Recently, popular pseudo-anonymous analyst and trader “Crypto Capo” (“@CryptoCapo_” on Twitter) offered his super bullish medium and long term predictions for Cardano ($ADA).
His technical analysis of Cardano’s price action suggests that Cardano could reach $3-$4 in the medium term and $30 in the long term.
Data from tradingView says that, on crypto exchange Kraken, Cardano’s $ADA, which started the year at $0.1816, is currently (as of 08:15 UTC on April 9) trading at $1.2105, which means that ADA-USD is down 0.1814% in the past 24-hur period, but up 566.20% in the year-to-date period.
Earlier this month, the Orion Protocol ($ORN) team announced a partnership with IOHK to “become the first liquidity aggregator to the Cardano blockchain,” saying that the two plan to “work together to enable the scalability and sustainability of the DeFi and NFT spaces.”
Orion Protocol, which is chain-agnostic, says that it will “provide a decentralized gateway to the entire digital asset market – aggregating liquidity across decentralized and centralized crypto exchanges and swap platforms in one, decentralized platform.”
As for why it had chosen to build on top of Cardano’s infrastructure, its blog post had this to say:
“Cardano’s multi layer protocol performs advanced functions, and has at its foundation a settlement layer that is elegantly linked to a control layer. The settlement layer will have a unit of account, while the control layer will run smart contracts. The control layer will be programmed to recognize identity, assisting compliance and allowing blacklisting for instance...
“Integrating Cardano blockchain’s infrastructure will play a significant role in enabling far greater interoperability, scalability, and performance of the protocol and each solution – from flagship product Orion Terminal to Orion NFT Aggregator.“
Alexey Koloskov, CEO and Co-Founder of Orion Protocol, had this to say:
“It’s a huge honor to partner with IOHK to become the first liquidity aggregator to the Cardano blockchain. We admire and share their focus on building a scalable, and interoperable DeFi ecosystem, and we look forward to working together to achieve a sustainable future of the industry.“
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
