Hoskinson Plans A Tour In Africa, Cardano ADA Price Trades Sideways
After launching smart contracts capability on the network, Cardano’s next goal was getting developers to deploy their applications on the ecosystem, especially eyeing Africa as a geo target.
Through EMURGO, Cardano has invested in various startup projects to boost the adoption of the blockchain. The project has set its sights on Africa for a while, a budding hub for cryptocurrency innovation. It plans to give the projects the needed boost to bring their projects to the ecosystem.
EMURGO US$100 Million Investment In African Startups
One of the biggest announcements from the Cardano Summit concluded in September was the $100 million investment in Cardano-focused projects by EMURGO. The commercial arm of the Cardano Foundation had made significant investments into a number of startups that were domiciled in Africa. These startups would receive support in varying degrees, from financial to educational as the need arose.
Seed investment rounds of companies Milkomeda, ADAVERSE, and Adanian all saw participation from the Cardano network through EMURGO. Some of these projects were incubators for other Cardano-focused projects. While Milkomeda is a dcSpark sidechain that provided a bridge between the Cardano blockchain and other layer blockchain protocols.
Hoskinson Planning Africa Tour
Charles Hoskinson has had his eyes on Africa as a geo target for a while. He tweeted about the future plans.
“Just got back from Wyoming and I’m ready for this upcoming week. Heading to Africa soon- starting in South Africa all the way up to Egypt. Let’s go change the world together”
Just got back from Wyoming and I'm ready for this upcoming week. Heading to Africa soon- starting in South Africa all the way up to Egypt. Let's go change the world together pic.twitter.com/a0qVd2wPd1
The founder announced the plans for the Africa tour, alongside the tweet announcing his vacation. He plans to meet with the startups building on the Cardano network and with help from his team, provide what they might need in way of financial or educational help.
ADA Price
Cardano’s native token ADA has been on a slight downtrend, despite many news coming out from the project. Momentum remains down for the digital asset, not following the general upward trend of the market.
ADA/USD Source: CoinMarketCap / tradingview
With bitcoin rallying this week, altcoins have moved in tandem with the leading cryptocurrency. Speculations were that the revived momentum in the broader crypto market would provide the push needed to get ADA back to its previous highs. But so far, the asset has not made any significant recoveries. Instead, it continues float above $2, currently trading at a low $2.147 at the time of writing.
