On Wednesday (August 25), one of the hosts of the very popular YouTube channel “Altcoins Daily” found an interesting way express to the channel’s over 462K fans on Twitter how “hugely bullish” he is on Cardano’s $ADA token.
One of the major two reasons for his bullishness on Cardano is the upcoming Alonzo hard fork, which provides support for smart contracts, which is expected to go live on the Cardano Mainnet on September 12.
#Cardano hodlers – September 12th isn't the target. It's the starting line. 🚀— Altcoin Daily (@AltcoinDailyio) August 25, 2021
As you may remember, on August 13, blockchain technology company IOHK (aka “IOG”), which is responsible for the research and development of the Cardano protocol, announced the date for the Alonzo hard fork on the Cardano mainnet.
During Cardano’s “Mid Month Development Update” event on August 13, Nigel Hemsley, Head of Delivery & Products at IOHK, told Tim Harrison, Marketing & Communications Director at IOHK, that Cardano’s Alonzo hard fork combinator event has been scheduled for September 12.
The other major reason for Altcoins Daily’s bullishness on Cardano is the announcement on August 25 by blockchain startup dcSpark about its novel sidechain project (named “Milkomeda”), which will allow EVM-compatible smart contracts to be executed from the Cardano mainnet.
Ethereum smart contracts on Cardano! Glad to see someone getting into that Pond https://t.co/DH9D1v4ahh— Charles Hoskinson (@IOHK_Charles) August 25, 2021
Furthermore, the Milkomeda project promises in future to deliver interoperability between Cardano and other layer one (“L1)”) blockchains, such as Solana.
Later that day, dcSpark CTO Sebastien Guillemot, who is the former VP of Engineering & Cardano Product Manager at EMURGO, tweeted about the Milkomeda project and said that the company he co-founded is “building a sidechain to allow Ethereum devs to deploy their Solidity dApps to Cardano.”
In a YouTube video released yesterday, Altcoins Daily host Aaron Arnold talked about seven altcoins that he is very bullish on: Ethereum, Cardano, Solana, Chainlink, Avalanche, Enjin, and XRP.
According to a report (published earlier today) by The Daily Hodl, with regard to Cardano, he had this to say about Cardano’s upcoming Alonzo hard fork and the Milkomeda sidechain project:
“This is big news for Cardano as they’re approaching their smart contracts September 12th upgrade. Something else has popped up, which is pretty, pretty cool. Cardano is getting an Ethereum-compatible side chain…
“The side chain will use wrapped ADA as the assets to pay for transaction fees… This is better for Ethereum, this is better for Cardano. The point is everything is becoming interoperable, and it’s good that all of these networks are working with each other and talking to each other. Hugely bullish on Ethereum. Hugely bullish on Cardano.“
Finally, earlier today, crypto analyst Ali Martinez talked about $ADA’s recent price action:
#Cardano seems ready to bounce off the lower boundary of a channel where its has been contained since Aug 9. The TD flashed a buy signal on the 4hr chart & $ADA has moved back above the 50SMA.— Ali Martinez (@ali_charts) August 27, 2021
Further upward pressure could see #ADA target the channel's middle or upper trendline. pic.twitter.com/1yRAgLyXaL