Cardano ADA price may not be making any major moves at the moment, but big things are definitely happening in the background. One of the big things that have happened to the Cardano project in the last few days was the addition of ADA to the Centra wallet. Essentially this means that Cardano is now is a spendable asset, something that will have a huge impact on ADA in coming days!
The biggest implication of this will be the acceptance of Cardano by vendors looking to integrate cryptocurrency payments into their systems. That’s because ADA will now be spendable using the Centra card, a card that gives a cryptocurrency access to over 36 million Centra card accepted locations across the world. Essentially this means that Cardano (ADA) just became money! And it’s a big deal given that many cryptos are struggling with low acceptance by merchants, hence reducing their use-value in the market.
This addition to Centra will also see an exponential increase in the volumes of Cardano traded. That’s because, it will be listed on the Centra decentralized market place, where it can be traded for multiple cryptos. With increased trading volumes, you can expect Cardano to attract even bigger traders, and with that an increase in its value. Already trading volumes have been on the uptrend with the release of this news, with the charts showing an accumulation pattern forming.
But even more interesting is the psychological validation that this listing gives to Cardano (ADA). Up to this point, only the big cryptos such as Bitcoin, Litecoin, Ethereum, Dash and Monero have had a place on Centra. The fact that the Centra team has decided to add Cardano is an indication that they believe in the long-term potential of this coin. Remember Cardano is still a work-in-progress, and the fact that it has been added on Centra will send a strong positive message to investors.
Another factor that will play a role in increasing Cardano’s demand thanks to the Centra deal is access to a good cold storage wallet. As things stand, Cardano’s wallet is still a work-in-progress, which makes it a little inconveniencing for people looking to hold ADA for the long-run. However, now that they have the option of storing their coins in Centra’s cold wallet, confidence in the Cardano project will be even greater. That’s because as an investor, you are sure that your coins are safe, away from the preying eyes of hackers who usually target coins stored in exchanges.
Personally, I believe this Centra deal is what will give Cardano (ADA) the impetus it needs to grow. Signs of an impending upshot are already visible. In the last few days, the coin has seen a massive increase in trading volumes even though the price remains relatively unchanged. This could be a sign that whales are slowly accumulating their Cardano (ADA) positions. Once they are done, your guess is as good as mine, on what will happen next. Cardano will shoot to the moon!