you’ve been waiting for hardware wallet support for voting, there is now a Daedalus wallet that supports it and Adalite supports hardware wallet voting too!
You have until July 19th to register so that you can vote in Fund 5. Please do so and vote for our NFT Key proposal beginning on July 22nd!
NFT Key will provide a service to verify and track ownership of NFTs. Ownership info available via APIs will enable access to gated services.
Technical Analysis / Price Discussion
Many charts are boasting really ugly looking head and shoulders patterns. Bitcoin and Cardano are shown on top of each other below.
As it relates to chart patterns, here is some sage context from a famous professional trader.
I’m really glad to see this from Peter. It seems to me that more often than not, people see and talk about patterns that never “fulfill its implications”.
These head and shoulder patterns could well be fulfilled, and if they do, it will be really ugly. But I personally am still not expecting that to happen. I think the bull run is still in effect.
I’m prepared to HODL if I’m wrong because I believe in and understand the technology.
Are you concerned that ADA and crypto may break downward in a big way? Let me know your thoughts in the comments.
Do you know anyone that would benefit from my newsletter? Please share it with them today!
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.