1. Cardano Blockchain Development Progress
It has been revealed that the decentralized storage solution Iagon is progressing with testnet preparations on Cardano. Additionally, Cardano community members are preparing a Catalyst proposal as part of the fundraising efforts for the project. Furthermore, the decentralized lending platform YAM4 is also moving forward with a testnet on Cardano, and the decentralized financial ecosystem ViFi Dual Farm and TapTools NFT Mint have already commenced.
2. Metaverse Virtua Project
Amidst the unsettling atmosphere caused by the SEC’s classification of Cardano as a security, Cardano is advancing decentralized milestones with the aim of enhancing security. Specifically, they are implementing initiatives such as allowing network participation by unregistered nodes, introducing peer sharing functionality, and focusing on governance efforts (Voltaire era). These efforts serve the dual purpose of strengthening security and promoting decentralization of the Cardano blockchain, with the intention of improving the system and countering the SEC.
3. ADA Market Analysis
The price of ADA is still in a slump, and there are no clear signs of an upward trend. At this point, we have yet to see an upward impulse and a corrective wave (wave 3) to indicate a clear upward outlook. Currently, it appears to be in a downward trajectory, which could potentially form a triangle pattern as part of Elliott Wave Theory’s wave 4. It is possible that wave C is still unfolding, and it would be more favorable if wave C experiences a slight upward movement. If this is indeed a triangle pattern, it should consist of five waves labeled A, B, C, D, and E, with a breakout expected on the opposite side of wave E. However, it is crucial for this triangle pattern not to surpass the high of wave A (below 29 cents), and even if it does, it does not guarantee an immediate upward trend.
Quoted URL
https://www.youtube.com/watch?v=4XzM7jg3RlY
https://www.youtube.com/watch?v=NyylEkues38
https://www.youtube.com/watch?v=5pyAAzjk72
