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Cardano Summit 25th -26th September! What to expect for Cardano This weekend

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Cardano community is awaiting September 25th to welcome the Cardano summit 2021! Prior to the event, Cardano officials revealed innovations that are going to happen. The main focal point of discussion will be Hydra, a key layer-2 protocol to boost Cardano’s scalability. That update is the most advanced and fresh development enabled by Alonzo Hard Fork.

Hydra Protocol – Cardano’s Solution for Flexible Layer-2 Scalability!

After thorough research from team IOHK, the Hydra paper was released. It is going to be one of the significant milestones in the development of ADA. Hydra protocol advances Cardano’s Proof-of-Stake scalability. Hydra will be the game-changer for the Cardano ecosystem, this layer-2 scalability protocol aims to maximize throughput, minimize latency, cost-efficient and considerable requirements. 

Charles Hoskinson said that team has got lot’s to say about Hydra at the Cardano summit. In addition to this, the Cardano community raised curiosity among community members revealing possible events. According to the team, the Cardano summit is going to witness 40 community-led events, 7 main summit events, 60 community hosts. A mix of virtual and live events from around the world.

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what can you expect at the Cardano summit?

The Cardano Summit is the inclusion of virtual worlds for users to explore. They are named Main Stage, Utility, Governance, Impact, Adoption, Catalyst, and Community.

In addition, just like in a virtual world game, attendees can interact with others in a “speech bubble” when in close virtual proximity.

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There’s also a raft of videos, including the thing investors most want to know about, news of major announcements. As well as updates and interviews over the two days.

  • Seven virtual worlds to explore
  • Avatars that let you talk to community members from around the world
  • 48 hours of exclusive content
  • 80 exclusive videos from keynotes to major news announcements, updates and interviews & community showcases
  • Limited edition NFTs to collect

Cardano Outpowers Ethereum by 150% Prior to Cardano Sumit!

Prior to the Summit, Cardano price seems to be ‘Calm before the storm’! According to the report of Messari.io, Cardano’s trading volume outpowered Ethereum by a large margin. Well, Cardano with $14.90 billion trading volume over the last 24 hours topped the list of smart contracts sector. Ethereum’s trading volume being $9.98 billion over the last 24 hours. 

adaeth
Source: Messari.Io

Interesting note, even with low transaction volume Ethereum price collected in the last 24 hours is $33.47 million with 548,934 active addresses! And ADA surprisingly, with 150% more transaction volume than ETH collected only $41.19K fees. Followed by ADA and ETH, Polkadot stands at 3rd place in the Smart contracts platform with $1.15 billion transaction volume in the last 24 hours.

Raoul Pal Sees Potential Growth in Cardano

In a new interview with Bitboy Crypto, Raoul Pal, the founder of Real Vision and Global Macro Investor said that he finds Cardano interesting and sees potential growth opportunities for the third-largest crypto.

Pal Said that, 

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I Like The Project. I Think It’s Very Interesting. We Really Need To See More Network Adoption, So It’s Early For Me… It’s Doing Well. There’s A Big Community Behind It So That Gives You One Side Of The Network. We Need To See More Use Cases Outside Of The Ethiopia Case That’s Being Talked About A Lot. I Own Some And I’m Just Waiting To See. Is It Going To Start Getting A Lot Of Traction, People Building Stuff On It?”

Pal also shared his view on Cardano’s Alonzo upgrade bringing smart contracts functionality to the blockchain.

“I Know People Are Waiting For The Smart Contract Side So You Know. Maybe It’s Not The Biggest Outperformer In This Cycle, But You Know If It Survives This Cycle And Continues To Get Adoption, It’ll Probably Do Very Well On The Next Side.”

Additionally, Pal disclosed that he is also interested in social tokens that are designed to transform traditional business models, pointing towards Chiliz (CHZ) and Rally (RLY) as two early leaders in the space.

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What Happened To ADA Price? Is Nothing Been Built On Cardano?

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The crypto space is preparing to leap long after the recent sell-offs and if following a steady approach to pull the next leg up. However, one such crypto which appears to be pretty happy and contented at its current levels is Cardano. The ADA price after a steep downfall has yet again initiated with consolidation within a narrow trend. 

Today, Ethereum price surged with a notable margin and many altcoins also followed the second largest crypto. Terra(LUNA), Solana(SOL), Avalanche(AVAX), etc have been raised, but Cardno still remained within the same levels. The  Cardano remained distinct without following the ETH price. And also showcases the asset behaving similar to that of a stable coin.

adaprice
Source: Tradingview

Amid the fresh plunge, it was believed the asset may revist the strong support levels at $1. However, the asset managed to pause the downtrend for some time and began with a healthy accumulation. The ADA price in order to register its name in the upcoming altseason needs to coil up notably and pierce through the $1.98 levels. 

On the other hand, the traders may also have remained much distinct from the platform. As no notable change with the ADA price may rise the possibilities of no major developments happening on the platform. And hence Cardano price has to flip the consolidation and thrive through the local resistance at $1.8 to march towards its highs. However, the huge target still remains pretty much distant.

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Cardano-Based DEX Announces Date of Testnet Launch

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A major Cardano-based decentralized finance protocol is about to launch its testnet

Cardano-based decentralized exchange SundaeSwap has announced that its testnet launch is going to take place on Dec. 5. 

Thousands of users will be able to try out one of the most notable projects on the Cardano network.  

The purpose of the testnet is to discover some bugs and inefficiencies ahead of the upcoming mainnet launch.

It will also help the Input Output team to adjust the performance metrics of the network so that it can work smoothly under heavy load:

Our testnet is the perfect opportunity to put the new parameters under load so they can assess performance and further raise these limits. 

Implementing such incremental changes will be crucial for making Cardano scalable enough for the decentralized finance sector.  

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In late September, SundaeSwap forged a partnership with Nervos, China’s top public blockchain. 

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Here’s What’s Next for Cardano, Shiba Inu, Terra and Two More Altcoins, According to Crypto Analyst

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A popular crypto strategist and trader is plotting what could be ahead for Cardano (ADA), Shiba Inu (SHIB), Terra (LUNA) and two other altcoins.

Pseudonymous cryoto analyst Altcoin Sherpa tells his 154,100 Twitter followers that he is short-term bullish on ADA after the smart contract platform managed to stay above support at $1.48.

“ADA: Not a bad place for a long. Support/resistance level, 0.50 Fibonacci level too. I still wouldn’t hodl (hold on for dear life) this though. It would be a swing trade.”

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Source: Altcoin Sherpa/Twitter

At time of writing, Cardano is trading at $1.56, down 2.85% in the last 24 hours.

Next up is popular meme coin Shiba Inu. According to the crypto strategist, he’s expecting SHIB to ignite a quick bounce before resuming its downtrend unless the Dogecoin competitor manages to consolidate around $0.000047.

“SHIB: Short-term bottom is probably in. Expecting some sort of lower high to form. If this consolidates at the 0.50 [Fibonacci level], a more explosive move will come (But it’s going to take a much longer time in my opinion).”

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Source: Altcoin Sherpa/Twitter

SHIB is currently exchanging hands at $0.000048.

Another coin on the trader’s list is decentralized finance (DeFi) payment network Terra, which Altcoin Sherpa says is poised to erupt to new record highs.

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“LUNA: Still a high time frame bullish [market structure], send to all-time highs.”

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Source: Altcoin Sherpa/Twitter

The fourth coin on the analyst’s radar is the blockchain-based game ecosystem The Sandbox (SAND). Altcoin Sherpa maps out two potential scenarios for SAND after the coin printed a bearish lower high structure.

“SAND: My plans are below. Let’s see where this goes. In general, I personally think a lower high just got printed, and we’re going to go lower. If a higher low comes, we will enter some consolidation, and then I’m guessing another push higher.”

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Source: Altcoin Sherpa/Twitter

The last coin is Theta Network (THETA), a peer-to-peer distribution platform for video content. According to Altcoin Sherpa, THETA can launch a massive rally once it takes out resistance at $9.61.

“THETA: When this moves it will be explosive. It’s been ranging for quite some time, and I think that this one usually has its own market cycle. I would not buy this as an active trade though.”

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Source: Altcoin Sherpa/Twitter

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