The Berlin Hackathon organized by NMKR, an NFT and asset tokenization service, in collaboration with EMURGO, Cardano Foundation, and Input Output Global (IOG), could potentially spark a rally for ADA, the tenth-largest cryptocurrency. This hackathon aimed to bring together builders and developers to collaborate and innovate for Cardano’s Web3 ecosystem. The event was the result of a proposal submitted by Project Catalyst, a decentralized community funding program on the blockchain. Held in Berlin, Germany, the in-person hackathon offered free registration to participants interested in building on the Cardano blockchain, regardless of their technical background.
Solo developers were encouraged to participate in the hackathon to showcase their work and gain exposure to the community. A prize pool was set up for participants in the form of ADA tokens. Prominent figures in the digital asset space provided feedback and input after witnessing the demonstrations by the participants. The hackathon took place from July 26 to July 27, highlighting Cardano’s focus on bringing new use cases and applications to the blockchain. The event aimed to foster innovation and collaboration within the Cardano community.
As of the time of writing, the price of ADA stands at $0.4227, with a 2.75% increase in the past 24 hours. The trading volume has decreased by 32.19% to $301 million during the same period. The cryptocurrency’s market cap is currently at $15.17 billion. The Relative Strength Index (RSI) for ADA is at 52.54, indicating high buying pressure. The gradient of the RSI line suggests the possibility of higher prices in the near future, with a potential bullish move towards $0.5.
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