Cardano Dan's Newsletter - Issue #88
Dare to Dream
Quote of the Day
“Deep into that darkness peering, long I stood there, wondering, fearing, doubting, dreaming dreams no mortal ever dared to dream before.”
― Edgar Allan Poe
Many people investing in cryptocurrencies are “dreaming dreams no mortal ever dared to dream before.”
Keep in mind, these dreams are only legitimately possible because our financial world is being so badly manipulated at the same time that new software technology has been invented to enable true digital money.
Nevertheless, these dreams are possible. I shared last newsletter that, “If you want a guarantee, buy a toaster.” Well, if you want to dream dreams no mortal has ever dared dream before, you’ve come to the right place.
In The News
Apparently the Ethereum London Hardfork scheduled for August 4th is at risk of delay due to security concerns.
Proof of Stake protocols are not easy to design, develop and deploy and they’re even harder to transition to from Proof of Work.
Binance announced numerous changes to their services in ongoing attempted to get their regulatory house in order. These include withdraw limits for new users and users that have only basic user verification, limited leverage for new user accounts, and a new tax reporting tool API. Here’s a tweet to more info.
Cardano Updates
CNFT.IO, a Cardano NFT Marketplace, launched earlier this week. This platform is brought to you by the same people behind Cardano Kidz, Professor Cardano, and Finger Monsters to name a few.
This is an exciting new platform that I can’t wait to try. I’m considering selling the first of my Cardano Dan’s First NFT Collection on this CNFT. Stay tuned for more news about that sale.
Adam Dean open-sourced a new WooCommerce plugin to enable ADA payments for WooCommerce stores. Huge kudos to Adam for this great work. Also, I absolutely love the logo.
Well, today felt like a good day to do it... github.com/cardano-mercur… #Cardano #Mercury is now live and open-source on GitHub in Version 1.0 Beta! Accept $Ada payments in your #WooCommerce store and run wild. Simple, clean code, no middle man or fees; just unlocked e-commerce.
Technical Analysis / Price Discussion
ADA continues to slowly progress towards reclaiming the 50D EMA first and then the all-important $1.50 level next. After that, I think we advance rather quickly.
As you’ll see below, ADA is leveling up in a healthy way. Since July 20th, it breaks through resistance, consolidates, then repeats.
Also, it’s important to keep an eye on Bitcoin behavior right now. Below I share a view of Bitcoin’s last market cycle overlaid on top of this market cycle. I’m not betting against this pattern. History doesn’t repeat, but it does rhyme.
Expecting an advance from Bitcoin over the coming weeks, I think ADA reclaims $1.50 before the end of August.
I’d love to hear your thoughts on the current price action and what you expect over the next few weeks. Leave a comment and let me know.
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.