With the Alonzo upgrade scheduled for next month, Cardano is in an exciting yet critical transition phase, on the edge of becoming a smart contract compatible blockchain.
By early September, the “Ethereum killer” will most likely have smart contract capabilities. Cardano would be more compatible with Dapps as a result of this integration.
The Cardano Foundation’s short- and long-term ambitions are discussed by CEO Frederik Gregaard.
Over the next year and a half, the company intends to onboard 50 banks with the utility token ADA, which allows you to operate on our blockchain.The objectives for the next few years until 2024 include expanding user activity on the blockchain.
In addition, the Cardano Foundation intends to get at least three Fortune 500 companies into its ecosystem. Apart from informing them about the advantages of blockchain, By 2026, the number of Fortune 500 firms holding and employing the ADA token should have increased to at least ten.
Also The Cardano Foundation hopes that by 2026, the entire blockchain will be self-sustaining and run by its users.The ambitious goal is for the Cardano blockchain to have at least one billion users, allowing it to serve at least one full nation.
The Cardano Foundation has devised a two-tier strategy to achieve these lofty objectives. This includes increasing demand for blockchain and ADA, as well as ensuring decentralisation.
Cardano price Analysis
Cardano has gained 8.8% in the last week, but 0.93% down in the last 24 hours. Altcoin was trading for $1.43 at the time of publication. The $1.48 resistance threshold was not tested by ADA.
The parabolic SAR warned of a further price decline. Bearish signs were noticed occasionally in between certain bullish signals on the Awesome Oscillator, which was producing conflicting readings.
The upswing has been stopped at $1.42 at first, but a recent breach above this critical level might refocus bulls on the uptrend toward $1.72.