The Coming Cardano Boom. | Summary and Q&A

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September 15, 2021
by
Brian Jung
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The Coming Cardano Boom.

TL;DR

Bitcoin's golden cross and resistance level break suggest the start of a new altcoin season, while Cardano's flat price may be due to low demand for Ethereum-related assets. The Alonzo upgrade for Cardano has shown promising results with over 100 smart contracts processed within 24 hours. The potential approval of Bitcoin ETFs and Solana's recent network crash are also important factors to consider in the market.

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Questions & Answers

Q: Why hasn't Cardano's price seen significant growth despite the Alonzo upgrade?

Cardano's price has been affected by the overall flatness of the crypto market, particularly with the decrease in demand for Ethereum-related assets.

Q: How many smart contracts has the Alonzo upgrade processed within its first 24 hours?

The Alonzo upgrade has already processed over 100 smart contracts within its first 24 hours, indicating its successful implementation.

Q: What milestone has recently been achieved by Cardano with the ada lend.finance protocol?

The ada lend.finance protocol, which brings decentralized lending to the Cardano blockchain, has sold out its private sale of 1.8 million Cardano native adal tokens in less than one hour, showcasing the market's interest and support for Cardano.

Q: What potential factor could greatly impact the crypto market?

The potential approval of Bitcoin ETFs by the SEC in October to November could have a significant impact on the crypto market, leading to increased investor participation and potentially driving prices higher.

Q: Why did Solana experience a dip in price?

Solana's network crashed due to an overwhelming number of transactions, which caused temporary panic and a dip in its price. However, such events often present buying opportunities for investors.

Summary & Key Takeaways

  • Bitcoin's golden cross and resistance level break indicate the beginning of a new altcoin season.

  • Cardano's price has been relatively flat due to low demand for Ethereum-related assets.

  • The Alonzo upgrade for Cardano has processed over 100 smart contracts within 24 hours, showcasing its potential.

  • The potential approval of Bitcoin ETFs and Solana's recent network crash are significant events affecting the market.

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