March 29, 2024

Project with 385% growth potential: time to buy Cardano?

Project with 385% growth potential: time to buy Cardano?

“The number of addresses active daily on the Cardano blockchain has fallen to a one-year low,” reports Santiment.

At the same time, according to experts, the price of ADA may return to growth in the near future, and FOMO around the project will increase. The reason is the VASIL fork, but not only.

Project with 385% growth potential: time to buy Cardano?

The price of ADA is now below $0.5, the extremethe rally was observed in January 2021 (to almost $1.6 dollars). The asset is down 2% of its value a month ago, 64% from a year ago, and 85% below the September 2021 highs:

Project with 385% growth potential: time to buy Cardano?

Cardano Long-Term (385% Potential Mid-Term Target & More)

Cardano has been down for over two and a half months now. Technical analysis shows that a rebound from current levels is quite possible.

In the first five months of last year, Cardano made +1.100%. Since then, the price has fallen by three quarters, but it is still up 150% from the end of 2020

Project with 385% growth potential: time to buy Cardano?

DeFi is growing on Cardano

For several months now, Cardano users have been able to farm on decentralized DEX exchanges, including SundaeSwap, Minswap, and the newly created one: Wingriders.

The peculiarity of the latest DEX is that users can continue to earn on their ADA while providing liquidity, thus profiting from multiple streams.

Project with 385% growth potential: time to buy Cardano?

There are several other long-awaited projectsCardano in DeFi, which are scheduled to launch in the 3rd quarter of this year. Likely after the upcoming VASIL hard fork, which is expected to improve the network and smart contract capabilities.

Here are some of the projects that are about to launch:

Liqwid is a protocol designed for lenders withopen source for developers; Ardana, a decentralized stablecoin hub; Djed, an algorithmic stablecoin guaranteed by cryptocurrencies; Genius Yield, an artificial intelligence liquidity management protocol; Maladex, a DEX that claims to have solved the problem of "periodic loss of liquidity"

On improving the scalability of the Cardano blockchain

Cardano developers plan to improve the scalability of the main protocol "by segmenting the core protocol without sacrificing decentralization or security":

Vasil hard fork aims to make a dramatic change to the Cardano blockchain: it will enable vertical and horizontal scaling in layers (VASIL)

Project with 385% growth potential: time to buy Cardano?

Charles Hoskinson, CEO of Input Output Hong Kong (IOHK), the company behind Cardano (ADA).

Cardano vs Ethereum

Given recentastronomical gas costs in Ethereum, sparked by the launch of the Otherside Metaverse, enthusiasm to explore alternatives to issuing NFTs with cheaper and more scalable potential has led many to Cardano.

Project with 385% growth potential: time to buy Cardano?

Otherside's sales included a total ofcomplexity of 55,000 NFT lots at a fixed price of 305 ApeCoin ($4,200 USD), a cryptocurrency created by Yuga Labs. Another 45,000 lots were distributed free of charge to owners of the Bored Ape Yacht Club collection. [Interestingly, footballer Neymar received his items in the game Otherside, as he is known to be an honorary member of the Bored Ape Yacht Club. ed]

Project with 385% growth potential: time to buy Cardano?

Revoland is an esports game based on Blockchain. You can gather your friends, form a team, fight against others and earn

Project with 385% growth potential: time to buy Cardano?

Snoop Dogg and his son, known as Champ Medici, are collaborating with Cardano NFT project Clay Nation, co-creating iconic claymation animations and tokenized music content.

Cardano final update: VASIL hard fork

Project with 385% growth potential: time to buy Cardano?

We are pleased to announce that the IOG team has successfully tagged and released the #Cardano 1.35.0 node, which becomes the final release candidate for the Vasil fork network

— @InputOutputHK June 25, 2022

This news led to an increase in the price from $0.46 to $0.52; in the following days the price of ADA adjusted:

Project with 385% growth potential: time to buy Cardano?

ADA Price Currently ($0.45 / -3.84%)

The developers associate the increase in the market value of the project with the growth of new Cardano tools in DeFi. The improved blockchain aims to increase the number of dApp developers.

Cardano's TVL Potential Currentlydetermined to be in 27th place, according to DeFiLlama data, behind the Celo, Fusion, Moonbeam and Heco protocols. At the same time, ADA is the seventh largest cryptocurrency by capitalization (more than $18 billion).

It is worth noting that ADA turned out to be one of thosecryptocurrencies, whose rate reacted most stably to the fall of Terra. Now experts are counting on the price of ADA to rise above $1. Buy ADA on the Phemex exchange.

According to the latest information, the Vasil hard fork is scheduled for the end of July 2022, the exact date has not yet been announced. Official Twitter page for developer Charles Hoskinson.

Project with 385% growth potential: time to buy Cardano?

Where to buy Cardano (ADA) – Binance, Bybit, Phemex