Cardano Price Jumps 4% as it Hits New Transaction Milestone – Europe’s Right-wing Political Groups are Rallying Behind Crypto

ByPrateek Arora

Updated: 03 June 2023

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Cardano, the seventh biggest cryptocurrency in the world by CoinMarketCap, has jumped by 4% thanks to the revelation of the new transaction milestone.

Crypto User @TheOCcryptobro has stated that the token has done two million transactions in the last 24 days alone. That is largely due to a bunch of new developments, including the developments made on Conway Era, Marlowe going live on the mainnet, and more.

This uptick spells good days for a cryptocurrency project that many thought had underdelivered till last year.

In other news, Europe’s right-wing political group is rallying behind crypto. It stems from the right-wing ideology that emphasizes individual freedom and minimum government intervention.

Read on as we discuss both these pieces of news and their wider implications on the cryptocurrency space.

With Over 1245 Projects Being Developed – Cardano is Keeping Up Pace

Cardano was billed to be the Ethereum alternative, providing a cheaper and faster way to develop projects and conduct transactions. However, the project’s value and its motivation to continue to deliver seemed to have been slowed down last year as there were not more than a handful of projects to speak of.

But the rapid 2x increase in the Bitcoin price has energized the entire cryptocurrency project, it seems, as the protocol has delivered 1245 projects this month alone.

One after another, this project is launching multiple dApps, the latest one being the Marlowe contract platform that bolstered the community’s sentiments toward this project.

In the last month alone, multiple tokens have been launched on Cardano, most likely because of the Marlowe launch. Till now, the network reports over 67.8 million transactions, 2 million in the last 28 days alone.

Upgrades and Exchange Support Pushing Cardano Up

Cardano’s penchant for innovation and delivering on its promises has led many parties to take notice. The recent innovative push by the world’s seventh largest crypto has gained the attention of the world’s biggest cryptocurrency exchange. Coingape has reported that Binance has announced the arrival of ADA/TUSD and LTC/TUSD pairs.

Cardano is continually pushing forward with the tech upgrades that it mentioned in its official roadmap. Its focus on scalability became apparent to the crypto community with the arrival of the Hydra Head Protocol.

Hydra Head protocol is an open source solution for scalability on cardano. It establishes an open source framework for creating off-chain ledgers and can help developers use the blockchain more efficiently.

Another reason behind the community’s positive sentiment regarding this asset is SEC’s antagonistic attitude towards staking activities. That alone has painted Cardano as a better alternative due to it providing liquid staking.

Europe’s Right-Wing Politicians Are Bullish About Cryptocurrencies

The core of cryptocurrencies has always been about personal and financial freedom and minimum government intervention. It seems that the same mantra lies behind the guiding principles behind Europe’s right-wing ideologies.

These politicians, thanks to the decentralized nature of crypto, are bullish about the financial sovereignty it provides that allows individuals to have complete control over their money without having the government bodies interfere.

Such inclination towards cryptocurrencies seems to have escalated due to the recent troubles that Western banks have started to face.

These instances have fuelled positive sentiments towards crypto, with many politicians in Germany inclined to consider Bitcoin as an alternative for Germany.

Alternative of Germany (AfD) is a right-wing populist group headed by Alice Weidel, who, through her own admission, is a Bitcoin entrepreneur who once sought to launch a Bitcoin startup. She, along with Aaron Keonig, presented their views on Bitcoin at Bitcoin conferences as “money without a state”.

But German right-wing politicians aren’t the only ones batting for blockchain technology and Bitcoin. Leaders of Dutch right-wing parties, like the Party for Freedom and the Forum of Democracy, also have positive things to say about this technology.

Leader of Forum of Democracy, Thierry Baudet, even seeks to transform the Netherlands into a Bitcoin hub and has released two NFT series to mark his fight against the World Economic Forum’s (WEF) founder Klaus Schwab.

According to Thierry, the World Economic Forum poses a serious threat to individual freedom and, with its recent laws regarding crypto, is pushing the world in the wrong direction.

Other right-wing politicians like Jaroslaw Gowin have also had positive things to say about cryptocurrencies. But these aren’t mere words of admiration. The Middle East Media Research Institute (MEMRI) reported that right-wing extremists are relying on cryptocurrency payments.

Conclusions

These two pieces of news show us that the cryptocurrency market is getting more supporters by the day. Cardano’s recent uptick showcases that we finally have a project that’s moving headway toward what it promised in its roadmap. And with reports coming in from Europe about right-wing parties’ support for Bitcoin, regulatory bodies may take a positive stance towards crypto soon.

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