Cardano News Today – Cardano Gets Contract to Create Platform for U.S. Elections But ADA Corrects Lower Against the USD – July 9th, 2020

  • Cardano to Create Blockchain-Based Platform to Produce Tokens for Brock Pierce and Kanye West During the Next U.S Election 
  • Cardano ADA Starts Correcting Lower After Major Bull Rally Takes the Token Above $0.1350

Cardano News Today – After the Cardano Shelley code was updated on the mainnet, the Cardano Foundation hosted a virtual summit to discuss the future of the blockchain and provide answers to questions from members of the community. Charles Hoskinson, the founder of Cardano ADA, was the host of the virtual summit and he was the one who answered these questions. It was during this question and answer that Hoskinson talked about Cardano’s plans to create cryptocurrencies for Kanye West and Brock Pierce. The tokens will be called Pierce Coin and Kanye Coin.

Cardano News Today – Cardano to Make Kanye Coin and Pierce Coin for Presidential Campaign

The Kanye Coin and Brock Coin will be used during the upcoming presidential campaign. Both public figures have expressed their desires to summit a presidential bid. The Kanye Coin, which will be made on the Cardano blockchain, will be circulated to voters. The electorate will get one token for every vote Kanye receives during the election. The same thing will apply to Pierce Coin Hoskinson said that it will be good for members of the cryptocurrency community who love to collect unique tokens. The standards for multiple assets will be issued by Cardano in the next 120 days.

Cardano (ADA) Price Today – ADA / USD


Apart from creating the Kanye and Pierce Coin, Hoskinson said that Cardano is creating a blockchain oracle that will be used to transfer election results from the traditional channel to the Cardano blockchain. This oracle will go live a day before the election starts. Everyone knows that a blockchain-based platform will change how elections work by making the process more efficient as well as tamper-proof.

Cardano ADA Starts Correcting Lower After Major Bull Rally Takes the Token Above $0.1350

In other news, the Cardano ADA token has started correcting lower following the upward surge in price. At the time of writing, the price of the token was $0.123218. It is down by 3.91% against the USD and down 4.73% against Bitcoin BTC. The trading volume over a 24 hour period is $730,645,036 and the market capitalization is $3,194,674,451. The token surged as high as $0.1350 this morning before it started moving lower. However, the bulls aren’t done yet and the token will most likely resume the upward surge against the USD near-term. The next few days of trading will determine what direction ADA will take. Even if the token drops lower, there is still going to be strong resistance at $0.1000 so Cardano is unlikely fall below this level.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.


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