Cardano is showing early signs of recovery after bouncing from a key Fibonacci support.
The Cardano Foundation announced a partnership with Reef Data eG on July 28, backed by Hamburger Volksbank, ARIC, VALIO, and Disruptive Elements. Reef plans to pool members' personal data, license it to businesses, and pay royalties back to contributors.
The Cardano community is marking 6 years since the historic Shelley upgrade that brought staking to the network.
ADA rebounded from $0.1535 to $0.1638 as RSI flipped back above its signal line. But $0.1751 has to fall before $0.18 is on the table.
Cardano price risks falling 40%–50% as ADA forms bear pennant and bear flag setups targeting $0.096 and potentially $0.08.
Cardano founder Charles Hoskinson believes Bitcoin's next phase of growth could come through Cardano, allowing BTC holders to access decentralized finance without compromising Bitcoin's security or core principles. Speaking in an interview on Friday, Hoskinson said Cardano's architecture gives it an edge over rival blockchain networks competing to attract Bitcoin liquidity.
Cardano's once-criticized emphasis on selective privacy, proof-of-stake & broad token distribution may become the new industry standard.
The Cardano Foundation said that it partnered with Hamburg-based data cooperative Reef Data eG to record sales, reward distributions and member payouts on the Cardano blockchain. Using Reeve, the Foundation's open-source transparency platform, the project makes cooperative payment flows independently verifiable instead of relying only on internal records.
Charles Hoskinson, the visionary behind Cardano, maintains that the blockchain platform's “best days are ahead,” despite ADA's devastating 95% collapse from its September 2021 all-time high of $3.09.
The SecondFi wallet will permanently close its regular operations, but has presented a roadmap to compensate victims of the June cyberattack. In partnership with Input Output Group and the Cardano Foundation, the team will deploy the first Web3 compensation tool built on zero-knowledge (ZK) proofs, seeking to restore 16.1 million ADA (approximately $2.
The developers of the Cardano wallet SecondFi have officially presented a step-by-step roadmap for dealing with the consequences of the June hack. The project is permanently winding down its regular operations and will not return to normal service.
Charles Hoskinson, co-founder of Cardano, has indicated that Bitcoin may not hold onto its position as the leading cryptocurrency indefinitely if its governance structure cannot effectively manage the challenges of quantum computing.