Cardano is making more and more progress on its way to public smart contract mainnet frenzy.
All this development has caught the attention of the whales.
Well, I've been big on Cardano for a while now,
and I'm here to keep you in the loop.
Let's get it!
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My name is Ben.
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In today's video, we're going to be taking a look at all of the big stuff going on with Cardano.
And at the end of this video,
I've got a special announcement about our Cardano staking pool,
the BitPool.
I show you how you can make a ton of money staking your ADA with us.
Before we get into the news,
let's do a quick price update.
ADA is having a rough time during this choppy market,
falling 16% over the past seven days.
$1.13 is where ADA is sitting at at the time of the recording of this video.
Some of this is from the general market volatility,
but it's also due to the FUD coming from Cardano's enemy.
More on that in a moment.
For now, let's zoom out.
Cardano is still up 551% for the year.
ADA is for sure a long-term hold for me,
and I stand by my prediction that ADA will 5X in the next 24 months.
But the goons at the Digital Currency Group are not happy with Cardano
and are starting to turn up the FUD to take it down a few notches.
Nothing can sum that up better than the absolutely outlandish article
that came out of CoinDesk last week.
CoinDesk, as you remember, is the mouthpiece for the Digital Currency Group.
You can click this link above to get acquainted with the crypto's first cartel.
In this article,
the writer attempts to paint Charles Hoskinson as some colonizing robber baron
bent on cornering the African crypto markets all for himself.
It's one giant straw man argument guised up to look like journalism.
Don't get sucked into the FUD.
The DCG is trying to push Cardano out of the smart contract game
while other institutions see Cardano as the future of smart contracts on a global scale,
so they'll be putting out FUD to depress the price in the short term
so they can accumulate.
But moving past the FUD and the whales, let's get to some good Cardano news.
ADA topped the list on Motley Fool's 4 Eco-Friendly Cryptos You Should Know About.
While the environmental FUD is largely overblown,
it's good to see major publications setting up the counter argument
that crypto is ruining Gretta Thunberg's childhood.
Cardano took the top spot followed up by XRP, Tezos and Nano.
Motley Fool did a great job looking at the energy numbers for Cardano
showing that the entire network uses the same amount of energy 600 American houses use.
It's not a bad trade-off for a revolutionary technology that will lift billions out of poverty.
This article is not the first time Motley Fool has supported Cardano.
They wrote about it back in May as well.
Good on them.
Come on to the ADA gang, Motley Fool.
An all new Cardano developer portal is live and kicking.
And to celebrate, they minted 10 of the world's first NFTAs,
as NFTA is a non-fungible token of appreciation.
Thanks, Charles.
Besides the NFT pat on the back, the CDP is full of neat Cardano NFT projects,
including games, avatars, a full list of Cardano wallets,
and loads of tools for developers to use and modify.
This is of course incredibly bullish for Cardano,
and you should take some time to get familiar with the new project popping in on it.
One really neat project is ADATools.io,
a real time global tracker for the Cardano network and the staking pools.
Check out the link in the description to take a look.
Cardano's Alonzo testnet has matured last week,
moving from the Alonzo Blue to Alonzo White.
Alonzo White is an upgrade to Cardano's previous testnet Alonzo Blue,
which offers smart contracts to a limited set of technical insiders.
With this upgrade,
the team led about 500 validators, stake pool operators and developers test out the feature.
Alonzo White will run for two to four weeks before the testnet moves to its next stage.
The final part of the Alonzo upgrade will come to live in September of 2021.
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So the upgrades are happening for Cardano though.
Slower than anticipated, but still faster than Ethereum 2.0.
Now, check out this article from Investorplace.com.
They are openly telling people that ADA is a long-term investment.
They go on to give a lot of bullish comments on Cardano's fundamentals
and very bullish predictions on the price of ADA over the next few years.
I'm buying ADA.
I own more than a million of it.
Whales and investors are buying ADA as fast as they can.
Keep that in mind as you reevaluate your portfolio during this bull market pause.
Institutional investment in Cardano surged over $24 million this year alone.
Grayscale is even getting in on the action.
Staking volumes have increased tremendously as the hardfork draws near.
And so far, there has been over $31 billion worth of ADA staked ahead of the hardfork.
Cardano boasts the highest number of staked coins,
ahead of Ethereum,
with over 70% of the entirety of ADA supply currently staked.
IOHK had their mid-month development update Zoom call just the other day.
You can watch the whole thing on YouTube.
Link in the description.
Tim Harrison,
the Marketing and Communications Director at IOHK,
talked with several engineers
and gave a lot of good information regarding the rest of the Goguen era updates.
After Alonzo White,
the team will move on to Alonzo Purple,
which will be the start of many fun things
like introducing more community members.
The official Cardano wallet will get some finishing touches.
But the real game changer will be the start of the public network.
That's where we're going to see big growth
and possible price action that could reboot this wacky market.
Cardano will finally be able to spread its wings and start delivering some real products.
You know the Ethereum team is watching this closely,
as is the rest of the cryptoverse.
DEXs like SundaeSwap will go live very soon,
so all the unicorns and pancakes may start feeling a little left out.
There's sure to be a lot of activity on the Cardano flavors of DeFi,
so make sure to not get swept up in a memecoin frenzy
like what happened on BSC.
Be smart.
There are plenty of gains to be made on Cardano.
But if you really want to maximize your ADA bag,
do what the pros do,
and stake it.
But don't just stake it anywhere.
Stake it in the official BitBoy Crypto ADA staking pool.
We call it the BitPool.
And we'd love to have you.
Come put your tootsies right in.
You can stake to the BitPool through the Daedalus and Yoroi wallets.
We put a link down below in the description that will take you to a step-by-step guide for both wallets,
as well as our staking address.
Make sure you follow the steps.
It's a good idea to do a couple of test transactions
before sending your whole bag over to any staking pool.
You can expect returns anywhere from 4-6%
depending on network usage, pool saturation and several other factors.
You can get all the information for Cardano yields
on the handy staking calculator that we've linked too in the description.
That's all I got.
Be blessed.
BitBoy out.