Cardano reveals the progress of the Zanzibar interconnection plan while the ADA price is at the critical limit

The Cardano developers at IOHK in collaboration with World Mobile have one Video document the progress made in implementing the plan to connect the Zanzibar Islands from Tanzania.

The partnership with the Tanzanian government was first announced at the end of April as part of the “Cardano Africa Special” program. The video shows how the plan has made great strides in building and expanding the Internet infrastructure in Zanzibar, where Cardano is tasked with providing the digital identity.

Atala Prism is a decentralized identity solution that builds on Cardano and enables users to securely communicate with companies in order to review digital records without the intervention of third parties such as banks, financial companies and other advanced applications such as medical records and voting systems.

Charles Hoskinson, CEO of IOHK, said the world is changing and the way things used to be done is “catching up”. And not on the orders of powerful or superpowers, but by individuals regardless of their place of residence.

“The reality is that everything is ready now. The whole world is being rewritten, not America, not Europe, not China, everyone is rewriting it together, no matter where they come from … “

ADA needs to break this resistance to ensure recovery and peak

Having stayed below the deplorable resistance of $ 2.28 for nearly 40 days so far, ADA appears to be trying to break it. While the ADA has tried this many times, it has not gotten the results it was looking for. However, with the broader market currently bullish, there is an opportunity for ADA to regain its glory.

4-Hour ADA Price Chart | Source: TradingView

If you look at the charts it becomes clear that ADA is way better in November than October, and the uptrend over the past 24 hours with ADA up 2.77% will really add to breakouts.

In the past 2 months, most ADA investors have been disappointed as more than 45% of the addresses on the network have lost money.

Number of profitable ADA addresses | The source: In the block

Concerned about these situations, they began to leave the market. The number of addresses with ADA has been rising steadily for a long time, but within just one week more than 1 million investors left the market.

In addition to the fear of loss, most investors have the ADA HODLing, which is currently leading to an increase in the number of medium-term owners (MTH).

Eventually, they may also see an opportunity to reclaim what was lost and people with over 150 million active sell orders taking profits while others buy back in the hopes that the price will continue to rise.

ADA buy / sell orders | The source: Coinlyze

On the positive side, this will also affect the Bitcoin – ADA correlation and it goes as expected. ADA’s correlation with BTC fell to a weekly low but is now recovering.

Correlation between Bitcoin – ADA | Source: Intotheblock

So keep in mind that $ 2.28 is the point that the ADA rally can make or break. Cardano recently overtook Solana and regained fourth place in market cap. So as soon as the price closes above USD 2.28, strong positive movements can be expected in the coming days and weeks. However, if that doesn’t happen, Solana Cardano will push back to 5th place.

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