Cardano Extends its Partnership with the Olympics: Can ADA Rise up?

It is important to note that the word “you” means “you”. Cardano Foundation has partnered with the Olympics committee to bring sports into blockchain technology. This collaboration is aimed at unlocking the potential of emerging technologies, such as AI and Internet of Things. It would increase institutional transparency and provide new engagement opportunities with athletes, coaches and support staff. Will the price of ADA increase now that Cardano has partnered with the Olympics?

If you want to know the truth, then it is important that you pay close attention to how things went after the announcement. ADA fell 5% after the Olympics Committee announced its partnership with Cardano. Price spikes were minimal to non-existent, and news didn’t lift altcoins. ADA now trades in the range of $0.16, and has a greater chance to go lower. No hype is being created about this partnership as traders believe that the Cardano Foundation has little to gain.

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Why ADA failed to rise despite Cardano’s Olympic Partnership?

It’s not the first time that hosting countries have spent a fortune on the Olympics. In this rapidly changing society, the entire sport has become irrelevant. Only countries with more medals are interested in watching the sport. Other countries just pass on it or scan the news before moving on. Cardano’s native token ADA has not moved the needle since the Olympics partnership.

The move to integrate sports with blockchain is laudable. However, it’s the business that is making investors skip it. Cardano won’t rise because of its partnership with the Olympics. However, ADA may. Cardano is separate from ADA, which is an altcoin that runs on the back of ADA.

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