🔥 IS ADA ABOUT TO EXPLODE? 🔥 CARDANO ADA ANALYSIS & UPDATE CRYPTO NEWS TODAY
If you do find it useful and informative hit that like button, i really do appreciate that, if you happen to be new to the channel, then why not go ahead and subscribe tap that bell select all notifications and in doing so you will be kept up to Date with absolutely everything that we do here at cheeky, crypto right lets kick things off guys by just obviously acknowledging that the smart contracts have now actually launched onto the main net. Many of you guys are already familiar with this. I have seen a lot of comments saying that, basically, after the news of smart contracts, we saw a massive pullback that was pretty much courtesy of the month of september, the self fulfilling prophecy that is expecting a pullback and then actually making it happen ourselves. Of course, as we go deeper than that, we also saw some fantastic partnerships announced at the cardano summit 2021 and ill get into more of those on at least in a moment, and the next thing i want to acknowledge is about those smart contracts, though, obviously with The smart contracts going live on the main net were going to see a flurry of new projects launching on the ecosystem. These are already being built in the background now with that smart contract functionality and its only a really a matter of a few weeks to maybe a month or so before. We actually start seeing a lot of these projects launching on the ecosystem and really going absolutely crazy and obviously, alongside with all those new projects, you do end up with a flurry as well of of projects that are already in existence operating on the ethereum main net.
Looking to migrate over to a cheaper, faster, more secure, blockchain environments such as cardano and ive been quite vocal about this in the past. Talking about how ethereum has got the sharks. Circling weve got cardano polkadot, algorand solana right a whole host of other cheapest, more secure, scalable solutions to ethereum and people, companies that are basically operating and people who are running their businesses on ethereum should be considering other alternatives to safeguard against those up and coming gas Fees that are on the rise steadily now so overall, i do anticipate a huge migration, and here we actually have some fantastic news. That came way back, i think, in march, where over a hundred companies are looking to shift from ethereum to the cardinal ecosystem, and i can bet you that guys that this is already in progress in the background so were going to start, seeing not only a flurry Of new projects that have been built for car dyno, but a whole host of projects and companies looking to migrate over from the ethereum ecosystem to the car dyno ecosystem. Now this is important not just because it means that theres going to be damps, built on the cardano ecosystem as a whole, but basically theres going to be an increase in transactional volume. We can also see that validators with cardano are on the rise getting closer and closer to the 1 million level and which is huge level of decentralization for a blockchain um such as cardano, so overall were going to see not only a huge spike in terms of Transactional volume, which basically means the aid, is going to also move in line with that transaction and weve got a huge amount of delegators loads of ada.
Actually, out of circulating supply being delegated so theres a squeeze on the supply and were going to start seeing a demand for ada to pay for those transactions right so were going to start, seeing not only a huge spike with uh with cardinals ada and but i Think actually, one thats going to represent a parabolic move later in the year. Everything is lining up quite nicely, so i have seen this one. This particular piece of news often gets forgotten about right, but there are, of course, a hundred companies that are looking to shift from the ethereum to um cardinal, and i think its going to be absolutely massive. Its going to compound the issue for the supply and demand that there currently is for ada and of course we can go a little bit further beyond this. Obviously, earlier in the year, we did see uh the ethiopian government partnering up with cardinal to provide five million students and teachers with digital ids on the cardinal ecosystem. Again, this is all about the transactional volume right. We dont say that this is a big deal. It is absolutely huge in terms of mass adoption and theres, been very few projects that have anywhere near this kind of level of adoption, and so basically, we have cardano now not only looking at actually running daps on the ecosystem, new and old um from brand new Built for cardano through from ethereum migrating to cardano, but we also have governmental contracts that basically see a mass adoption for the cardinal ecosystem as a whole.
Now this um plan uh for ethiopia, is supposed to roll out in the new year right. So again, this ties into something else im going to get into in a moment, but basically five million um students and teachers added to the cardano blockchain and again this is going to increase that transactional volume uh every time someone interacts with the ecosystem and again uh That is absolutely massive right. The fees for cardano are absolutely small, okay, so its not going to move the needle massively if theres, only a small amount of adoption. But what were seeing here is a mass adoption on the cardinal ecosystem as a whole and when we jump over to the next part, we can obviously see that cardinal announced a partnership with dish right boost mobile, and this happened just a couple of weeks ago. At the cardinals summit, this sees eight million um customers of dish. Uh actually get those digital id, those d, i d, so it dids right and so eight million. So we now have five million with ethiopia, eight million with dish right. That is a sum of 13 million people um operating on the cardinal ecosystem, again its a small uh. You know, i guess, drop in the ocean for the amount of people that are in the world, but this is a huge milestone that no other kind of um blockchain technology ecosystem has even come anywhere near right. So this is. This is pretty big deal and again this comes down to that transactional volume, a new partnership, new level of adoption, new transactional volume that helps build in to the evolution of ada overall right so again that squeeze on the supply that weve spoken about the amount of Delegators the amount of people who are actually setting up validators now closing or getting closer to that million level.
From a validator point of view, the amount of people delegating taking their supply of ada out of circulation and actually getting it delegated to earn a nice passive income long term as well, because its really important that we understand where we are today is actually super early. In the cardinal world, and obviously things are heating up, but imagine what were going to be like in five or even 10 years from now, uh people with long term vision are willing to actually hold ada for a long period of time are getting that delegated earning A nice passive income earning more ada on your ada holdings and theres, pretty much no risk associated with it. The only risk really when it comes to dedicating it, of course, the wallet that youre holding your cardano in okay, but actually from delegating point of view, you can withdraw your ada theres, no lock up periods and its um pretty much risk free, theres, no cost associated With it, youll only ever earn more ada, of course, just make sure that youre using a secure method to delegate so obviously with dish and a few other partnerships that were going on, we had chain link, obviously real world data on the chain. All of these things are, they think they seem small on their little uh in their little silos in their islands right, but together they make a collective hole which makes a huge impact on the entire ecosystem and, of course, the price action of ada as a whole And so, overall, very very good stuff going going on right, everything from uh working our way through all the different milestones and the eras within car, dyno, obviously getting into the smart contract era and basically building these decentralized applications on the cardinal ecosystem through to, of course, Migrating existing systems over from ethereum over into the cardinal ecosystem as well, which will have a huge impact, specifically, if were talking, big players like celsius, for example, migrating from ethereum over to the cardinal ecosystem.
They are one of the biggest players for the ethereum ecosystem playing millions upon millions of dollars in transactional volume and in eth every single day, so its important to be able to understand exactly what is going on with ethereum and actually what actually makes up the ethereum Ecosystem from a transactional point of view, and what also pays that or makes the the transactional and gas fees so high, and i can bet that celsius is a huge part of that. And so obviously, if celsius were to move and a whole host of other big players within the uh ethereum ecosystem to cardano, it would significantly change the dynamic both of the cardinal ecosystem, but also of the ethereum ecosystem. So obviously thats, just speculation of people have been speculating about um. You know the celsius application moving from ethereum to card dyno for quite some time, and i think it would make a lot of business sense to do so. So itll be interesting to see if that actually comes into fruition, but obviously, with all of this level of adoption for the cardone theres, something else that obviously absolutely has to happen, and that has to be your scalability, and here we obviously have the hydra solution. Ive spoken about this a few times, but this is basically um scalability that is baked into the cardano development roadmap, and this is hydra. Now. Hydra basically allows for one transaction uh, 1000 transactions per validator, okay and per second.
So when we start thinking about scalability – and we talk about, you know whether youre a thousand transactions per second as a blockchain provider or 35 transactions per uh per second per provider and with cardano here. The hydra solution aims to be that it will create 1 000 transactions per second per validator, as i said earlier in the video theres going to be close to a million validators right, so 1 million times 1 000. That is the level of scalability that youre looking to get from the cardinal ecosystem, the kind of scalability that is required if youre going to run governments on the blockchain okay. If you talk about running five million um, you know digital identifications, um for ethiopia or eight million over for dish in the us right in boost mobile, and that kind of level of adoption requires a huge transactional, throughput and obviously with that has to be the hydra Solution were looking forward to the prototype of hydra later this year and im hoping that cardinal is still on track to deliver that, and obviously this is a scalability solution or layer 2 solution for cardano that is absolutely critical in what they are trying to achieve, which Of course is mass adoption, but of course we can go a little bit further than just that as well and because also announced at the car dino summit was a um mobile wallet to basically rule them all, and this basically is a new cell phone application that Will be the first to simplify um interaction with blockchain technology, providing a single place where users can vote on the future of blockchain platform access, cryptocurrency transactions, non fundable tokens, those nfts and, of course, digital identifications, and this improves on the current model, where uh? Those wishing to get involved in blockchain will need to uh will need basically multiple wallets, depending on their features that they want to access, which can even vary depending on the size of transactions that they want to carry out.
This light wallet, if you will will also solve the issue of internet connectivity and by offering access to offline features such as the availability to check, balances and schedule payments. This uh widens access to blockchain by allowing people to interact with their assets, even in developing nations, where electricity and internet supplies can be intermittent, and so this particular trans or wallet, i should say, is going to really open up the scope of everything and also helps And aids, in, of course, that adoption that weve been talking about right, its great to have five million teachers and students get those digital ids over in ethiopia, 8 million digital ids with boost mobile over in the states, but again above and beyond. All of this, if you want to be able to have one wallet where you can actually encourage mass adoption ease of use, this seems to be what cardano are working on in the background as well. So overall everythings lining up quite nicely now obviously were talking about. Is there going to be a breakout for cardano and specifically the price action of ada? We have to consider all of this information order, this information and then go into our charts. Okay from our charts, we can then dive down and take a look overall whats been going on most recently and where we think things are likely to go next. Obviously we have got these five impulse waves that started back in march of 2020, okay and basically weve started to see a pretty good surge to the upside, most recently a bit stagnant, a sideways trade around here, specifically after we saw a bit of a pullback for The month of september again that self fulfilling prophecy, and once we get past september, which we have done, we started to see a bit of a push to the upside.
But we have also been kind of linked to what bitcoin is doing right now. And but i do anticipate in the next few weeks were going to get a huge surge to the upside once those projects start launching on the ecosystem that transactional volume starts building theres going to be very little to stop cardinals price action, and i do anticipate us Moving up to at least 7.22 and maybe even pushing for that 10 range, some of these data here is basically only really looking at speculation. We havent yet seen what that transactional volume is likely to do to this ecosystem. All we have to do is take a look at something like matic to understand what the power of transactional volume actually has on an ecosystem and overall weve seen matic do some absolutely crazy numbers once it started to get some serious level of adoption. Once this ethereum gas fees got too unmanageable for many businesses, so right now, car dyno is in a pretty good area, just above its 786 area on the chart, and we are looking to get some pretty good traction above that two foot dollars 15 heading up towards Our next levels, if i jump down into our daily and what i can do, is actually show you what those levels are. Okay, so, as we come down here, we can see that were just resting on our 2.15 support level. This is an area that weve been trading sideways for the last few days, just waiting biding our time, ready for that next move to the upside.
We can see that the first target comes in at 3.37. Our cup and handle um target is 4.45 and our 2.618 comes in at 4.85. The 3.618 is a 6.32 6.32 and our 4.236 extension comes in at 7.22. Okay, so overall, everythings looking pretty good from a cup and handle perspective. Looking for a good surge to the upside 4.45 is that target and again we could even over extend towards that 10 range once that transactional volume starts, hitting the ecosystem as a whole. Im incredibly bullish on cardano and im definitely not selling my ada at a discounted rate, guys im gon na leave the video there, but hopefully you have found this useful, insightful and informative in some way.