Cardano News Today – Here’s Why ADA’s 16% Rise Isn’t As Bullish As It Seems 

  • Cardano’s Deal With PwC Led to a Surge in the Price of the Cardano ADA Token 
  • The Partnership Between Cardano And PwC May Have Some Disadvantages

Cardano News Today – Ever since Cardano ADA sealed a deal with one of the big four professional services firms, PwC, it has been the talk of the cryptocurrency community. The excitement generated by that Cardano News led to a significant surge in the price of Cardano ADA as the token increased by more than 16% within one day. Days after that Cardano News, ADA maintained a bullish sentiment in the market dragging other altcoins along. However, Cardano analysts have warned investors not to get too excited about the recent bullish sentiment of the Cardano token and the partnership with PwC. Since the beginning of the year, ADA has increased significantly and it is now near the $0.60 level.

Cardano News Today – Cardano’s Deal With PwC Led to a Surge in the Price of the ADA Token

In our Cardano News on Monday, Cardano’s Charles Hoskinson announced that Cardano is now in partnership with PwC and the partnership will ensure that PwC uses the Cardano blockchain for its professional services. As expected, this ignited a bull run. PwC said that it decided to use the Cardano blockchain as part of its marketing strategy. A representative of the company said;

“The Cardano Foundation is working on a unification play, which will align the commercial products strategy between Emurgo, IOHK, and the Cardano Foundation together. And we’re using PwC as the moderator for that… They’re going to work with us to build a consolidated strategy for our go-to-market strategy.”

Cardano Latest Update – The Partnership Between Cardano And PwC May Have Some Disadvantages

While the price of Cardano ADA has surged significantly due to the partnership with PwC and other positive announcements by the Cardano Foundation, not everyone thinks this is a good thing. For starters, there has been a lot of power scandals surrounding the big four professional firms over the last few months. For this reason, traders are suggesting that the partnership may not be a good idea as it may stain the Cardano name and reduce the confidence people have in the blockchain firm.

Cardano (ADA) Price Today – ADA / USD

NamePrice
cardano
Cardano
$0.138

One of the scandals surrounding PwC that may be of particular concern to the Cardano community is that PwC stands for everything that blockchain technology is against. The primary purpose of blockchain technology is to ensure that people have full control over their data without giving centralized institutions power. PwC and other top firms don’t really care about the people. They are overly concerned about maintaining their monopoly and generating profit so they operate with impunity.

What does this say about the Cardano Foundation? Is PwC going to abuse the power of the Cardano blockchain now that it has partnered with Cardano? Only time will tell.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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