Cardano (ADA) is still far behind on its main competition

Cardano has been on his way quite late. In July it changed a bit and reached a monthly high of $ 0.1902 / 2539 satoshi when the news cycle was greeted with the information that Cardano is considered a possible addition to the Coinbase infrastructure (both the trading and the custody service). It has been a strong run ever since, as the alt struck a monthly low of $ 0.14 / 1857 satoshi on July 31 st . The first half of August was also rather negative for the price action, because we saw the currency dropping all the way to $ 0.0869 / 1456 satoshi on 14 August .

ADA has managed to lower something bounce since that and is timidly tagging in the latest recovery / bullrun / bulltrap that the market is currently experiencing. The price action was somewhat positive and the currency seems ready for an outbreak in the short term. There has been a slight recovery from the lows in August and an ADA is currently rated as $ 0.103159 USD (increase of 4.98% over the last 24 hours) / 1692 satoshi (increase of 3.89% in the last 24 hours ). It has one of the better trading volumes at 13,568 BTC, the majority of which comes from Upbit (31%) and Binance (49%). With a market capitalization of $ 2,774,619,328, ADA is currently the 9 e most valuable cryptocurrency on the market.

For the daily dose of Cardano TA we went to InvestingScope for TradingView:

"TP1 = 0.099141 (low December 2017, low), while Cardano methodically followed the curve-form at 4H ( RSI = 45,508) to a 0.8355 bottom We now see this pattern reversing as implied by the rising curve towards a critical level that is 0.1157. That is our break-out point for the short-term trend setting, because it is the Lower High on the smaller Channel Down on 1D If the larger 1D channel breaks down (MACD = -0.013, High / Low = -0.0097, B / BP = -0.0281), a Lower High should be slightly above 0.1445 and then resume the downtrend. In both cases our T2 = 0.078501 (08 Dec, 30 Nov. 2017) remains intact and in circumstances (if ADAUSD is rejected within the smaller Channel Down, that is 0.059995). " View the official account of the merchant and this full post for further updates.

The project and its development team work to deliver the final product, which seems to be removed for some time to be ready. Charles Hoskinson recently revealed that at the moment the last polishing is being done on the Icarus / Yoroi wallet projects.

And only a few days later, Icarus was launched, with IOHK (the company in charge of its development / Cardano) publishing a blog post that confirmed the release. Icarus is a reference implementation for a lightweight portfolio whose development started with a series of concepts in March. Some of the IOHK team decided to explore the possibility of creating a lightweight wallet that would have all the features of Daedalus, but would be quick, easy to install and would take up little space (so compatible with mobile devices) ). [19659007] 🏆 Read Coinbase and Bitstamp – mutual comparison.

The wallet was almost ready in late June, with the code base quality tested by Allied Testing and controlled by Kudelski Security. In July, the Emurgo team was included in the wallet test / final adjustment. And as a result, the code base Icarus was released on GitHub, allowing developers to make their own wallets. Emurgo immediately confirmed the quality of the codebase by confirming that their own implementation of the Icarus wallet, called Yoroi is coming out at the end of September.

The project also published a weekly technical report on the 16 e of August, according to their usual practice. The highlights include a number of important things:

  • Daedalus V1 Cardano wallet API is integrated, with most of the work being done
  • Cardano 1.3.1 / Daedalus 0.11.1 release is under preparation, with the latest improvements being made [19659013] Work on proof of concept 1 for the App platform, aimed at permissions UI and sandbox app status based on user permissions
  • Work on wallet backend development
  • Work on the proposals for the design of the communication protocol
  • IELE testnet improvements after the release
  • Byron testnet pre-release preparations

As always the project was sprinkled here and there with a few public appearances, looking to introduce more people to the Cardano idea. We saw them visit Port Harcourt in Nigeria and Warsaw and Krakow in Poland. Charles Hoskinson was also very & # 39; public & # 39; because he had a surprise AMA on the 10th e of August, where he dealt with some questions regarding the Cardano project. The questions included those related to the aforementioned lightweight wallet, integration of Ledger, the use cases of Cardano, IOHK financing, slowness of development, his "beef" with Vitalik and many others. You can view the complete AMA here (with timestamps provided) if you want to know more. Some time later Hoskinson attended the Blockchain Futurist Conference in Toronto, where he sat down with a number of other keynote speakers and talked about the influence and acceptance of blockchain technology with none other than Larry King.

With the most attention paid to the ETC Coinbase list, IOHK still managed to do a lot of work on Cardano. The fact that they are far behind Ethereum, EOS, Tezos, Stellar and other similar projects in terms of having a real work platform nevertheless hurts their price and their acceptance. Thanks to this assessment Cardostat, the crypto-research wing of the Chinese government, Cardano as the 14th best 1945 (19459003) cryptocurrency in the 4 e round of its public blockchain ranking index. As things stand now, there is a lot of work for Cardano; you wonder how long the market will wait until they are ready.

The authors and guest post authors of CaptainAltcoin may or may not have a vested interest in the projects and companies mentioned. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner.

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