Cardano (ADA) is all set to enforce its mark in the smart contracts and Dapp development community. Recently, Charles Hoskinson of IOHK, who is also the founder of Cardano (ADA) mentioned in an interview that Cardano (ADA) will be bigger than Bitcoin (BTC) and Ethereum (ETH) in a year’s time. Cardano along with its South Korean partner, Metaps Plus seems eager to establish its foothold in Asian and African markets. Cardano Foundation, which looks after interests of the Cardano (ADA) Project, has been actively working in target markets to register Cardano and ADA trademarks. The Foundation believes that Cardano (ADA) will continue to exist at least for the next 50 years.
While Ethereum (ETH) was the only popular smart contracts platform in 2017, the landscape has changed completely in 2018 with the evolution of new projects that held their ICOs in 2017. Those projects, with Cardano (ADA) at their forefront have piqued curiosity of blockchain investors who are increasingly investing in smart contracts platforms. The other popular projects are EOS (EOS) and TRON (TRX) both of which are also in the top 10 list of cryptocurrencies, with Cardano (ADA) ranked at 7th place, EOS (EOS) at 5th place and Tron (TRX) at 10th place in terms of market cap. The growing interest in smart contracts platform has led many to believe that Coinbase might be listing these three cryptocurrencies during its next listing session. Coinbase seems to have changed its business model by focusing more on sophisticated investment vehicles rather than individual cyptocurrencies. However, the company did announce that it will be listing some cryptocurrencies in the near future. There is a high likelihood that Cardano (ADA), EOS (EOS) and Tron (TRX) will be the first ones to be listed. Given the recent pressure from its rival, Robinhood and investors increasingly threatening to leave Coinbase for Robinhood, Coinbase might be forced to make that announcement sooner rather than later.
Cardano (ADA) has continued to perform well both against USD and Bitcoin (BTC). The cryptocurrency seems to be trading in a well established bullish channel and is currently in a phase of consolidation as uncertainty prevails in the crypto markets. ADA/BTC chart shows that the price of Cardano (ADA) has once again reached the bottom of the channel presenting a good buy opportunity. On the ADA/USD chart, the price seems to be trading in an inverse falling wedge which seems poised for another run up in the near future. The support line seems to have hold strongly since the correction in Dec 2017. Previously achieved target of $1 seems to be a well defined psychological barrier which will result in significant profit taking. However, positive Bitcoin (BTC) impetus has the potential to push the price past $1 target by the end of the year. As long as Bitcoin(BTC) remains in a consolidation phase, Cardano (ADA) will likely trade in the lowest bullish channel of the pitchfork fractal for the next couple of weeks.