Hoskinson Reveals a Cozy Cardano-Inspired Hotel in BarcelonaFor crypto explorers looking for something more ‘tangible’, there’s great news. A hotel in the heart of Catalonia now supports (ADA) as a form of payment. As Austin, Texas played host to one of the biggest crypto and Web 3.0 events, ‘Consensus 2022‘, Charles Hoskinson, the founder of Cardano (ADA), decided to make that the stage on which he issued the first-ever invitations to a crypto hotel.
Hey #Cardano community…Anybody coming to #Barcelona this summer?The doors are always open, we ll show you around the place…#CardanoCommunity pic.twitter.com/X3kUgcugSV
— Cardano Hotel Ginebra Barcelona (@thecardanohotel) June 24, 2022
A Hotel That Represents Cardano’s Vision
Alfred Moesker, the owner of Hotel Ginebra Barcelona, met Charles Hoskinson in a summit for IOG. Needless to say, IOG is one of the three companies behind the Cardano ecosystem. The other two being the Cardano Foundation and Emurgo.
The Cardano Foundation is situated in Switzerland, while Emurgo is a business entity in Japan, which is largely focused on researching means for the adoption of Cardano in the Asia Pacific region.
Alfred Moesker expressed his interest in the Cardano ecosystem and the concept of helping to “bank” three billion unbanked people. Hoskinson vividly describes the decisive moment the two met: “We’d never done that before, and we did. And he showed up, we had dinner together, and he said, “you know, I’m just gonna convert my hotel into a Cardano-themed hotel”. I was like, “oh sure”. Now, it is! There’s pictures and paintings. It’s called Hotel Cardano. You pay in $ADA!”
Cardano’s (ADA) Price Still Flunking
Hoskinson also revealed that Cardano is nearing the ‘Vasil’ hard fork—a highly anticipated moment for the network. The crypto community is seemingly rather positive about the Altcoin, with many members on the CoinMarketCap Estimate Tool predicting that the price of Cardano (ADA) will rise sharply following the Vasil hard fork.
Despite these positive developments for Cardano, the blockchain’s native coin, ADA, is still licking its wounds in the midst of the crypto winter. At press time, Cardano (ADA) is trading at $0.447149, which is a slight hourly increase of 1.4%. In contrast, ADA is down by 6.8% over the last 7 days, and has recorded a somewhat concerning 29.1% decline over the last 30 days.
Why You Should Care
Crypto is swiftly being adopted in the travel industry. XcelTrip is among the freshest booking agencies to enable payments with cryptos such as (SHIB).
Trading at $48,747 with a 1.1% profit in the past day, Bitcoin remains rangebound. The first crypto by market cap has been unable to break from the $45,500 to $49,500 channel in the last 7-days, but a combination of factors could increase volatility soon.
Related Reading | TA: Bitcoin Gains Momentum, Why Rally Isn’t Over Yet
NewsBTC has been reporting on the possibility of a short squeeze for Bitcoin. The recent price action was most likely the result of the post-crash as the market needed time to form a range, and institutions de-risked their positions.
Large players are now potentially sitting in big piles of cash and looking to front-run Bitcoin’s next trend. This moved seems likely to come at the end of December due to the massive number of options that will expire right before the start of 2022.
Investment firm QCP Capital is one of the defenders of the short squeeze thesis for BTC. During the past weeks, the firm has only seen their conviction on this theory strengthen as market participants continue to trade Bitcoin’s current channel.
Due to the increase in options selling, the reduction of liquidity during the holidays, and the complacency in the market, QCP Capital said:
We maintain our view that there will be a squeeze (likely to the topside) as liquidity thins out into the holidays and into 2022. If this happens, owning wings (far strikes options) would be very profitable.
Bitcoin To Break $100,000 In Q1 2022?
Other experts agree with QCP Capital’s thesis, such as the CEO and CIO at Three Arrows Capital Zhu Su. Admitting that he has “not owned this much” Bitcoin since Q4, 2020, before the cryptocurrency rally into $60,000, Su claimed “conditions for gamma squeeze are potent”.
When asked what the potential targets for Bitcoin in the next months and a short squeeze scenario are, and whether BTC’s price will be able to replicate last year 3x rally from $20,000 to $60,000, Zhu Su replied:
3x is harder given current mcaps. I think 45 to 90 is pretty doable next few weeks and then opens up 135 in q1-q2.
Related Reading | Bitcoin Drops To $46k As $44.2 Million In BTC Gets Dumped Within 1 Min
If volatility break in favor of the bulls in the days after Christmas as a result of a Santa Rally, as our Editorial Director Tony Spilotro wrote, traders could be looking at “an indicator for what may happen in the coming year”. Thus, why the next day will be decisive for BTC.