Cardano (ADA) has surged more than 20 percent this week after CEO and founder Charles Hoskinson said he would pinpoint a date on August 13 for the launch of Alonzo, the hard fork that will add smart contract capability to the network.
We’ll be able to announce when the Alonzo hard fork is going to happen, and at that point you’ll be able to run smart contracts on Cardano.
Charles Hoskinson, CEO/founder, Cardano
ADA Up 600 Percent This Year
After the announcement, ADA surged to US$1.88. It has skyrocketed 36.5 percent in the past seven days, and a whopping 600 percent from the beginning of the year.
IOHK, the company behind Cardano, says it has begun the new user onboarding process. Once the team is set up, the hard fork is imminent.
The Cardano community has been anticipating the Alonzo hard fork for some time, part of a multi-stage upgrade that will allow developers to deploy smart contracts on the Cardano network.
With Friday’s revelation that the mainnet launch is on track, crypto investors and enthusiasts in general, were hyped on the optimism that a supposedly superior blockchain infrastructure with the possibility to support the next generation of smart contracts is on the horizon.
Konstantin Anissimov, executive director, CEX.IO
Hoskinson, who is also the co-founder of Ethereum, has said Cardano could overtake Ethereum in the long run. Ethereum, however, isn’t falling behind in this race as ETH’s London hard fork was successfully activated on August 4, skyrocketing its price to levels above US$3,000.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Verge (XVG)
Verge XVG is a privacy-focused cryptocurrency and blockchain that seeks to offer a fast, efficient, decentralised payments network that improves upon the original Bitcoin blockchain. It includes additional privacy features including integrating the anonymity network Tor into its wallet, called Verge Pay, and providing the option of sending transactions to stealth addresses. The project describes itself as community-driven, relying on volunteers and priding itself on being open-source.
XVG Price Analysis
At the time of writing, XVG is ranked the 117th cryptocurrency globally and the current price is A$0.03935. Let’s take a look at the chart below for price analysis:
XVG retraced 48% during July before finding support near A$0.02944. The following bounce encountered resistance at the daily gap near A$0.03215.
Bulls might wait for a sweep of the local lows into support near A$0.02778 before stepping in. A move to this level could reach into the higher timeframe gap down to A$0.02459.
In the most bearish scenario, a significant turn in the market could push the price down to the consolidation near A$0.02214.
The local resistance near A$0.04487 and the relatively equal swing highs provide a reasonable first target. Just above, layered resistance near A$0.04952 and A$0.05311 could slow bulls down as they push the price towards the significant swing high at A$0.05641.
2. Ripple (XRP)
Ripple XRP is the catch-all name for the cryptocurrency platform, the transactional protocol for which is actually XRP, in the same fashion as Ethereum is the name for the platform that facilitates trades in Ether. Like other cryptocurrencies, Ripple is built atop the idea of a distributed ledger network that requires various parties to participate in validating transactions, rather than any singular centralised authority. That facilitates transactions all over the world, and transfer fees are far cheaper than the likes of bitcoin. Unlike other cryptocurrencies, XRP transfers are effectively immediate, requiring no typical confirmation time.
XRP Price Analysis
At the time of writing, XRP is ranked the 6th cryptocurrency globally and the current price is A$1.29. Let’s take a look at the chart below for price analysis:
XRP marines continue pushing the price higher, printing nearly 35% gains during the second week of August.
The consolidation near A$1.20 is likely to provide support as the price continues exploring new highs. However, a set of relatively equal lows near A$1.12 provides a tempting target for a stop run into probable support near A$1.00.
A decidedly bearish shift in the market could reach probable support near A$0.9455, near August’s monthly open.
Almost no resistance lies overhead, although low-timeframe traders can use the resistance below recent highs near A$1.38 as a first target. Beyond this level, extensions near A$1.47, A$1.55 and A$1.62 give reasonable higher-timeframe targets.
3. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators and visionaries” to bring about positive global change. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods. The team behind the layered blockchain says that there have already been some compelling use cases for its technology, which aims to allow decentralised apps and smart contracts to be developed with modularity.
ADA Price Analysis
At the time of writing, ADA is ranked the 5th cryptocurrency globally and the current price is A$2.34. Let’s take a look at the chart below for price analysis:
ADA bulls have enjoyed over 95% returns since the July lows, with little resistance above to end the current price discovery.
The price may find support near A$2.11. Still, aggressive bulls should be wary of a potential stop run under the monthly open into support near A$0.9544. The area around A$0.8291 should provide strong support if the price reaches this low.
The air above the current price is thin, but the level near A$2.47 could potentially provide some resistance in the short term. Extensions reaching near A$2.59 and A$2.71 make reasonable take-profit zones if the bullish trend continues.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. Cardano is used by agricultural companies to track fresh produce from field to fork, while other products built on the platform allow educational credentials to be stored in a tamper-proof way, and retailers to clamp down on counterfeit goods.
ADA Price Analysis
At the time of writing, ADA is ranked the 5th cryptocurrency globally and the current price is A$1.86. Let’s take a look at the chart below for price analysis:
Mid-May’s 115% explosion retraced ADA into support at the 62% retracement and daily gap beginning near A$1.66 before spending the rest of the month inside this range.
Aggressive bulls could look for entries in potential support near A$1.63 and A$1.60. However, a more probable and higher-risk reward entry could present itself in support near A$1.57 and A$1.53 after a sweep of the relatively equal lows near A$1.49.
The last swing high near A$2.07 provides resistance. Breaking this resistance creates likely targets at the next high, near A$2.11, and June’s high, near A$2.35.
Beyond these highs, overlapping extensions near A$2.42, A$2.48 and A$2.55 provide reasonable take-profit zones.
2. Axie Infinity (AXS)
Axie Infinity AXS is a blockchain-based trading and battling game that is partially owned and operated by its players. The Axie Infinity ecosystem has its own unique governance token, known as Axie Infinity Shards AXS. These are used to participate in key governance votes and will give holders a say in how funds in the Axie Community Treasury are spent.
AXS Price Analysis
At the time of writing, AXS is ranked the 39th cryptocurrency globally and the current price is A$59.90. Let’s take a look at the chart below for price analysis:
AXS’s relatively small 50% range could suggest that a much larger move is setting up in August.
Aggressive bulls could look for entries at the most recent area of support formed near A$53.41. However, equal lows near A$50.27 make a tempting target for a stop run into this support. This move could reach support near A$48.67.
A decisive move to the downside could run stops below the second set of relatively equal lows near A$44.21, possibly reaching support at an old swing high and a daily gap near A$41.83.
A recent level near A$62.55 provided resistance and caused a recent swing high to form near A$66.38, offering first targets. A move through this high may arrive at new high levels near A$74.65 and A$82.93.
3. Selfkey (KEY)
SelfKey KEY is a blockchain-based identity platform. The technology provides individuals, companies, exchanges, fintech startups and banks with a platform to manage identity data (oftentimes KYC). SelfKey aims to revolutionise the KYC on-boarding process and remain true to the ethos of Self-Sovereign Identity where individuals should be able to own and control their identity.
KEY Price Analysis
At the time of writing, KEY is ranked the 536th cryptocurrency globally and the current price is A$0.00956. Let’s take a look at the chart below for price analysis:
June gave KEY another 69% leg into resistance, beginning near A$0.01602. The retracement through the second half of the month to 52% may be setting the stage for the next significant move upward.
A sweep of relatively equal lows near A$0.008654 into the daily gap and support down to A$0.008241 may offer a favourable risk-reward entry. More aggressive bulls could begin positions at potential support near A$0.007862.
Resistance near A$0.01097 is framed by relatively equal highs just above, which provides a reasonable first profit objective. The last swing high near A$0.01346 provides the next target on a break of this resistance.
Overlapping extensions near A$0.01577, A$0.01739 and A$0.01957 may also be sources of resistance.
Where to Buy or Trade Altcoins?
These coins have high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia. However, you can also buy these coins from different exchanges listed on Coinmarketcap.
Digital retail behemoth Amazon will reportedly accept BTC as payment by the end of 2021. The possibility of a native token also seems to be on the cards. A job posting on Amazon’s website has sparked speculation of a big move into the crypto space.
Update July 28: Amazon have dismissed the rumours stating: “Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true … We remain focused on exploring what this could look like for customers shopping on Amazon.”
According to reports from an Amazon insider, the company will “definitely” be accepting BTC as payment by the end of this year with the possibility of a native token existing.
Amazon posted a job advertisement over the weekend for a “Digital Currency and Blockchain Product Lead” and wants someone who can “innovate within payments and financial system” to head up this position.
Not the First Time Amazon Has Advertised in the Crypto Field
The ad confirms recent speculation that the company will move to accept BTC and other cryptocurrencies as payment methods. An insider spoke to London business news publication City A.M. and gave a brief outline of Amazon’s plans for integrating crypto and blockchain technology.
This is not the first time that Amazon has posted a job offer in the crypto field. Twitter was abuzz with the news and this tongue in cheek job application stood out from the crowd.
According to the insider, Amazon will accept BTC payments by the end of 2021 and is not just going through the motions to set up crypto payments. The plan is an integral part of how Amazon will operate in the future.
Plans to move into crypto will start with BTC, but the company is keen to add other big cryptocurrencies once secure and fast methods of BTC payment have been established.
Should all go well with BTC, the company will then move on to accept Ethereum, Cardano, and BTC Cash before then bringing on about eight more of the world’s most popular cryptocurrencies.
The plan for adopting crypto reportedly comes from the very top of Amazon, Bezos himself.
Amazon Set to Launch Its Own Token
The involvement of a gigantic player such as Amazon will likely drive up the price of BTC and other larger alt coins. And Amazon’s plans for crypto do not stop here. It is reported that when all proposed crypto plans are integrated, the final move will be to create its own native token, reportedly by 2022.
The insider reported that after a year of experiencing crypto as a payment method, a move to tokenisation will take place.
This then becomes a multi-level infrastructure where you can pay for goods and services or earn tokens in a loyalty scheme. There’s little more to it, for now, but you can guarantee the Bitcoin plan will be monitored closely as opportunities with Amazon’s own version of a crypto will be explored.
Let’s take a closer look at today’s altcoins showing breakout signals. We’ll explain what the coin is, then dive into the trading charts and provide some analysis to help you decide.
1. Cardano (ADA)
Cardano ADA is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The ADA token is designed to ensure that owners can participate in the operation of the network. Because of this, those who hold the cryptocurrency have the right to vote on any proposed changes to the software.
ADA Price Analysis
At the time of writing, ADA is ranked the 5th cryptocurrency globally and the current price is A$1.60. Let’s take a look at the chart below for price analysis:
ADA’s 40% July rally could be setting up a more significant bullish move for the rest of the quarter.
Last week, the support beginning near A$1.55 launched a move to the resistance starting near A$1.75. This move failed to close below the previous swing high. However, it did create probable support underneath the high near a monthly level around A$1.90.
Aggressive bulls could enter near this recently formed support. The last swing high at A$1.97 gives a first reasonable target. Bulls could hold for the second target at the set of relatively equal daily highs near A$2.17.
A daily close above the resistance from A$1.98 to A$2.10 could signal an extended move. Resistance at the EQ near A$2.25, a small price range near A$2.30, and probable resistance beginning at A$2.48 give potential take profit or turning points before the equal highs forming the primary objective at A$2.55.
2. Ethereum Classic (ETC)
Ethereum Classic ETC is a hard fork of Ethereum that launched in July 2016. Its main function is as a smart contract network, with the ability to host and support decentralized applications (DApps). Its native token is ETC. Since its launch, Ethereum Classic has sought to differentiate itself from Ethereum, with the two networks’ technical roadmap diverging further and further from each other with time.
ETC Price Analysis
At the time of writing, ETC is ranked the 19th cryptocurrency globally and the current price is A$55.90. Let’s take a look at the chart below for price analysis:
ETC tore upward into price discovery last month before pausing at resistance near the main move’s 0.68 extension.
The price range beginning at A$40.27 provides the first potential support for an early-week dip. Just below this range, the previous swing high and accumulation near A$36.25 could provide more substantial support.
A significant market drop could reach as low as the consolidation range beginning at A$30.68, supported by the January monthly open.
It’s impossible to predict where the price in discovery will go, but the last high at A$69.37 provides the first probable target. Extensions from the primary move hint at A$75.38, A$82.41, and A$86.28 as probable take-profit zones.
3. Telcoin (TEL)
Telcoin TEL is the native medium of exchange, reserve asset, and protocol token of the Telcoin user-owned, decentralized financial platform. TEL enables end-users to seamlessly access and power a global suite of user-owned, decentralized financial products. TEL incentives coordinate market participants, such as telecoms and active users, to provide specific value-added services to end-users of the platform.
TEL Price Analysis
At the time of writing, TEL is ranked the 84th cryptocurrency globally and the current price is A$0.01741. Let’s take a look at the chart below for price analysis:
June saw a 35% spike in TEL price into the resistance beginning near A$0.04329. This move swept July’s swing high, which might set the stage for retracement and reaccumulation.
The previous high and brief reaccumulation near A$0.02377 has so far provided support, making it a reasonable place for bulls to begin building positions.
A deeper drop to run stops and test the daily gap beginning at A$0.01524 is likely to meet support. This area has a confluence with a monthly level and a consolidation zone.
Bulls could target the most recent swing high near A$0.02788. A break of this resistance zone is likely to reach near the old monthly high at A$0.03744.
Resistance near $0.03575 could cause the price to pause. However, a break of this level is likely to proceed to resistance under the next monthly high, near A$0.04137.
Where to Buy or Trade Altcoins?
These three coins have the high liquidity on Binance Exchange, so that could help with trading on AUD/USDT/BTC pairs. And if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is an easy-to-use popular choice in Australia.
Let’s take a closer look at this week’s altcoins showing breakout signals. We’ll dive into the trading charts and provide some analysis to help you.
1. Cardano (ADA)
Cardano is a proof-of-stake blockchain platform that says its goal is to allow “changemakers, innovators, and visionaries” to bring about positive global change. The open-source project also aims to “redistribute power from unaccountable structures to the margins to individuals” — helping to create a society that is more secure, transparent, and fair.
ADA Price Analysis
At the time of writing, ADA is ranked 4th cryptocurrency globally and the current price is $2.14 AUD. Let’s take a look at the chart below for price analysis.
ADA‘s 97% climb during early May returned to the monthly open, sweeping lows several times down to $1.32 AUD.
Last week, the price bounced from the monthly open near $1.78 AUD again, creating possible support near $2.02 AUD. A quick sweep of this recent swing low could reach into a support area near $1.70 AUD, while a sharp downturn in the market is likely to run for the relatively equal lows near $1.40 AUD.
If the price breaks through the closest significant resistance near $2.30 AUD, the swing high at $2.45 AUD is a likely target. This move could reach a daily gap near $2.60 AUD.
Strong bullish momentum could propel the price to resistance near $2.81 AUD. If this move occurs, the significant swing high near $3.15 AUD provides a reasonable goal.
2. Callisto Network (CLO)
Callisto Enterprise, a branch company focusing on enterprise applications of blockchain technology. Several major public transport companies from central and eastern Europe have joined in this initiative.
Callisto has built a scalable blockchain ecosystem featuring a staking mechanism, a full DeFi protocol, and a stablecoin. Callisto Network is a self-sustaining and self-funded blockchain ecosystem, not financed by pre-mined coins or an ICO.
CLO Price Analysis
At the time of writing, CLO is ranked 513th cryptocurrency globally and the current price is $0.02086 AUD. Let’s take a look at the chart below for price analysis.
CLO spent the month of May ranging across the monthly open, reaching 26.5% over and 45% below.
The price is currently consolidating between adjacent resistance and support at $0.01675 AUD with no clear higher-timeframe trend. A strong move over the monthly open could signal a run to resistance beginning near $0.02275 AUD.
This move would likely target the swing high at $0.02541 AUD and relatively equal highs near $0.02761 AUD. A sustained bullish trend could reach up to the April high near $0.03500 AUD.
Bulls might see a sweep of the relatively equal lows near $0.01142 AUD as a chance to buy at a discount. If this level fails to hold, the next significant area for the price to find buyers is likely near the consolidation around $0.00724 AUD that began March’s bullish trend.
3. Verasity (VRA)
Verasity is a Protocol and Product Layer Platform for Esports and Video Entertainment. Verasity’s mission is to significantly increase advertising revenues for video publishers on any video platform through its rewarded player and ad stack utilizing its patented protocol layer on the blockchain – Proof of View. PoV is the only Protocol Layer patented technology for the blockchain USA Patent.
VRA Price Analysis
At the time of writing, VRA is ranked 394th cryptocurrency globally and the current price is $0.02433 AUD. Let’s take a look at the chart below for price analysis.
VRA‘s strong downtrend that began in mid-April has retraced most of its Q1 move, recently sweeping lows near $0.0168 AUD but struggling to find strong support.
A sweep of the relatively equal lows near $0.0128 AUD into possible support around $0.00122 AUD, combined with bullish market conditions, could be the catalyst that begins to form a bottom. If this level fails, bulls might buy the monthly gap’s low near $0.0098 AUD.
The swing low near $0.0326 AUD may form resistance to any sudden pumps as holders unload some of their position. A more substantial move might sweep relatively swing highs into probable resistance near $0.0438 AUD, potentially reaching up to the May monthly open near $0.0521 AUD.
Where to Buy or Trade Altcoins?
These 3 Altcoins have high liquidity on Binance Exchange so that could help with trading. Instead, if you’re looking at buying and HODLing cryptos, then Swyftx Exchange is a popular choice in Australia.
Cardano co-founder Charles Hoskinson has said his blockchain could overtake Ethereum in the long run.
During a Yahoo Finance interview, Hoskinson denounced Ethereum’s bottlenecks like throughput and gas fees. “It’s overrated,” he added, saying that the largest DeFi ecosystem will rather fall behind Cardano.
Comments came after Hoskinson said his team will soon work on the Alonzo upgrade, bringing smart contracts for developers and competing with other DeFi networks such as Binance Smart Chain (BSC) Ethereum and Polkadot.
Ethereum is “Killing Itself”
While ETH 2.0 is on the way to solving some of the issues with the original network, Hoskinson said it will only replace ETH in the long run:
First of all Ethereum is killing itself. They are replacing Ethereum with Ethereum 2.0. In the end ETH 2.0 will kill ETH 1.0.
Charles Hoskinson
Hoskinson said that Ethereum could only process smart contracts, while Cardano can do that with “governance and compliance”. He added that Cardano could operate with metadata besides automated regulation.
After denouncing Ethereum’s capabilities, he went on to criticise Bitcoin maximalists, comparing the required energy usage to “clear cutting of the forests in Europe in the 19th century”.
Cardano Providing Digital Identities with Blockchain
Hoskinson outlined how Cardano is helping to bring identity through blockchain, something that Ethereum “has never done”, citing Africa as an example.
IOHK, the company behind Cardano, has partnered with several countries on the African continent, including Tanzania and Ethiopia. Their goal is to provide quality internet connection after these countries have experienced large internet shutdowns, and to create digital identities through blockchain technology.
Nevertoolavish, a “custompreneur” based in Jakarta, has made limited-edition hand-painted sneakers for crypto enthusiasts.
Although many custom pairs of kicks are simply colour changes, some are made by artists who change plain white into elaborate designs and dreamy sketches – or into crypto fashion statements.
Aside from these BNB-themed shoes, custom AF1s are available for fans of Bitcoin, Dogecoin, Cardano and others. A pair of these will set you back around 445 AUD (excluding shipping and other fees) according to the product page on Tokopedia (only for Indonesian customers).
For those international customer (outside Indonesia) interested on Crypto AF1 please DM us, there're several following steps 🙏🏻
As mentioned on Twitter, international customers have to inquire Nevertoolavish directly. However, their Twitter profile cannot be direct-messaged so you might need to contact them via WhatsApp (numbers provided on Twitter profile). There is also a LinkTree page with more resources.
Not Only Shoes, NFTs Too
In addition to selling custom shoes and other clothing items, Nevertoolavish also sells NFTs, created through the same thought process used to give solid colour shoes a fresh coat of paint.
Although crypto fashion has been around for a while, it’s mostly been limited to virtual pieces. There have also been notable exceptions, however, such as SwapPay – an Aussie Cryptocurrency for Fashion made specifically for the fashion industry. Some big brands seem to be aware of this niche, indeed Nike holds a patent for blockchain-based sneakers.
Now, however, you can show your love for crypto by wearing an eye-catching fit.
While BTC faces tough resistance, the altcoin market has been mostly bullish this weekend, with Ethereum achieving a new all-time high of $3,980 USD, maintaining a steady level between $3,800 – $3,900 USD.
Another great gainer was ADA, reached a new all-time high with a 14% gain after a sharp price drop, being traded at around $1.83 on many exchanges. The surge in price put ADA back on the fifth spot in the market according to CoinMarketCap, taking the spot of Tether (USDT). Now ADA seems to be aiming at testing the $2 psychological barrier if the bull run continues.
BNB gained over 10% in price in the last weeks, reaching $659 USD with a strong buying sentiment. If the bull run continues, the next target for BNB could be above $800 USD.
ETH vs BTC
After falling down to around $49k USD amid hashrate drops due to blackouts in China, Bitcoin recovered some of its market dominance, reaching $75k AUD on Saturday.
However, BTC failed to keep its upword trajectory, receeding to $72k AUD as the weekend trails away. At the time of writing, its price is hovering around $74k AUD.
Crypto Market Locking US$2.4 Trillion
Crypto Total Market Capitalization, 10 May 2021 [CoinMarketCap]
The total market cap added $60 billion this weekend, now sitting on a $2.46 trillion total market cap. The crypto market could experience a considerable boost if Citibank decides to add crypto-related services to its clients after seeing massive demand for crypto assets.
Input Output, a technology and engineering company, has partnered with World Mobile Group in a new initiative to bring the internet to users in Zanzibar and Tanzania. The partnership will enable business owners in Africa to supply themselves and others with a connection to the internet and be rewarded for it.
TLDR; Of the Africa Special #CardanoAfrica 1) 5m users for digital IDs, 30m in pipeline 3) New telco in Tanzania, 50% price, 2x speed @WorldMobileTeam 4) 5 new African countries by 2021, 20 countries 2022 5) 100m loanbook after Alonzo doing #RealFi@IOHK_Charles@InputOutputHK
According to a press release, via Cardano Smart Villages in Zanzibar and greater Tanzania will enable users to create “a verifiable digital ID, providing access to vital services such as banking, healthcare, education, and human rights protection.”
The networks that have been established as use cases, which have been up and running for almost 2 years have allowed local fishermen to grow their businesses, quintuple their profits, and triple the number of local shops and restaurants.
World Mobile is delivering a wireless network at a fraction of the cost by using a solar-powered device the runs on a hybrid unlicensed spectrum.
Together, the companies will provide affordable network nodes, based on the Cardano blockchain infrastructure, to local business owners. These network nodes act as local relays for internet connectivity. Subscribers to these networks will be able to access Input Output’s digital identity solution, Atala PRISM,
Input Output
No Infrastructure, No Problem
There are more than 700 million people in Africa that are not connected to the internet. It’s not profitable for network infrastructure companies to extend their reach to these people. For these individuals not having access to the internet bars them from basic services like education, banking, or healthcare.
Who would have guessed that having little to no infrastructure would turn out to benefit Africa in the long run? According to Charles Hoskinson, CEO of Input Output:
That lack of deeply embedded legacy infrastructure makes the transition to blockchain-based infrastructure a relatively low friction process, with the potential for developing countries to ‘leapfrog’ advanced industrialised economies by adopting next-generation infrastructure.
Charles Hoskinson
ANNOUNCEMENT: To bank the unbanked we first need to connect the unconnected.
The application of these technologies in Africa may have the potential to uplift many lives. And since there has been so little investment into infrastructure, there will be little that needs to be replaced and transferred to new infrastructures allowing these companies to build from the ground up.
![Crypto Total Market Capitalization, 10 May 2021 [CoinMarketCap]](https://content.cryptonews.com.au/wp-content/uploads/2021/05/20210510-marketcap-1400x536.png)
