Talk about Cardano and the US election
At the beginning of July, the price of Cardano suddenly rose by 40%. I heard that there might be a more exciting rise in the future, breaking through 100% in the long term! This is all because there is some movement from the US government, saying that Cardano can be used in the blockchain voting system.
Look, ADA has risen by 0.9% in the past 24 hours. Now it has returned to above $0.54 and climbed to $0.5866. This trend looks quite optimistic, and it may be able to make a wave.
If the United States really uses electronic voting, will the price of Cardano follow suit? Now everyone is guessing whether Cardano and Hedera can have a place in the blockchain voting system.
I heard that Sean, the former boss of Oracle, said that Trump and the next government efficiency department (DOGE? This name is quite funny) are both thinking about blockchain voting and identity verification. However, Cardano and Hedera officials have not spoken yet, so we have to wait and see.
But Cardano's investors are already excited, thinking that this network has a set of identity authentication, which can be used for voting in the future. In this way, the reputation of the "ghost chain" can also be changed, becoming more reliable and more useful.
If Cardano really becomes a voting network, then investors' confidence in ADA will definitely soar, and the price will follow.
In the final analysis, Cardano's security, scalability and durability are all its plus points. It will definitely be able to compete in the field of electronic voting.
In addition, Cardano's founder Charles Hoskinson said that he will work on encryption policies in Washington, DC in 2025.
Let's do a technical analysis: ADA's price trend looks like it's going to turn around. From the previous lowest price to the highest price, Fibonacci calculated that the potential resistance levels are $1.87, $3, and $3.81. According to this trend, ADA's next target may be $3.1, which is 549% higher than now, or more than 6 times!
The recent rise is accompanied by an increase in trading volume, indicating that buyers are quite interested and the price will continue to rise. However, if the price falls below $0.3, then this bullish view will be another matter.
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