Investing.com – Since Cardano also supported Smart Contracts with the Alonzo update last September, the number of projects under development has continued to increase.
In addition to the countless small projects that want to contribute to the growth of the ecosystem, there is now also one or another big player who is discovering the possibilities of the ADA blockchain.
As we learned recently, the American cable operator DISH Network (NASDAQ:DISH), listed on the stock exchange, will develop a Minimum Viable Product (MVP) on Cardano. The company’s goal is to “develop a stable, fully digital and decentralized identification and loyalty program.”
A large portion of the more than 11 million DISH customers can be expected to benefit from the Cardano-based loyalty program in the coming years. The IOG said:
“DISH will become a component of the Cardano ecosystem by exploiting different nodes, emitting DIDs, mining and burning native assets. The next step includes the adoption of blockchain, where DISH users will be slowly introduced to different aspects of the blockchain ecosystem. This includes, but is not limited to, having a portfolio.”
Cardano Technical Course Marks
Cardano has risen 2.01% in the last 24 hours, with an ADA/USD price of $0.6524.
Currently, we are witnessing the test of the Fibo retracement of 50 percent of 0.6539 dollar, where there is resistance. If it can be overcome in the daily close, the upward movement can continue towards the 61.8 percent retracement of Fibo to $0.7131.
On the other hand, the psychological level of $0.60 is an immediate support, reinforced by the 38.2 percent Fibo retracement of $0.5947.
A fall below this zone opens the door to losses towards the Fibo retracement of 23.6% of $0.5214.
By Marco Oehrl