Cardano (ADA) Growth is Inevitable

Cardano (ADA) has reacted well to the latest Bitcoin bull run, going on a run of its own as well. Starting the month of July at $0.134 the coin has been on a perpetual rise, going all the way up to $0.166 before consolidating at around $0.160. Cardano is currently traded at $0.159838 USD which is an 8.54% rise during the last 24 hours. With $4.15 billion to its market cap, the coin will be looking to retain its 7th spot on the coinmarketcap’s list of most valuable cryptocurrencies.

ADA is up more than 23% during the past week which makes it the biggest gainer among top 10 coins. ADA/USD will be looking to maintain the positive trend upwards, with a key support line sitting at the previous resistance of $0.145.


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In FA-related news, Charles Hoskinson, the creator of Cardano and IOHK (the foundation in charge of ADA), has been making the rounds as of lately. Just like we recently reported, the alleged partnership with Tron will not be discussed between the two teams, even though Hoskinson offered Justin Sun to use a piece of Cardano’s codebase for his own project. Hoskinson, in his recent tweet, wrote:

“Ok- final final- housekeeping piece of info. There is no partnership or collaboration with Tron. There is no endorsement of Tron. I just recommended to Justin to use Mantis as EthereumJ isn’t a solid or safe codebase to work with and they are building on the JVM.”

Hoskinson also complained recently how his project isn’t getting enough media attention. Well, it is sure getting it now as Hoskinson and IOHK’s director of engineering Duncan Coutts were recently invited to Google’s London headquarters to speak about the Cardano project and the Ouroboros protocol.

A transcript of the visit was released soon after, showing exactly what was discussed during their visit. Hoskinson, among other things, explained the utility and liquidity that cryptocurrencies could potentially introduce to our everyday lives:

“So I can walk over to Starbucks, and I can have my house tokenized, and I can sell it. There’s a market maker that lives in between that, and I sell one-millionth of my home and I can buy that cup of coffee, somebody bought that from me and the merchant gets paid in dollars or pounds.”

While this recent invitation may suggest that Google is trying to learn more about Cardano and cryptocurrencies in general, there haven’t been any further indications that a potential partnership between the two enterprises could be formed in the future.

In other news, Cardano has been recently listed on CoinRoom, a Korean crypto exchange, and will be traded against the Korean Won for the first time ever. Facilitated by EMURGO, an IOHK sister company that has been put in charge of integrating real-world businesses with Cardano, this listing should ensure an additional influx of liquidity into ADA markets which could lead to some more future price gains.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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