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The price of ADA is pretty healthy. More upside is expected with a promising rally. Those investors who shake for every dip might not be happy with the price trend of ADA being a bit choppy. ADA is now touching new ATH, and the trends are impressive.
If people are buying in the dips and selling high all the way, they tend to make more money than someone who has been holding it all the way. Some analysts have to state ADA will never be more than a $3 or $4 little token. Others opine that this is just the beginning for Cardano and that it is cheap right now. Some believe the price will go high when listed in Japan because ADA has security and scalability, and the fundamentals come first.
Meanwhile, Charles Hoskinson, in his recent video, stated, “They are marching towards Alonzo’s launch. So things are looking solid towards September 12, 2021.”
He pointed to how frequently some are saying they need to burn tokens pointing to how the supply of Cardano is too high. Charles stated that the idiocy is astounding and therefore felt it is time to demonstrate smart contracting capabilities. At the same time, he stated, “I can do this myself or with the team, as it is going to be a fun community exercise.” He pointed to a paper and proceeded further with these explanations.
He also stated, “After Alonzo, who volunteers to create the first burn DApp so we can share it with all the pro burn crowd?”
The community was like: Cardano does not need a burn DApp to become successful. Some were like, why create so many tokens in the first place if you are going to burn them?
The only people who want a burn function on ADA are people who view it as a speculative investment/get-rich-quick-scheme. That’s not what ADA is supposed to be. It’s supposed to level the playing field for those who don’t have access to things we take for granted.
I imagine an overwhelming majority of the people who benefit from DeFi are those who live in first-world countries who already have access to banking systems. On the other hand, Cardano wants to bank the unbanked.
We only burn trash. So we will have to create another token called BADA. Once they swap, it’s a done deal. ADA is too precious to be thrown on a dumpster fire.
