Greetings from London where finally I am back from my travels sporting a new blue tick on my Twitter account. Yay! Thanks Jack! As City AM‘s Crypto Insider I am by definition involved in a number of projects and I am protocol agnostic – only by working together and shedding tribalism can the blockchain, crypto, defi & digital asset space truly flourish.
By coincidence rather than by design it’s become a very significant week in my calendar and one that puts paid to the myth that Cardano is a ghost chain.
I have been working closely with World Mobile pretty much since inception and recognised the synergies between its ambition to connect the unconnected and Charles Hoskinson’s desire to bank the unbanked which starts with a DID (digital identity) and of course blockchain, so I made the introduction and the rest is history.
World Mobile Token has been minted on Cardano and goes live on July 4 – Independence Day – with the sale starting on Monday July 5.
I am also very excited to be an advisor to MELD who have designed and implemented (with a fully supportive legal opinion) the concept of an ISPO (Initial Stake Pool Offering) where Ada coin holders can stake them to invest their rewards into a project. So zero risk which is such a rarity. MELD itself is the first ISPO which goes live on Thursday July 1. In the meantime Ada holders have been delegating and at the time of writing the total is 4.5m ADA.
The ISPO method is truly groundbreaking within the Cardano Ecosystem and is being avidly embraced by the Cardano Community and as such I can exclusively reveal that at the end of the MELD ISPO, the MELD Foundation is releasing its ISPO Methodology to the Cardano Foundation in the form of a paper for the benefit of the community and forthcoming Cardano based projects.
Crypto at a glance
The crypto market continues to limp toward something that resembles a recovery this morning, with Bitcoin and Ethereum prices both up slightly. Ethereum, in particular, is making headway. The second-largest cryptocurrency is at its highest price since 21 June, up another four per cent over the past 24 hours to $2,150. Can it recover to the $2,500 it held for so long?
The change in fortunes marks something of a turnaround for Bitcoin, which had been recovering market dominance lately. The leading cryptocurrency had fallen to a market share of just 40 per cent in the run-up to May’s price crash, as the hype around alt coins reached fever pitch. It’s since bounced back to a market share of around 46.5 per cent, but is down from over 47 per cent yesterday. Will it need to recover for the bull run to get back on track?
Market sentiment also continues to languish in Fear, where it’s now sat since mid-May, while trading volumes continue to be low. This suggests weak support for any price movements. This is despite increasingly bullish sentiments from investors, particularly Mexican billionaire, Ricardo Salinas, who is making quite the impression on Twitter. There’s also a host of pundits pointing to supposedly-bullish market indicators, including Plan B and Lark Davis. Will they be proved correct, or is fear still the order of the day?
Other big gainers today include Bitcoin Cash (+7 per cent), Internet Computer (+14 per cent) and Ethereum Classic (+14 per cent).
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Read More:Cardano is no ghost chain – CityAM