The teams behind Cardano continue to make moves that are helping push Cardano (ADA) forward. Yesterday, the Cardano foundation announced that they have joined FTHAK (Fintech Association of Hong Kong). Through FTHAK, the Cardano foundation has pushed Cardano many steps ahead in the journey towards mass adoption. That’s because, it will open up Cardano to a bigger community made up of major organizations from Hong Kong and all across the world. For context on how big of a deal this organization is, they recently released a blueprint for Fintech in Hong Kong, Macau, Guangdong and the greater bay area. The announcement read as follows:
“FinTech Association of Hong Kong have released the first and comprehensive report on Fintech in the Greater Bay Area. The report maps out the GBA cities, and policies in relation to Fintech, including the Blueprint. It aims to advocate, collaborate, educate, and differentiate the area from other major economic zones, and make recommendations for future industry development & collaboration in GBA. It is an output of considerable effort put in by our GBA committee and inputs from all other committees of the Association.”
This makes it a strategic partner for Cardano, especially now that blockchain technology is increasingly growing in importance in the Fintech space. It’s a huge step by the Cardano Foundation and follows in efforts that the IOHK and Emurgo are taking in pushing Cardano forward.
The IOHK is working hard towards the Shelley release. They have already announced that community members can start applying to participate in the upcoming stakepool testnet. It’s a huge step towards the decentralization of Cardano (ADA). When all these are combined with Emurgo’s continued investments in high potential projects that are looking to build on Cardano, it becomes clear that Cardano is easily one of the best cryptos in the market today.
In essence, now that bullish sentiment is returning to the market, Cardano (ADA) comes across as heavily undervalued. It is making moves that will make it one of the most practical smart contracts platforms in the market, one that is ready for business. Put in the context of the last bull market, Cardano has what it takes to hit a valuation that is much higher than the one it hit in 2017. That’s because, right now, it has achieved more in terms of technical development, and its more well-known thanks to moves such as those taken by Emurgo and the Cardano foundation. This gives it the potential to hit multiple times its 2017 highs. Signals of its massive potential are already there. Cardano (ADA) is up by over 10%, following Bitcoin’s jump to $8700. As this bullish momentum rises, and money flow into altcoins increases, Cardano (ADA) stands to make it big as FOMO kicks in.
Positive sentiment is already building up with crypto ranking platforms like Weiss already sending out positive vibes about ADA. Weiss recently tweeted that Ethereum needs to consider an on-chain treasury like Cardano’s, and it’s creating excitement around ADA.