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- 1 Cardano shared about the recent happenings in its ecosystem in its newsletter.
- 2 As per the recent happenings in the Cardano ecosystem, it added about its “regulatory in Indonesia” along with more updates.
Cardano, the public blockchain platform, has shared a tweet on June 28, that was a part of its daily news updates. In this tweet, it added about the “regulatory progress of the blockchain platform in Indonesia, and its price rally.”
#Cardano Daily Digest: ✒️ Cardano's Regulatory Advances in Indonesia / The Foreon Network Seed NFT / ADA Rallied 17500% Last Bull Run
— Cardano Feed ($ADA) (@CardanoFeed) June 27, 2023
Your daily dose of Cardano news straight to your inbox! https://t.co/OCIiqJ3Qsm
Cardano and its Latest Highlights
Dan Gambardello, a crypto analyst, shared insights on the developments surrounding Cardano (ADA). As per his insights, he emphasized the “regulatory progress in Indonesia where ADA has been approved for trading as a community.” In the Cardano Feed, he “underscored the significance of this regulatory support.”
Gambardello also highlighted the blockchain platform’s “burgeoning decentralized finance (DeFi) ecosystem,” and also suggested a promising future for the project. According to him, the mini bull market is currently underway in the blockchain platform which attributes it to the regulatory advancements in Indonesia and the growing Cardano DeFi sector.
However, as many are awaiting for the next crypto bull cycle, the blockchain platform is already “witnessing positive developments,” as he added. The crypto analyst also cautioned the viewers about the risks associated with the latest tokens and scams. He clearly emphasized the need for thorough research and awareness of the broader crypto market context.
Gambardello seemed quite bullish for ADA price as the impact of recent regulatory challenges in the U.S. will be “favorable”. He appreciated the government of Indonesia who recognized ADA and the other cryptocurrencies as commodities.
As per his comparison, the current valuation of Cardano is just over $10 Billion and is “undervalued compared to Ethereum’s $226 Billion market capitalization.”
Furthermore, as per the tweet, the blockchain platform showed “a gradual recovery from recent regulatory scrutiny in the U.S.” Its DeFi sector has experienced a steady increase in total value locked (TVL).
In the last bull run from the 2020 bottom to the 2021’s bull peak, Cardano outperformed both Bitcoin (BTC) and Ethereum (ETH). As per the tweet by Jarvis Labs shared on June 27, ADA gained more than 17,000% in the last bull run, and how “ADA outperformed BTC by a factor of 10.”
17,469%
— JarvisLabs (@Jarvis_Labs_LLC) June 26, 2023
That’s how much @Cardano gained from the March 2020 bottom to the top of the 2021 bull market.
Georg W., the community manager at Cardano, also shared an update with the community that they have “published a new research paper titled “Heuristic-Based Address Clustering in Cardano Blockchain” in collaboration with the University of Zurich.
📣 Exciting news for the #CardanoCommunity ! We've just published a new research paper titled "Heuristic-Based Address Clustering in Cardano Blockchain" in collaboration with the University of Zurich. 🎓 This innovative study explores heuristic-based methods for address…
— Georg W. (@lodl_de) June 27, 2023
As per the tweet, this innovative study explores heuristic-based methods for address clustering on the blockchain. According to Georg W., their work takes a deep dive into the complexities of blockchain data analysis and proposes two new clustering heuristics for the blockchain platform payment addresses.
Moreover, this could revolutionize how we understand and analyze transactions on the blockchain platform network.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
