- A rundown of Cardano’s 2019 Achievement
- Cardano ADA Projections for the year 2020
The Cardano Foundation, the firm behind the ADA token recently shared the goals accomplished during the year 2019. This could influence the price action of ADA positively this year. The Cardano Foundation disclosed that the year 2019 was a “transformational” year for the non-profit organization as well as for the development of its native token ADA.
In the year 2019, the Foundation’s team increased to over 20 people across 12 countries including China, Canada, Japan, Germany, and Portugal. Hence, propelling the growth of the Cardano community to more than 1.1 million people globally. The chairperson at the Foundation, Nathan Kaiser, mentioned that the year 2019 was focused on getting the Foundation “back on the track” and working within a “robust sustainable framework.”
“We have looked at our legal affairs, tax, partnership, and administration. We have applied more than 100 control measures taken from more than 100 decisions in these areas and we have strengthened the Council with new appointments.”
Stating further, Kaiser added that some of the tremendous achievements of the year 2019 were the strategic partnerships that the Foundation achieved to broaden the use of it’s native token ADA.
The firm partnered with Konfidio, a Berlin-based blockchain venture studio, to boost Cardano’s use cases varying from “supply chain and logistics, IoT to identity management.”
Also, the partnership with COTI, an enterprise-grade fintech platform, was crucial for the launch of AdaPay. AdaPay is a payment solution that permits merchants to accept ADA and receive fiat on their bank account.
Cardano ADA Projections for the Year 2020
According to Kaiser, the year 2020 will pave the way for more prospects for the Foundation. It will accept more duties on the development of ADA. Also, it will concentrate on adoption in “key industries and real-world use cases in vital sectors.” As the Cardano Foundation prepares for a “very busy 2020,” ADA could be on the brink of a significant bullish trend.
Cardano ADA Technical Analysis
From a long-term projection, Cardano might likely begin a fresh uptrend. There is a high chance that a buy indication will be demonstrated next week in the form of a red nine candlestick on ADA’s 1-week chart. If approved, the bullish formation will signify that the ADA coin could increase for one – four weeks or start a new uptrend countdown.
Cardano (ADA) Price Today – ADA / USD
Also, the bullish impulse observed in the past few days propelled the Moving Averages (MA) to establish a golden cross on ADA’s 1-day chart. It is important to bear in mind that a spike in the selling pressure ADA could threaten the bullish outlook. If Cardano trades below $0.03, it could seek lower lows extending the bearish trend detected since late June 2019.