Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

The vast majority of retail client accounts lose money when trading CFDs.

You should consider whether you can afford to take the high risk of losing your money.

Important Notice - Fraud awareness
Important Notice - Scam alert
54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Important Notice - Fraud awareness
Important Notice - Scam alert
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 54.76% of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
Important Notice - Fraud awareness
Important Notice - Scam alert
The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail investor accounts lose money when trading CFDs / Spread betting with this provider. You should consider whether you understand how CFDs / Spread betting work and whether you can afford to take the high risk of losing your money.
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Cardano (ADA) approved payment mode of over 7 million businesses

In recent weeks, Cardano developers undertook a Vasil network upgrade to expand the Cardano network and increase the number of transactions carried out on the web. Ever since the upgrade, Cardano (ADA) became recognized and accepted as a mode of payment by over 7 million businesses.

The COTI network team revealed this development news. They shared on their official Twitter handle yesterday that the ADA pay Plug-in is now live on ODOO. E-commerce businesses willing to receive ADA as a payment method can add the Cardano payment plug-in to enable them to do so quickly.

This is a commendable development from the Cardano developers as it opened the path towards integrating the Cardano Coin as a new payment method for all e-commerce businesses today.

The Cardano pay Plug-in has been developed as part of the COTI's Project Catalyst Challenge, launched for ODOO medium-sized businesses.

ODOO initiative is an open-source solution for business applications with more than seven million users, from small to large business enterprises. Thus, ODOO is an acronym itself for "On-Demand Open Object." Cardano can now act as a mode of payment for any e-commerce enterprise desiring to integrate and make payments with the coin. This is hugely positive news for Cardano, targeted towards increasing its overall users and general acceptability.

The COTI team invited several other business owners to create the ADA pay plug-in solution and integrate it into their platforms as payment.

Cardano has hitherto been the seventh most valuable cryptocurrency. However, this recent development can push it forward to be among the top three most important cryptocurrencies. Cardano, within 24 hours upon completion of the new integration, topped the list as one of the top ten most purchased tokens among the 4000 most significant Binance Smart Contract (BSC) projects.

Over the long term, the impact of this recent adoption of Cardano as a means of payment for most e-commerce businesses will increase the demand for the coin and positively impact its prices. This means we can expect a higher price target for the Cardano (ADA) in the long term.

The market price of Cardano during the Asian session today is $0.421. Analysts predict that this coin is capable of hitting $1.20 within the year 2022.

The price of Cardano is currently on the lower side, offering an excellent buying opportunity to investors and other e-commerce business owners. Notwithstanding the dip menacing the crypto market, Cardano prices are bullish and likely to take off at any moment.

How to buy Cardano (ADA)?

Cardano (ADA) can be traded as CFD on ATFX platforms. ATFX provides a safe environment for trading cryptocurrency CFDs, with a low spread and high leverage that increases the trader's profit margin when correct predictions are made. To trade Cardano (ADA) today, one must sign up for an account with ATFX through their website.

Last Updated: 13/07/2022

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.


 

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