Home Altcoins News Positive Sentiment for Cardano (ADA) with $1 Psychological Support Due to Institutions

Positive Sentiment for Cardano (ADA) with $1 Psychological Support Due to Institutions

Positive Sentiment for Cardano (ADA) with $1 Psychological Support Due to Institutions
  • 99% ADA of total on-chain volume transacted
  • Positive sentiment for ADA
  • Write Some Constitution for Decentralization Technology
  • Fortune 500 Companies Pursued by Cardano

Cardano (ADA) blockchain has lot of institutions building their projects on the blockchain.   Reportedly, a total of 69.09 billion ADA, 99% of the total on-chain volume, were transacted on Mar. 28, 2022.  This kind of on-chain activity points to institutional demand.   Further buying pressure is expected to push Cardano to $2.

Positive sentiment has picked up in favor of ADA and the psychological $1 support is trending.  Institutional interest in Cardano is happening after ADA reclaimed the $1 as support.

Taking at the Binance Blockchain Week in Dubai, 2022 – Hoskinson spoke about the importance of decentralization and the kind of integrity which will be required to decentralization.  He pointed to the probability of being decentralized by sustaining integrity or to lose the process to centralization.

Charles Hoskinson: “If we’re truly decentralized, we have to somehow come together and figure this out. We have to write some sort of constitution for these things; we have to decide ‘What is the Bill of Rights for the use of cryptocurrency and blockchain technology?”

He stated, ““There are two paths before us — one, we keep our integrity and we look to decentralization, find these things, understand these things,” he said. “Or, two, we ignore it. In which case we’ll have custodians, we’ll have escort keys, highly centralized, highly optimized consensus algorithms that can be reset at any time. The few will be in control of the many.”

Charles Hoskinson previously pointed to how Fortune 500 companies are looking to expand in developing economies like Africa and in the Middle East.  These countries are looking for economic and fast payment systems. He expressed that Cardano would pursue Fortune 500 companies to sell ADA as the solution to fast payment system requirements.

In Early 2021, Charles expressed that Fortune 500 companies will need newer tools to get in to the market and to work with consumers. Hoskinson expressed confidence stating, “We can facilitate that because we have been in those jurisdictions, especially in Ethiopia for over 3 years.”

Cardano hailed to be the potential Ethereum killer switched to Proof of Stakes. And, developing economies have been a part of Cardano’s strategy.

When asked:  How do you attract the Fortune 500? Hoskinson, then replied, “You do it by saying, hey would you like access to the 100 million customers on my platform who now have money and would like to consume your products?”

For those who are new, Cardano is an open platform that seeks to provide economic identity to the billions who lack it by providing decentralized applications to manage identity, value and governance.

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Maheen Hernandez

A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5

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