Investing.com – Since Cardano also supported smart contracts with the Alonzo update last September, the number of projects in development has steadily increased.
In addition to the countless small projects that want to make their contribution to the growth of the ecosystem, there are now also one or the other big player who discovers the possibilities of the ADA blockchain.
As we learned recently, the American cable operator DISH Network (NASDAQ:), 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.”
It can be expected that a large portion of the more than 11 million DISH customers will benefit from the Cardano-based loyalty program in the coming years. The IOG said on this subject:
“DISH will become part of the Cardano ecosystem by operating different nodes, issuing DIDs, mining and burning native assets. The next step includes blockchain adoption, under which DISH users will be slowly introduced to different aspects of the blockchain ecosystem. This includes, but is not limited to, having a wallet.”
Cardano Technical Course Marks
Cardano is up 2.01% in the past 24 hours, with a price of $0.6524.
Currently, we are witnessing the test of the 50 percent Fibo retracement of $0.6539, where resistance is located. If overcome at the daily close, the upside may continue towards the 61.8 percent Fibo retracement at $0.7131.
On the other side, the psychological level of $0.60 provides immediate support, bolstered by the 38.2 percent Fibo retracement of $0.5947.
A drop below this zone opens the door for losses towards the 23.6% Fibo retracement of $0.5214.
By Marco Oehrl