- Cardano bulls return to revenge against the bulls following the bears bite mid-last week.
- CEO of Cardano, Charles Hoskinson ask community to support the removal of Cardano Foundation chair.
Cardano (ADA) is trading in the green at the time of writing enjoying the support from the community in the week of the network updates released by the founder. The crypto is currently ranked 9th in the market with a market cap of $1.9 million. The 24-hour trading volume is currently at $29 million. The trading on Tuesday has been very fruitful for ADA/USD amid widespread consolidation.
The general bullish trend yesterday saw Cardano rise from the ashes to trade highs of $0.078. The bulls were on a revenge mission following the crippling declines mid-last week. At the time of press, ADA/USD is range-bound between $0.06 and $0.094. The price is likely to encounter resistance at $0.077 as well as $0.089 as it attempts another upward move towards $0.1. A support has been established at $0.065 and $0.070 respectively.
In the meantime, Cardano has hit the headlines after an open letter written by Charles Hoskinson to the community. In the letter Hoskinson states:
“If you are a believer in the Cardano vision, if you are an investor in the Cardano venture, or if you simply believe, regardless of the loose regulation of the crypto space, that we still deserve crypto leaders to be accountable and to be brought to justice, then you should sign the petition to allow us to raise our voice and get Mr. Parsons to take the appropriate action.”
The Chairman of Cardano Foundation, Mr. Parson is suspected to have “hijacked & paralyzed” the organization.
Meanwhile, the CEO of Cardano Charles Hoskinson recently revealed the next plans for the network ecosystem, growth and other developments plans.
“We have so many amazing things coming out,” He said while elaborating, “This is the first time we’ve ever talked about the sharding design that we have for Cardano […] This is the first paper with parallel chains paper that we’ve written so it’s like our take on DAGs and our take on how to shard things and we are moving in that direction”