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Investors Making Huge ADA Purchases Prior to Cardano Summit! Will ADA Hit $10?

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    The official commercial arm of Cardano partners with Blockchain 4A to bring revolution to DeFi infrastructure on Cardano

    Cardano holders making a big purchase in anticipation of the upcoming Cardano summit

In just 5 days after the deployment of the Alonzo smart contract on the Cardano mainnet, over 40k smart contracts have been deployed. Yes, the ADA price didn’t surge, but the social trends signalling a strong buy signal as Cardano holders are making a huge purchase. This is followed by a much-awaited Cardano summit which is going to take place on 25th and 26th September. Cardano community is anticipating new partnerships, DeFi, DEX announcements on Cardano Blockchain!

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A week before a Cardano summit, the platform came up with one of the promising announcements. EMURGO . It is one of the founding entities of Cardano has partnered with Shenzhen-based technology firm Blockchain 4A to form Astarter. Further, this Astarter will build a launchpad, decentralised exchange, money market and tax service dApps on the Cardano blockchain.

Also Read: Top Projects On Cardano Smart Contracts On The Verge To Boom In The Market

Interestingly, the altcoin Solana which was recently making headlines with an exceptional price provides a similar kind of service. The SOL network spent huge resources and money on developers and hackathons to bring users to buy underlying coins to use those dApps. An increase in adoption is something that takes the price to the moon. To give tough competition to SOL in this DeFi world, Cardano is coming up with collaborations to build more advanced technology.

Prior to the Cardano summit, Cardano partnered with Taurus in order to integrate its staking capabilities. Amid rising positive sentiments on Cardano, Sidney Vollmer, head of brand and comms at Cardano, raised community curiosity with his tweet. The head said some of the projects will blow people’s minds and the network is coming up with innovative ideas to build a user-friendly DeFi world.

Cardano Registered Huge ADA Purchases: ADA Price is on the way to Hit $10?

Overall, the Cardano network has already created much hype among the community members. Though there is no significant price rise yet. The crowd is rushing to buy ADA on a huge scale that will blow anybody’s mind. Going through a couple of purchases on a Cardanoscan, found buys of 9 million ADA, 2 million ADA, 4 million ADA. This strong buy might have happened at an average Cardano price of around $2.4. Whether this investment is coming from institutions or individual accounts is unknown. The results will come out slowly sooner or later at the Cardano summit.

However, currently, the ADA price is trading at $2.40 at the press time forming a strong consolidation phase. Decentralized, a popular crypto educator, said that ADA may hit $10 soon pointing to BTC’s recent golden cross. He predicted ADA to boom next level in the upcoming bull cycle.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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