- Citaldoc shared a screenshot showing a test transaction of 10,000 ADA successfully processed by Cardano’s ADA testing network.
- ADA’s MVRV Z-Score shows that the cryptocurrency is currently undervalued and likely to see price jump here onwards.
The developments in the Cardano ecosystem have set the blockchain for hosting real-life applications and use cases. One of Latin America’s dominant telemedicine applications Citaldoc is now testing to incorporate ADA payments into its platform.
As of now, Citladoc has more than 100,000 patients to its name in a space that has over 650,000 to offer. As per the statement on its Twitter account, Citaldoc has already tested its first ADA payment on its telemedicine platform. They further shared a screenshot showing a test transaction of 10,000 ADA successfully processed by Cardano’s ADA testing network. This transaction occurred at a very negligible fee of 0.0017 percent fee.
We are getting emotional right now🥺💙
First #ADA transaction in our telemedicine platform 📲#CardanoCommunity@IOHK_Charles @Cardano pic.twitter.com/HuYKEbxqZr
— Citaldoc (@Citaldoc) October 21, 2022
Representatives at Citaldoc highlighted this milestone as “emotional” adding that the crypto integration will play a key role in Citaldoc’s accessibility to potential and existing clients. Cardano is eyeing a big push in the Latin American market. Amid Binance’s recent partnership with the users, its card users will be able to seamlessly purchase crypto here.
The development with Citaldoc is the latest addition to Cardano’s community-driven incubator Project Catalyst. The proposal of integrating Cardano’s native token ADA along with the algorithmic stablecoin Djed (DJED) in telemedicine in the Help2Health project.
As per Citaldoc, nearly $1 million in ADA tokens will be enough to adopt the next phase of market crypto adoption in telemedicine. Currently, Citaldoc offers its services to more than 10,000 clients in e-health, telemedicine, and pharmaceutical industries.
Cardano’s ADA is undervalued
The on-chain indicators for the Cardano blockchain network show that the ADA price is currently largely undervalued. Cardano’s ADA has been showing some volatility recently. As of press time, ADA is trading at $0.35 and continues to be among the top ten cryptocurrencies by market cap. On-chain data provider Santiment reported:
Cardano now sits at its lowest relative position compared to its realized value since Jan, 2019. This is a sign of undervaluation based on average trader losses. $ADA‘s price doubled the following 3 months the last time its MVRV Z-Score hit this level.
Courtesy: Santiment
Cardano unveiled its much-awaited Vasil upgrade in September. However, the ADA price hasn’t shown enough price movement since and a major bull run in this regard is lagging. Besides, Cardano founder Charles Hoskinson recently teased the community with something special coming ahead in November.
Something special is coming in November pic.twitter.com/arqIPdt8yT
— Charles Hoskinson (@IOHK_Charles) October 22, 2022
On the other hand, one of the largest crypto exchanges FTX is planning to add a trading pair for Cardano’s native token ADA. These developments could like give some boost to the ADA price in the months ahead in Q4.
Lastly, Cardano developers are working on the very important Layer-2 scalability platform Hydra. With Hydra, Cardano has set an ambitious goal of hitting 1 million transactions per second.
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