Two days ago, the Cardano team announce an ADA crypto debit card on twitter. The card is powered by Metaps, a financial technology company that aims to leverage new technologies to create new economic models. It is largely expected that this card will be pre-charged, and allow holders to easily spend ADA at their favorite stores. This is a big deal because it marks the first step towards mass adoption. That’s because, through a card, it is easy for the average person who is not so conversant with cryptos to adopt ADA, since it is a technology that they already understand.
This card is an extension of Cardano’s moves towards mass adoption, through ease of access. Just recently, they announced the launch of Yoroi wallet mainnet. The wallet is an extension of Google Chrome and will be available in multiple languages. It will also be integrated into hardware wallets. Essentially, it makes Cardano (ADA) easily accessible for anyone looking to spend their coins and do so on the go. With all these moves aimed at pushing for adoption, as well as the other technical aspects of the Cardano project, its value in the market will rise over time.
At the moment, the value of Cardano (ADA) in the market is not moving much, but this is largely related to market dynamics and has nothing to do with Cardano (ADA). Cardano, like the rest of the market, Cardano has been trading in tandem with bitcoin (BTC) and its performance has not been that good for the last 9 months. That’s why Cardano (ADA) like all altcoins has been sliding lower and is now trading at around $0.08. But things could be looking up for Cardano (ADA) this quarter, and going into 2019.
That’s because bitcoin (BTC) has stabilized above $6000 for the last couple of months. The $6000 – $6400 price level could be bitcoin’s reversal point, one at which it is likely to rally from, going into 2019. As bitcoin rises, it will push with it high-value altcoins that have beat up in price all through 2018. One altcoin that stands to rally is Cardano (ADA). Why Cardano (ADA)?
Since the beginning of the year, Cardano has made a host of advances that could see its value in the market rise by unprecedented levels. Through the year, Cardano has worked on Ouroboros, which is a major reap towards blockchain scalability and opens up the doors to industry adoption. Cardano has also worked on other major advances including quantum resistance, and soon Cardano holders will be able to stake their coins and earn a passive income off it. With such and many more advances that Cardano is working on at the moment, it has a good chance of making a major push in value once the market turns bullish, and probably rise above $1.
More short-term, Cardano is likely to underperform in the day. Market volumes are low, and Cardano has broken below $0.10 support to test a new low at $0.091. Currently, it has stabilized at around $0.0195. If market volumes remain depressed all through the day, Cardano will most likely touch the $0.091 low in the course of the day, and probably drop to $0.084.
