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HomeNewsCardano's First Oracle Integrator Launches - Can it Drive ADA Price to...

Cardano’s First Oracle Integrator Launches – Can it Drive ADA Price to $0,50?

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  • Charli3, Cardano’s first oracle integrator, was launched on April 6.
  • Despite this development, ADA prices have remained lackluster.

Cardano has achieved a major milestone with the launch of its first oracle integrator, Charli3, on April 6. Charli3 provides a decentralized node network that allows projects to supply secure and safe data to their platforms and users. It can be viewed as the Cardano version of Chainlink.

Liqwid, a leading DeFi project on Cardano, has integrated the platform’s oracles, which could create more on-chain opportunities for new projects to secure trust in the ecosystem. However, despite this development, ADA prices have remained lackluster, struggling to top $0.40.

Charli3: A Major Milestone for Cardano

According to Liqwid co-founder Dewayne Cameron, the launch of Charli3 is a major milestone for Cardano’s continuous push towards full decentralization. Charli3 is now capable of producing accurate on-chain oracle feeds, such as prices for SHEN/ADA, with ADA/USD being the next oracle price feed to be integrated. Liqwid will use the oracles for calculations to create new loans, update collateral values, and initiate liquidations for under-collateralized loans.

ADA Prices Remain Low Despite Developments

Despite the launch of Charli3, ADA prices have not reacted much over the past couple of months, struggling to top $0.40. At the time of writing, ADA is down 1.7% on the day, trading at $0.38, according to CoinGecko. While the asset has gained around 15% over the past month, it is still way behind Bitcoin and Ethereum in terms of price increases. Furthermore, ADA is still a painful 87% down from its September 2021 all-time high, whereas other crypto assets are starting to recover.

In conclusion, the launch of Charli3 is a significant development for Cardano, but it hasn’t translated into a surge in ADA prices. However, the integration of oracles on Cardano’s blockchain could create more on-chain opportunities for new projects to secure trust in the ecosystem.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628
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