3 reasons Cardano (ADA) Is A Winner This Week Despite Price Decline
The market may be glowing red and the bearish trend may not be changing course any time soon. The top cryptocurrency Bitcoin is among those to feel the heat, and so is Cardano (ADA). Yet despite these biting price declines, Cardano is among a few coins to find positivity.
It would be fair to say that if the market recovers and bullishness returns, one of the platforms likely to be unstoppable will be Cardano. Though it’s among the hardest hit by the see-sawing prices, off-market continuity offers the community every reason to be optimistic- not merely for purposes of prices booming in the future, but also for belief in a project with a high chance to succeed.
Let’s look at 3 reasons that point to this being a winning week for this cryptocurrency.
Cardano to navigate the Virtual Reality Industry
It is all about to change for the better for Cardano and other blockchain users. The IOHK platform is set to develop a VR-enabled tool to help users experience, feel, and learn about blockchain technology.
The expected 3D tool will be designed to help users interact with the Distributed Ledger Technology (DLT) in a unique tangible environment. Even though VR is already popular in gaming and other sectors, it’s not been fully explored in crypto education.
IOHK is at the forefront of delivering this new tool, having been at the center of Symphony of Blockchains. On that project, IOHK collaborated with Kuva. Symphony of Blockchains is a “series of live and interactive artistic visualizations of the blockchain and cryptocurrencies.”
At the time of developing Symphony of Blockchains, Charles Hoskinson, the IOHK CEO, said that: “IOHK has a commitment to both education and design and this captivating and complex data visualization is the perfect combination of both. It’s beautiful as much as it is functional and our hope is that it will help make blockchain truly understandable for a whole new audience.”
Now that VR is coming to Cardano, it constitutes a win, considering that the project was planned to be ready this quarter.
Trading platform Cryptopia adds ADA to its platform
Getting listed on an Exchange is one of the things that constitute a virtual currency’s path to visibility, accessibility and eventually mass adoption. The Cardano team has been acclaimed to be one of the best in cryptocurrency. The platform is slowly gaining a lot of attention as projects begin to launch.
Cryptopia, a New Zealand-based exchange, recently announced that it would be adding ADA pairs to its trading site. Even though ADA is already listed on some of the biggest exchanges like Upbit, Binance, Huobi, and Bittrex, getting on Cryptopia provides a chance to get new users.
Trading on ADA pairs began on May 23, 2018, under three pairs- ADA/BTC, ADA/DOGE, and ADA/LTC.
As one of the leading sites in the region, Cryptopia adding Cardano opens up the possibility of more investors to buy and sell crypto.
With this step, IOHK, Cardano Foundation, and Emurgo can continue to build and develop the platform towards the release of Shelley later on in Q3.
The Cardano community
A community is one of the pillars that a crypto platform depends on, not only as investors but also for rallying support and driving the project towards global acceptance. The Cardano community has continuously been at the forefront in advocating for and educating new supporters. The community highlights issues from wallet use to updates and contributions to platform development.
Perhaps it’s out of this that the Cardano Foundation posted this message:
“Daedalus Support and our Help Center aren’t the only places to search for solutions to issues you may be facing. We are lucky to have a helpful and welcoming community that work together to help resolve your problems in our Forum”- Cardano Foundation
The ADA market has been one of the hardest hit, but the community still believes the crypto has what it takes to recover and climb up the ranking. In the last 24 hours, ADA/USD has climbed by 3% to trade at $0.201. If the community continues to have belief, the coin will have a future to look forward to.