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Cardano’s Emurgo Partners With Travala To Drive ADA adoption

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Emurgo–the business development wing of Cardano, is partnering with Travala–a blockchain-based platform for online hotel and accommodation booking  that supports an array of cryptocurrencies. 

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The announcement was made on June 30, 2020, and the deal will see Travala list ADA—the native currency of Cardano, as one of the supported digital assets.  As part of their marketing, all users who pay with ADA will receive a 10 percent cash back through to July 31, 2020.

AVA And ADA Prices Are Stable

ADA remains range-bound against the USD while Travala (AVA) has registered minimal gains in the last trading hour.

However, significant to Cardano is the integration of a platform that is already delivering value to thousands of travelers in over 230 countries across the globe who would rather pay in crypto than cash.

Ken Kodama of Emurgo, in a statement, said:

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“As global travel begins to gradually resume, EMURGO is excited to partner with Travala.com to bring functional utility to Cardano ADA users. Being able to book flights, hotels, and other travel accommodations with ADA at over 2 million properties in 90,000 international destinations demonstrates EMURGO’s focus to drive real-world Cardano adoption.”

Driving ADA Adoption Ahead Of Shelley Mainnet Launch

Through this deal, Emurgo and Cardano have made known their intention of driving ADA adoption especially at this time when the developer community is ramping up and testing code in preparation for the Shelley mainnet.

Shelley brings about complete decentralization of Cardano by allowing different validators to join the network.

Charles Hoskinson—the lead of IOHK which develops and vets submitted code, is confident of Cardano’s decentralization. He has proudly stated that once Cardano rolls out, it will be in several folds trump Bitcoin’s level of decentralization.

Towards a seamless transition, the Cardano development team (IOHK) has requested the extension of the Incentivized Test Network where real ADA is used to test, using real-world data, how Shelley will operate. ADA received as rewards will be reimbursed in August 2020.

Travala and TravelByBit Strategic Merger

Travala has already merged with TravelByBit—a competing platform backed by Binance.

As agreed, the first phase of their deal will be to cross-market each other’s offering before full integration of their service to create one of the largest blockchain-based travel platforms in the coming days.

Travala’s strategic merger revived talks of a possible AVA listing on Binance.

Cardano's Emurgo Partners With Travala To Drive ADA adoption
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Cardano’s Emurgo Partners With Travala To Drive ADA adoption
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Emurgo–the business development wing of Cardano, is partnering with Travala–a blockchain-based online travel agency that supports an array of cryptocurrencies.
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Author: Dalmas Ngetich



Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich

Source: https://coingape.com/cardanos-emurgo-partners-with-travala-to-drive-ada-adoption/

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Recently-appointed Blockchain Australia CEO elaborates on the future for blockchain

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Steve Vallas, who was appointed to the top spot this month, speaks about the importance of revamping the perception of blockchain, its utility in the post-pandemic world, and more

Blockchain Australia, the end to end Blockchain Consulting and Technology company, recently appointed Steve Vallas as their Chief Operating Officer (CEO). In an interview with Coin Telegraph, the newly-appointed CEO explained his vision for the future of Blockchain Australia and the future direction of the industry.

Vallas said that building up public confidence in blockchain and improving the image of the technology among businesses and governments across the world topped his to-do list.

Steve Vallas replaces Nick Giurietto, who led Blockchain Australia for the last five years in the top spot. Vallas, who is a qualified lawyer and blockchain technology strategist, has worked as an industry coach and mentor for multiple universities and accelerator programs.

He is also the founder of the Australian marketing firm Honey Digital. Vallas has previously been part of the advisory team for governments on blockchain technology.

His main focus will be in improving the confidence of key industry leaders on blockchain technology by presenting it as a stable and well-developed solution. “It comes down to people’s definition of blockchain. Their views were formed during the 2017 period where a lot of scams and [poorly planned] projects failed,” he stated.

Vallas elaborated that blockchain is often considered synonymous with cryptocurrencies, but the use of the technology across different sectors is difficult to explain. Even today, many don’t understand how blockchain can benefit the supply chain, retail or legal sectors.

The pandemic presents a unique opportunity for the blockchain sector and the industry must take full advantage of it, Vallas claimed. He said that, “it [COVID-19] has highlighted the flaws in current systems” and the need to keep systems running without the constant need for human intervention.

Disruption in supply chains over the past few months has led organisations to be open to unorthodox solutions. Blockchain Australia must seize the opportunity to contribute to a post-pandemic future, he added.

The Australian Ministry for Industry, Science, Energy, and Resources, formulated a national strategy for capturing the potential of blockchain engagement in businesses called the National Blockchain Roadmap, earlier this year.

Vallas said that he aims to bring industry leaders, government officials, and other relevant parties to the same page with the new initiative. He added that the National Blockchain Project is viewed as a clear indication that the government is willing to work with blockchain leaders to develop a sustainable plan.

Source: https://coinjournal.net/news/recently-appointed-blockchain-australia-ceo-elaborates-on-the-future-for-blockchain/

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Bitcoin’s decoupling and reduced correlation enable small-cap asset rally

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The world of finance was shaken on March 12 when the markets started to realize the impact of COVID-19. Before the Black Swan event that engulfed most profits in the market, the cryptocurrency market had been rallying. Bitcoin, the largest digital asset that shares a strong correlation with most cryptocurrencies in the market. When the largest asset crashed, the plunge witnessed by other assets was also brutal. However, as the first half of 2020 ended with June, the dynamics in the market have flipped.

As Q1 painted a bloody picture across the crypto market, Q2 began with the excitement about the new developments and recovery set in the market. Up until May, the entire crypto market climbed steadily at a highly correlated growth rate. However, as May came to an end, only small-cap assets managed to keep up with the momentum. According to a report by Arcane, the small-cap assets rallied throughout Q2 and managed to gain 112%. Whereas the mid-cap assets maintained 50% growth, followed by Bitcoin at 44%, and lastly by other large-cap assets by 40%.

Q1 and Q2 brought different events in the market and the reaction from the market was at two extremes. As the first half culminated, the small-cap assets emerged winners with 141% growth, while mid-cap assets remained at 54%. The large-cap assets reported growth of just 29% and BTC could manage to report a growth of 27%.

The small-cap assets have managed to outperform not only Bitcoin but other indices too. This was due to the decoupling of small-cap assets from the rest of the market. The driving factors for coins like OmiseGo, Theta Token, and Icon were news about its development and even its listing on prominent exchanges. However, for the large-cap assets, the investors were too occupied by the imminent pressure in the bitcoin market.

The correlation between the small-cap assets and Bitcoin has also been weakening. Small-cap asset, OmiseGo’s [OMG] correlation with BTC peaked in May 2020 at 0.8895 and currently stands at 0.7256. Thus, the small-cap assets were rallying independent of the ups and downs in the bitcoin market.

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Source: https://eng.ambcrypto.com/bitcoins-decoupling-and-reduced-correlation-enable-small-cap-asset-rally

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VeChain Crypto Hits YTD High in Latest Intraday Rally; What’s Next

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  • VeChain (VET) hit a year-to-date high (YTD) during the Friday trading session.
  • The 24th largest blockchain asset rose 8.57 percent to 114 sats, bringing its YTD gains up by more than 85 percent.
  • Nevertheless, the VET/BTC uptrend is showing signs of cooling off, albeit holding a string of dependable support levels underneath.

VeChain’s crypto token VET rose 8.57 percent on Friday to hit its year-to-date high at 114 sats.

Traders flocked to the 24th largest cryptocurrency due to unfound reasons. But its intraday rally coincided with a review from Early Metrics on VeChain’s potential as a startup.

Praises

The globally renowned rating agency called the blockchain company as one of the fastest-growing startups, praising its growth logic, market positioning, and operational implementation. The favorable review appeared as VeChain powered a drug traceability platform for Bayer China, one of the world’s largest pharmaceutical firms in late May 2020.

The word-of-mouth visibly helped VeChain’s native crypto asset VET painting an incredible rally on Thursday. The climb also came as a part of a 200 percent rebound from the token’s March 2020 lows.

The blockchain industry is still at its nascent stage. But traders anticipate specific projects to utilize the distributed ledger to its full potential. And when some of these startups receive recognition by existing tech firms, they tend to attract traders to purchase the asses that back their blockchains.

VET, it appears, rose on a similar sentiment.

VeChain Technical Outlook

Another reason why traders preferred to migrate their capital into the VeChain market is an annoying Bitcoin. The benchmark cryptocurrency stands stuck in a $1,000-wide trading range for the last three weeks. Meanwhile, its price moves this week remains capped inside a $5,00-range.

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VeChain breaking out of a Bullish Pennant. Source: TradingView.com

VET appears at an advantage against an underperforming Bitcoin. The crypto has just broken out of a Bullish Pennant structure that puts it en route to a fresh upside target towards 129-132 sats. Incidentally, the resistance area also coincides with the 78.6% Fibonacci level on the retracement from 158-high to 35-low.

The crypto token’s bullish bias is also gaining strength from a string of concrete support levels. At first, VET/BTC is trading above its 20-EMA (the green wave) and 50-SMA (the blue wave). Moreover, it is holding an incredible price floor at around 88 sats.

Despite the bullish signs, there remain risks of a downside correction as well, especially when Bitcoin starts rebuilding its upside scenario. Should that happen, VeChain would test all the support levels for a potential pullback.

Source: https://www.newsbtc.com/2020/07/03/vechain-hits-2020-high-intraday-rally/?utm_source=rss&utm_medium=rss&utm_campaign=vechain-hits-2020-high-intraday-rally

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