Carnado

Cardano co-founder Charles Hoskinson has fired back in response to a report by crypto research firm K33 Research that questioned the utility of Cardano’s native token, ADA.
In a bold retort earlier this week, the founder of Cardano downplayed the credibility of the research firm, setting the stage for a contentious debate within the cryptocurrency community.

Published on Monday, the report, titled “Why you should sell all your ADA (Cardano)”, contended that ADA lacks meaningful use and value. Notably, a smart contract network’s native token needs substantial use to hold any value. The firm, however, argued that ADA lacks such utility, adding that there was no credible path toward achieving it. The firm also highlighted the absence of proof of ADA’s utilization beyond exchange transfers and alleged artificial activity by holders.
One of the critical points in the report revolved around the stablecoin market on Cardano. While other networks thrive with stablecoins like USDT or USDC dominating DeFi altcoin investing, the firm argued that Cardano is lagging. It pointed out the limited presence of Cardano-collateralized stablecoins valued below one dollar, signalling the network’s lack of meaningful decentralized finance (DeFi) activity.
The firm further predicted a bleak future for Cardano akin to past blockchain projects such as IOTA, NEO, and EOS. The firm argued that successful blockchains must grow organically from real use rather than being propelled by inflated hype and subsidized bootstrapping.
“Cardano has an enticing story for newcomers, with Cardano being branded as “the peer-reviewed research-driven blockchain network…still, all price signals also point to Ada gradually disappearing from the crypto map. ADA has not rallied in line with other ‘stronger’ smart contract tokens when markets have improved, which is a strong indicator of a dying coin,”
the firm stated. Meanwhile, in a dismissive response to the criticism, Charles Hoskinson questioned the identity of K33 Research, expressing ignorance with a straightforward, “Who? Never heard of them.”
Hoskinson’s reaction resonated within the ADA community, with some criticizing K33 Research for what they perceived as a targeted attack on the network. Particularly, “ADA Whale”, a prominent ADA commentator, voiced skepticism over the report, stating, “FYI: this is not how a serious research paper reads or looks like.” He went on to invite the firm’s researchers, urging them to examine what he described as “a fact-based thread on Cardano” that he shared last week.
Notably, this recent critique is not the first time Cardano has faced skepticism. Hoskinson has previously defended the network from claims that it is a “ghost chain”, lacks a working product, and is too decentralized. Nevertheless, despite these challenges, Cardano stands resilient and is currently the eighth-largest cryptocurrency with a market capitalization of $17.9 billion. Moreover, it maintains its status as the second-largest crypto asset by staking market capitalization, underscoring its continued relevance in cryptocurrency. #carnado

#ada #carnado #ADABullish #ADA.智能策略库🥇🥇 $ADA
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Cardano (ADA) Faces Challenges: Struggles to Regain Previous Levels
Cardano's price has recently declined below the $0.9550 mark. ADA is currently in a consolidation phase and may find it challenging to initiate a new upward trend above the $1.00 threshold.
ADA price experienced a fresh downturn from the $1.0350 zone.
The cryptocurrency is trading close to $0.950, aligned with the 100-hourly simple moving average.
An upward break occurred above a short-term bearish trend line, with resistance seen at $0.9560 on the ADA/USD hourly chart (data sourced from Kraken).
The pair could potentially begin another upward movement if it surpasses the $1.00 resistance zone.
Cardano Price Attempts Recovery
Following its struggle to maintain a position above the $1.00 level, Cardano, similar to Bitcoin and Ethereum, embarked on a new decline. ADA's value dropped below the $0.9550 and $0.9500 support thresholds.
The price even dipped below $0.900, forming a low at $0.8769, and is now attempting a recovery. An upward movement was observed past the $0.9150 level, clearing the 23.6% Fib retracement level from the $1.0354 swing high to the $0.8769 low.
The hourly chart of the ADA/USD pair showed a break above a short-term bearish trend line, with resistance around $0.9560. Currently, Cardano is trading under $0.9650 and the 100-hourly simple moving average.
On the upside, ADA might encounter resistance near the $0.9550 zone, which aligns with the 50% Fib retracement level of the decline from the $1.0354 swing high to the $0.8769 low. The initial resistance stands at approximately $0.9750, with the next significant resistance at $1.00.
Cardano Price Outlook
A successful close above the $1.00 resistance could trigger a robust rally, potentially driving the price toward the $1.050 region. Further gains might lead to a move toward $1.120 in the near term.
Potential Further Decline?
Should Cardano fail to break past the $0.9550 resistance level, it may experience another decline. Immediate support is positioned near $0.9320.
The subsequent major support is around $0.9150. A breach below this level could pave the way for a test of $0.900, with additional support near $0.880, where bullish activity might intensify.
Technical Indicators
Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is currently above the 50 level.
Major Support Levels – $0.9150 and $0.9000.
Major Resistance Levels – $0.9750 and $1.0000.

Cardano (ADA) is displaying a bullish signal, aiming for a price target of $0.68. In the broader digital currency landscape, many altcoins are rebounding from recent losses.
Cardano (ADA) is following suit, experiencing a 6% surge in the past 24 hours, reaching $0.513. With this momentum, the coin has recovered all losses for the week and is now up by 4.18%.

Cardano’s Bullish Potential: Analyst Predicts 32% Surge
Top market analyst Ali Martinez has highlighted Cardano’s bullish outlook, noting the formation of a Descending Triangle setup on its daily chart. This pattern suggests further uptrends for Cardano. According to Martinez, if Cardano manages to sustain its current bullish momentum and closes above the $0.53 level, the coin could embark on a parabolic journey with a potential 32% surge.
Martinez’s estimate suggests that this rally could propel Cardano’s price as high as $0.68. Notably, Cardano has not revisited the resistance point at $0.6 since January 11 of this year. This indicates that the $0.6 level holds significance, and breaching it could signal a more ambitious rally ahead.

Cardano’s Strong Fundamentals Support Growth
Cardano stands out among protocols due to its robust ecosystem fundamentals, providing a solid foundation for its projected growth. Investors in Cardano can rely on the real-world applications of various blockchain solutions, making it an attractive investment option.
One notable innovation from Cardano’s parent company, Input Output Global (IOG), is the Cardano Light Wallet Lace. This wallet allows users to store their assets and conduct transactions, providing Cardano users with the same benefits as any other Web3-based wallet.
Cardano is an advanced blockchain with a dedicated community of developers continually working to ensure consistent upgrades and innovations. This commitment to development ensures that Cardano remains at the forefront of blockchain technology.
With its strong fundamentals and ongoing innovations, Cardano has the potential to support significant future growth. The current uptrend in its value may just be the beginning of a larger trend towards success.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ada #carnado

Cardano (ADA) has experienced fluctuating performance within the cryptocurrency market, frequently alternating its position among the top 10 digital currencies by market capitalization. This volatility is compounded by a mix of skepticism among holders and a rapid pace of innovation from its development team. Currently, the price trends suggest that Cardano's anticipated "Uptober" rally has yet to commence.
### Historical Context and Current Performance
According to data from Cryptorank, Cardano's price has declined by more than 5.7% so far this October. This downturn deviates from the historical performance of the cryptocurrency, as October is typically seen as a positive month for many altcoins. Notably, Cardano has encountered more down periods than upswings during this month in previous years.
Historically, over the last eight Octobers since 2017, Cardano has concluded four of those months in negative territory, achieving only three positive closes. In contrast, last year marked a notable exception, with Cardano ending the month up 15.4%. To replicate such bullish performance this year, the cryptocurrency must demonstrate significant upward movement.
As of the latest update, Cardano's price stands at $0.3538, reflecting a decrease of 2.3% in the last 24 hours. The cryptocurrency is still grappling to regain a position within the top 10, with only a modest 2.22% increase over the past week serving as its primary point of support. This ongoing trend highlights the challenge Cardano faces in overcoming its historical performance to inspire renewed investor confidence.
### Beyond Price Trends
While investor sentiment is heavily concentrated on price fluctuations, Cardano's founder, Charles Hoskinson, emphasizes innovation as a key focus. He believes that by enhancing technologies that distinguish Cardano in the competitive landscape, the project's long-term objectives can be achieved.
In addition to the successful launch of the Chang hard fork last month, which ushered in the Voltaire Era, Cardano has a series of new upgrades on the horizon. One significant enhancement mentioned by Hoskinson aims to improve the network’s responsiveness to user queries within its smart contracts.
As October progresses, Cardano's price has yet to gain momentum akin to that of its peers, leaving many in the cryptocurrency community awaiting signs of a turnaround. The interplay between ongoing innovation and market sentiment will be crucial in determining Cardano’s future trajectory as it strives to regain its former prominence.