There seems to be an agreement among a ton of cryptocurrency enthusiasts, and they all agree that Cardano is a great project and it has a ton of potential as well. However, the truth is that right now, the platform doesn’t seem to have any kind of working project yet. That also means that a lot of the value that comes from ADA really is speculation, rather than it being driven by real-world facts. To make everything worse, Cardano still has a lot of work to do in order for it to be seen as being at the top of its game.
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ADA has continued to decline and it is currently trading in the range of around $0.15 and $0.18. It has been declining over the last few days when you compare it to the USD and this is because of all of the events that are surrounding the market. It has lost around 25% of its market value from the week before and this is not good news at all. The result essentially means that there is a ton of selling pressure and the RSI is dropping to the rate where it is nearly becoming oversold. ADA could drop to a low of $0.14 before the bulls come back up and this could push it to make a recovery. That being said, the value of ADA may rise in the third quarter and if you are wondering why then you can find out whatever you need to know, right here.
The one thing that is keeping Cardano on the right track is Bootstrap Byron. This stage is not decentralised yet and all users can really do at the moment is trade and then transfer their ADA. As of right now, this isn’t good news for the coin at all and this is especially the case when you look at all of the other factors that are present. It may even find itself being classed as a security by the SEC, but Shelley has provided it with a path that could eventually result in it being a fully, decentralised platform. The team at IOHK have been working on Shelley and they have a single goal for the platform. When they have been able to achieve this goal, they can then open up the platform in its entirety and this could then increase the value of the ADA coin. When you look at the forum for Cardano you will soon see that Shelley is destined to upgrade both the network and the node protocol. This is going to be done in a way that works in favour of it being decentralised, and it also means that Cardano will no longer be reliant on IOHK and numerous other bootstrapping stakeholders. The network will be able to maintain and support itself, and this is great news to say the least. Shelley is on track to be implemented in the third quarter and it is very safe to assume that when Shelley arrives, it will certainly coincide with the ADA in use. This could also mean that the rewards and even the staking system is one of the most anticipated things to happen on the market and the platform right now.
One of the areas that Cardano seems to be lacking in is the banking side. It seems right now that the IOHK team are working on that and that they have a lot of input from the Emurgo Foundation. They have made leaps and bounds and they have certainly been given a ton of acceptance when it comes to being accepted. One area that they have been working on is their tech in Africa. They have held talks in Rwanda at the moment and other countries that are showing interest include Tunisia and even Kenya as well. It is probably only going to be a matter of time before all of this spreads to other third world countries.
There are of course, other partnerships available with other platforms. Of course, they have also teamed up with research companies, institutions and more, and they all want to try and implement using ADA. After Emurgo were able to secure their deal with the Metaps company, IHOK went on to deal with ZenCash and this is designed to boost their overall security and their level of anonymity as well. The team have also been working on KVEM and the IELE test nets. These partnerships help the platform to grow rapidly and they also ensure a high rate of adoption as well. ADA is ultimately getting a lot of penetration and the listings that are on the major platforms that are across the world. Accessibility is key here and the coin is getting that at the moment. The coin is tradable on over 30 different platforms and when you look at ADA and KRW it is a top trading pair.
Cardano is among other coins and this includes Bitcoin, Litecoin and even Ethereum. It’s a move that could see the coin adopt a worldwide acceptability and this could see them get a huge level of visibility. This therefore increases the chance of it growing in the future and the trading volumes are increasing right now as well. This is all a good sign for the coin. So as a verdict, the third quarter could see ADA making huge jumps and this is all down to the fact that more people are using it. This could put the coin on a jump up to $1 and from there, anything is possible. There is a prediction of the coin reaching $5 in 2019 and then $10 in 2022. If you are an investor looking to make a quick buck, then Cardano is the one coin that you should be looking at.