Quote of the Day

“Let us celebrate the occasion with wine and sweet words.”

― Plautus

The Zombie Chains NFT drop went really well! Thank you to everyone that participated in the drop and joined our growing community!

It is a occasion to celebrate and celebrate we will. The team will drink some wine, beer, and other beverages and we’d like to share some sweet words with all of you…

You’re all amazing and we appreciate you supporting the work that we do - it’s so wonderful to be able to use our creativity and passions to bring you ideas and digital collectibles that you enjoy. Thank you!

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In The News

1. Democratic Senator Joe Machin called his parties plans to require reporting of transactions greater than $600 “screwed up.”

   He’s absolutely right and it seems like sanity may prevail and it may be removed from the final version of the bill. Let’s hope so. Do you want to government watching EVERYTHING you do with your money? I don’t.

2. Charles Hoskinson’s trip through Africa continues! When one user commented that they thought the agreement was done in February/March, Charles responded with “Scaling up.” Five million educational credentials on Cardano sounds great. It’s just the start.

Charles Hoskinson @IOHK_Charles

Dropped by the MOE today to discuss the digital transformation of Ethiopia's educational credentials. Five million students on schedule

October 28th 2021

1,456 Retweets8,315 Likes

Cardano Updates

1. Zombie Chains had an incredible launch! All 10k Zombie NFTs sold out in about 8 hours and there has been very high demand for Zombies in secondary markets since then.

   More importantly, an incredible community has developed around the project and we’ve met so many wonderful supporters of the project as a result.

   Thank you to everyone that participated in the drop! If you’d like to stay in touch with the project, please follow Zombie Chains on Twitter or join the Discord!

2. Project Catalyst Fund 6 voting results have been released! Check out this thread for more information on the results and to see if the projects you voted for received funding.

   Input Output @InputOutputHK

   ICYMI: It's official. #Cardano #ProjectCatalyst Fund6 voting results are in! 👉See the approved tally results PDF via this link: bit.ly/2ZrnBCa TLDR: 👉151 proposals funded & 21 community challenges selected 👉±292,000 total votes cast & ±44,500 wallets registeredProject Catalyst - Fund6 - Voting Results (official)bit.ly

   October 29th 2021

   25 Retweets181 Likes

Technical Analysis / Price Discussion

If I’m being honest with myself, I think it’s likely Cardano ADA bounces around between $1.90 & $2.00 for a while. That’s because there hasn’t been much volume traded at that level.

The next most likely scenario is that markets blow through the 50D EMA, establish support there, and then move higher. I can easily see this happening too and think it’s just as likely as the first possibility above.

The other possibility is that Cardano ADA could drop lower and test the bottom of the Channel and prior levels that it tested from Feb - August between $1 & $2.

I think this is unlikely because of how much volume has been put in below $1.85, but it’s possible and is worth being aware of. If Cardano ADA would lose the Point of Control of that range - $1.25, that would be a bearish turn of events. Again, I’m not expecting it, but it’s worth being aware of.

The way Cardano ADA moves out of this low volume area will be telling for the months to come. I’m still expecting the Big Wave 5 I’ve been talking about for weeks.

This newsletter is for entertainment and educational purposes. I’m not a financial advisor and you should do your own research and consult a financial advisor before investing in cryptocurrencies.

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