The Cardano Foundation's achievements could pay off
The Cardano Foundation shared the goals it had achieved in the year 2019 and which could pave the way for this year's ADA price campaign.
Cardano’s review 2019
In a recent blog post, the Cardano Foundation revealed that 2019 was a “transformative” year for the nonprofit organization as well as for the Development of their domestic cryptocurrency ADA was.
The team of the foundation grew to more than 20 people in 12 countries, including Canada, China, Germany, Japan and Portugal. This has driven the Cardano community's growth to more than 1.1 million people worldwide.
Nathan Kaiser, the foundation's chairman, said that last year was about getting the foundation back on track “and working in a robust, sustainable framework.”
“We looked at our legal, tax, partnership and administrative matters. We have more than 100 control measures from more than 100 Decisions applied in these areas and the Council strengthened with new appointments. ”
Kaiser added that one of the greatest successes of the year 2019 are the strategic partnerships that the foundation has achieved to expand the benefits of ADA .
The company has teamed up with Konfidio, a Berlin blockchain venture studio, to expand Cardano's use cases from “supply chain and logistics, IoT to identity management”. In addition, collaboration with COTI, a company-wide fintech platform, was essential for the approval of AdaPay. This is a payment solution that allows traders to accept ADA and get Fiat into their bank account.
According to Kaiser, this year will be even more promising for the foundation. You will take more responsibility for the development of ADA. In addition, the foundation will focus on the introduction to “key industries and real use cases in vital sectors”. While the Cardano Foundation is preparing for a “very busy year 2020”, ADA could be on the brink of a major upswing.
In the long term, Cardano could start a new upward trend soon. Based on the TD sequence indicator, there is a high probability that a buy signal will be presented on the ADA 1-week chart in the next week. If the bullish formation is confirmed, the cryptocurrency could rise or initiate a new upward countdown.
In the same way, the bullish momentum of recent days has caused moving averages to form a gold cross on the ADA 1-day chart. As the 7-day moving average over a 30 – and 50 – Daily Moving Average crossed, the potential for a significant breakout increased. Many investors see this technical pattern as one of the most definite and strongest buy signals that could trigger a long-term upward trend.
It is worth noting that an increase in selling pressure could jeopardize the bullish outlook. Should Cardano move below the $ 0, 03 – mark, he could target lower lows and that since the end June 2019 continue observed downward trend.
The various partnerships that the Cardano Foundation 2019 has achieved could soon pay off. According to the non-profit organization, the year 2020 will be even more “transformative”, since the focus will be on expanding the benefits. From a technical point of view, it seems that this cryptocurrency will actually benefit from last year's achievements.
Proof of text: cryptoslate