what edward snowden just revealed about cardano ada and why we must be alert in 2013 to the humiliation of the us government edward snowden broke america's laws of secrecy in dramatic fashion opening metaphorical tons of the nsa's classified documents to the public snowden believed that the world's people shouldn't be supervised continually finding it logical to break the ice on the nsa's most cage initiatives and as such snowden has cemented himself as someone that is near and dear to the hearts of die-hard non-traditionalists anarcho-capitalists and extremist libertarians worldwide a majority of which are advocates for blockchain and decentralized crypto assets so it should come as no surprise that snowden himself is a fan of blockchain technologies in crypto today we're going to talk all about what edward snowden just revealed about cardano ada and why we must be alert so watch this video till the end because today's video is going to be very interesting donno lovers welcome to cardanoland your daily dose of cardano if you're interested in everything around cardano this is the place for you make sure to hit the like button and subscribe for us to provide you with more cardano news don't forget to enable all notifications to join our weekly cash giveaway pinned in the comments before we get to our topic let's take a look at the chart and see what the price of ada is doing on the 1st of august shall we ada usd traded in a range of 1.26 dollars to 1.32 indicating mild volatility over the last 24 hours meanwhile the total trading volume has decreased by 6 percent and totals 1.52 billion dollars the total market capitalization trades around 40.5 billion dollars resulting in a market rank of fifth place ada usd is currently trading at 1.31 dollars as the bears delay the coin from crossing above the upper boundary of the channel a few days ago the cardano price encountered higher resistance at 1.40 and fell down ada is up 0.5 percent in the past 24 hours and it currently trades along an ascending trend line with resistance at the 50 sma 1.32 notably bulls have struggled to breach the supply wall for the last three days concerning the emas the ada coin is wobbling between the 50 100 ema and 20 ema creating a small range for the price however recently the chart has shown a bearish crossover of the 50 and 100 which attracts even more sellers in the market the ada token showcased an attempt to break down from the tilted head and shoulder pattern in the four hour time frame thus if the price manages to sustain below the neckline of this pattern the ada traders can grab an excellent short opportunity in this coin from a technical perspective the overall sentiment of the ada token is still bearish and as mentioned above the price shows promising signs of price reversing from the 1.3 resistance with a head and shoulder pattern if the price manages a successful breakup from the pattern it could provide an excellent long trade for aida traders till the 1.5 mark now let's get back to the topic for those who haven't heard about edward snowden here's a quick rundown he was bold enough to reveal state-level confidential data in 2013.

As a former national security agency nsa and central intelligence agency cia employee he exposed the existence of several american and british mass surveillance programs he was judged for treason and several other crimes but edward snowden cunningly moved to russia where he obtained residence rights through asylum and has lived there ever since with his scandalous revelations edward snowden was able to raise the interest of the general public and build a strong community standing behind and the best of all snowden himself is a fan of blockchain technologies in cryptocurrencies like bitcoin cardano v chain and other meme coins the cardano platform is centered around a proof-of-stake protocol unlike some of its predecessors such as bitcoin which are based on proof of work protocols and that may be the reason why many strategists like edward snowden love it the proof of stake protocol is conceptually designed to mine blockchain transactions which means the more coins you hold the more mining power you own expert crypto analysts speculate that cardano will reach ten dollars in 2021.

The coin's value was up by 4200 in the last year making it the fourth largest cryptocurrency with a market capitalization of over 33.69 billion dollars a top portfolio strategist from the 244 billion dollar asset management giant morningstar says that cardano ada could become one of the big three mainstream cryptocurrencies in a report from business insider morningstar's crypto focused strategist amy arnott says that investors looking to get into digital assets want to avoid stomach-wrenching volatility so cardano may be the way to go to draw a brief conclusion edward snowden has a rather optimistic opinion on cryptocurrency as a phenomenon however he thinks that bitcoin should make every effort to develop if its creators want to call their brainchild a global benchmark according to snowden other cryptocurrencies which appear to be more suitable for payment solutions because of transparency security and transaction speed like cardano ada and xrp can experience a substantial boom in the next few years cardano ada launches connector for dap's integration cardano ada continues to move further in its smart contracts integration on its blockchain cardano announced about a week ago that it had successfully completed the long-awaited alonzo white hard fork and with this the project was moving on to the next phase of the integration smart contracts on the cardano network will allow developers to build decentralized finance defy nfts decentralized identity did and countless other things on the network this is why the move to smart contract support is very important for the network continuing on down this road cardano has now launched a connector for dap's integration on the network using its euro wallet that's a big news euro wallet comes from the commercial arm and solutions provider of the cardano ecosystem known as emergo the beta version of the connector was announced four months ago via a press release on the emergo website this was in an effort to make a way for cardano ada and ergo erg users to be able to make dap transactions on the blockchain with no problems the connector will increase adoption worldwide on the network bringing more and more people into the decentralized global operating system that was made for a user base that spans around the globe cardano is a good durable asset crypto analysts project that cardano ada could reach 2.4 dollars by the end of the year 2021.

It is suggested that the price of ada could fall below 1.5 dollars in the next few years if all this holds now is the best time to add ada to your crypto wallet if you have done so it would not be a bad idea to increase your stake in this dynamic digital currency cardano is a great example of a developing project to consider if you want to invest in crypto for the long run ada is a healthy and expanding group it is generally steady in its current range of one dollar and 1.3 dollars as a result analysts predict that if the currency achieves a new price point it is unlikely to decrease and will instead continue to rise in line with the market cardano's team is strong and that's what appeals to the investors in strategic thinkers like edward snowden but there's only one thing that concerns snowden and it boils down to that the cryptocurrencies like bitcoin and other blockchains should design competing systems and mechanisms to tackle the challenge of threat to privacy by powerful agencies governments and authoritarian regimes that boast powerful surveillance techniques edward snowden also said that the only sustainable way out is to design competing systems that tackle all the shortcomings of the present systems and at the same time attract the global consumer base one of the special things about cardano is that its development process is peer-reviewed engineers and academic experts specializing in blockchain technology and cryptography are instrumental in building cardano the peer review process does mean that cardano is the type of cryptocurrency with slow and steady developments not one that makes rapid changes the advantage of cardano's approach is that peer review catches security issues as explained by edward snowden that could otherwise lead to more serious problems later well that's it for today's video guys also we would like to mention that this is not a channel intended specifically to provide financial advice and we do not ask you to invest in any company this is merely a channel directed towards bringing educational content to your doorsteps with that in mind before you invest in anything we recommend you do thorough wide spectrum research on the topic and make sure to subscribe and give us a thumbs up see you next time on cardanoland

You May Also Like