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Cardano founder Charles Hoskinson discusses ‘bitcoin maximalism.

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  • Cardano founder Charles Hoskinson recently sat down with Insider for an interview.
  • He discussed a wide range of topics from the future of DeFi, to what he called “bitcoin maximalism”.
  • The cardano network is one of the fastest growing blockchains and can now carry smart contracts.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

How DeFi needs to turn into ‘real-fi’ and his plans for digital transformation in Africa in a recent interview. Here are the 10…

Cardano founder Charles Hoskinson believes no one blockchain will dominate the crypto sector, but rather, there will be an “internet of blockchains.” The network recently underwent a major upgrade that gave it the ability to host smart contracts and other applications like non-fungible tokens.

Its native ada token has gained nearly 1,250% this year, and is now the third-largest by market capitalization, behind bitcoin and ether.

Hoskinson recently spoke with Insider about the key alonzo network upgrade, the future of decentralized finance and how smaller blockchains like cardano haven’t yet seen the benefits of institutional investors jumping on the crypto bandwagon.

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He covered a variety of subjects, ranging from maximalism in the crypto space, welcomed more “quality standards” for networks and even spoke about his upcoming tour in Africa – the world’s third fastest growing crypto economy.

Here are the 10 best quotes, lightly edited for clarity:

  1. “Unfortunately in our industry, there’s a great degree of maximalism if you go and talk to a bitcoin person, they are like: ‘bitcoin is the only truth and everything else is a sh*t coin’.”
  2. “The other thing is DeFi needs to turn into ‘real-fi’ and needs to grow up, so that means it needs governance and true decentralization.”
  3. “It needs to have metadata standards, it needs to have quality standards, it needs to have real customers, it needs to have identity built in, all these types of things.” – on what decentralized finance needs to mature.
  4. “What’s great about cryptocurrencies – they’re divorced from humanity in this respect.”
  5. “It’s not necessarily about who’s cheapest right now, it’s about variance.” – on discussing transaction fees on different crypto networks.
  6. “(I am going to) go right to Africa, and we’re going to South Africa, we’re going to Tanzania, Zanzibar, Burundi, Ethiopia, Kenya and Egypt and we’re meeting five heads of state.” – on his upcoming tour of Africa, where crypto adoption has soared 1,200% in a year.
  7. “This (funding) round (raised) $4 million – we think over 50,000 participated, and – that engine keeps growing.” – on Cardano’s latest funding efforts.
  8. “Almost all the growth has been like bitcoin – organic, and it didn’t have some centralized driving force that was doing market-making deals behind the scenes. Now that was a double-edged sword, it meant it took a hell of a lot longer for us to get listed on Coinbase.” – on the challenge of purely organic growth.
  9. “(Institutional investors) tend to only buy bitcoin – but they’re starting now to use utility impact, environmental concerns and other things as investment criteria, which excludes bitcoin.” – on investor reservations over bitcoin.
  10. “So then they have to move down the line and actually have to go with proof of stake systems and we’re the largest. So we think we should get the lion’s share of those allocations.” – on cardano’s edge over its competitors.

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Cardano

Cardano (ADA), XRP Price Could Retest These Levels Before Skyrocketing!

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  • XRP could possibly hit highs of around $1.2. Extreme sell-offs would plummet XRP below $1.
  • ADA might hit its resistance around $2.4 but could test its support levels before the uptrend.

  The crypto space has been a rough sail for altcoins such as XRP and ADA. However, the coins have managed to withstand strong and gusty winds. Meanwhile, investors and traders are eagerly waiting for a pull-out from the blues.

XRP Price

XRP at press time is trading at $1.09, with negative gains for the last 24-hours at 1.1%. The market cap stands at $51,193,598,011. While the trading volume for the last 24-hours hovers around $3,742,571,734. 

XRP has been moving along the descending triangle. A triple top formation is visible on the charts. The coin has attempted to break through each time and has failed to keep up the momentum. 

The digital asset has been moving along a narrow range. If it breaks out the triangle, we can expect it to reach its resistance at $1.2. On the contrary, XRP would move across the narrow range. However, extreme sell-offs would result in XRP plummeting below $1.

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Cardano (ADA)

Cardano, the top-tier altcoin at press time is trading at $2.16 with negative gains at 1.1% for the last 24-hours. While the market cap is at $69,172,092,701. The trading volume for round the clock floats around $1,749,372,395. ADA has not let its foot lose at its level of  $2.0, despite the crash. However, massive sell-offs might result in ADA plunging to its strong support levels. Prior to rebounding to its resistance around $2.4

Collectively, XRP and ADA could propel towards their respective resistance levels in near future. And hopefully, bullish momentum could follow with the commencement of the alt season. Netizens are expecting a massive rally to follow, as it has been due for a brief period of time.

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Cardano (ADA), XRP Price Could Retest These Levels Before Skyrocketing!

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  • XRP could possibly hit highs of around $1.2. Extreme sell-offs would plummet XRP below $1.
  • ADA might hit its resistance around $2.4 but could test its support levels before the uptrend.

  The crypto space has been a rough sail for altcoins such as XRP and ADA. However, the coins have managed to withstand strong and gusty winds. Meanwhile, investors and traders are eagerly waiting for a pull-out from the blues.

XRP Price

XRP at press time is trading at $1.09, with negative gains for the last 24-hours at 1.1%. The market cap stands at $51,193,598,011. While the trading volume for the last 24-hours hovers around $3,742,571,734. 

XRP has been moving along the descending triangle. A triple top formation is visible on the charts. The coin has attempted to break through each time and has failed to keep up the momentum. 

The digital asset has been moving along a narrow range. If it breaks out the triangle, we can expect it to reach its resistance at $1.2. On the contrary, XRP would move across the narrow range. However, extreme sell-offs would result in XRP plummeting below $1.

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Cardano (ADA)

Cardano, the top-tier altcoin at press time is trading at $2.16 with negative gains at 1.1% for the last 24-hours. While the market cap is at $69,172,092,701. The trading volume for round the clock floats around $1,749,372,395. ADA has not let its foot lose at its level of  $2.0, despite the crash. However, massive sell-offs might result in ADA plunging to its strong support levels. Prior to rebounding to its resistance around $2.4

Collectively, XRP and ADA could propel towards their respective resistance levels in near future. And hopefully, bullish momentum could follow with the commencement of the alt season. Netizens are expecting a massive rally to follow, as it has been due for a brief period of time. 

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Cardano Price Analysis: ADA bulls and bears remain within a tight spot at $2.15

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  • Cardano price analysis is bullish today.
  • ADA/USD set a lower low overnight.
  • Cardano is likely to regain some of the loss today.

Cardano price analysis is now bullish, with a new lower low being established after a solid decline over the previous 24 hours. As a result, we expect ADA/USD to recover some of its loss later today as bears become weary.Cardano Price Analysis: ADA bulls and bears remain within a tight spot at $2.15 1 Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leaders, Bitcoin and Ethereum both traded in the red, with a loss of 2.88 and 2.99 percent, respectively. Meanwhile, Solana and VeChain (VET) dominate the market, with a gain of around 7.5 percent.

Cardano price movement in the last 24 hours: Cardano spikes below $2.15 previous low

During the last day, the ADA/USD pair fluctuated from a low of $2.13 to a high of $2.164, suggesting significant swings throughout that period. Volatility has increased by 27 percent, trading volume has increased by 27.43 percent and totaled $2.78 billion as of this writing, putting the coin in third place overall.

ADA/USD 4-hour chart: ADA set to reverse today?

On the daily chart, we can see Cardano’s price drop beginning to reverse as bears run out of steam after a significant fall.Cardano Price Analysis: ADA bulls and bears remain within a tight spot at $2.15 2ADA/USD 4-hour chart. Source: TradingView

Cardano’s price has remained stagnant for the previous several weeks. Cardano saw consolidation in a tighter range, with a lower peak at $2.30 near the start of October, after establishing a high low of $2.30 in early October.

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The next higher high of $2.30 was followed by a lower low set during the subsequent retracement, which was below $2.15. As a result, the overall trend for ADA/USD is still unclear.

We may see Cardano’s price recover some of its losses in the coming days. If a lower high is broken, we can anticipate bearish momentum to continue into next week.

Cardano Price Analysis: Conclusion 

Today’s Cardano price is in an upswing, according to most market forecasters. After a big drop, a new lower low was established today. Bearish momentum, on the other hand, has run its course, and we may expect a retracement in the next 24 hours.

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