Cardano Founder Unveils Smart Contract for Asset Recovery
- Asset Recovery Innovation: Charles Hoskinson, founder of Cardano, has introduced an experimental smart contract design aimed at assisting users in recovering assets when they lose access to self-custodied wallets, enabling wallet ownership verification without exposing the recovery phrase.
- Zero Knowledge Proof Application: The design allows users to prove possession of the 24-word recovery phrase for a lost wallet by providing a zero knowledge proof, which facilitates the release of ADA and Cardano Native Tokens from a predefined recovery pool, ensuring privacy and security in the asset recovery process.
- Ongoing Development Amid Market Pressure: Despite market pressures, Hoskinson emphasized that the project remains in the testing phase and plans to collaborate with Quantumplation, Sebastien Guillemot, and the Midnight team to advance privacy-first solutions within the ecosystem.
- On-Chain Activity Surge: According to Santiment, the daily number of active addresses on the Cardano network has risen to approximately 29,025, indicating renewed community interest in the ecosystem, although market sentiment remains cautious.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 2 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00667 | 0.0121 | 0.0163 | 0.0217 | 0.0259 | 0.0313 | 0.0355 |
| Fibonacci | 0.0121 | 0.0158 | 0.0181 | 0.0217 | 0.0254 | 0.0277 | 0.0313 |
About AI
About the author
