Cardano took the spotlight last year as the markets rallied. Cardano became a headline starter from upgrades, plans and events. However it quickly starting to become apparent that there where issues one of the biggest was the lack of any real profitable direction by the creators.
Cardano is Co-Founded by Charles Hoskinson and has a underlying groundwork from IO Global. In this article we will go over what is in the Vasil hardfork is and what these updates and information could mean for the blockchain and price.
During the boom of 2021 in crypto Cardano (ADA) Hit just shy of $3 a number of times. Since then the price has retracted back to where it stands today at just $0.94
*Image pulled from CoinGecko
It's still however holding strong for when you take the general markets in consideration of that time frame and the amount of ADA that is being minted at around 5% with nearly the full supply currently staked 23 billion of the 30 billion market cap. (This I should also say consider taking note of for when Ethereum switches to Proof of Stake that percent locked is over 50% or higher which will instantly reduce the liquid supply of Ethereum by a large amount)
This hardfork is slated to take place in June 2022 and be fully tested before the Cardano event HFC in June. (Yep, they do enjoy their events and hyping people up so also something to keep in mind on this tokens price)
This upgrade includes a key feature called Pipelining which is geared to be a huge improvement to the Cardano blockchains performance.
Pipelining sets the groundwork for Cardano to rapidly expand which is one of its key goals this year and moving into 2023. It's core aim is for faster and larger scale of transactions which is gearing it to be a major competitor for DeFi platforms later this year.
*Yes, DeFi is being primed on all levels to explode end of year and into 2023 so be ready for it. We have been stagnate on the TVL levels for some time now as DeFi systems get sorted out to be faster, cheaper and more secure.
It's also said that many DeFi platforms and networks are currently holding out and waiting for this update to go live to take advantage of its benefits before going live themselves. This year alone Cardano has gone from 1.7 million TVL to 261 million TVL which is a huge jump in a short 4 month time frame. This also makes one wonder what will happen when the next evolution of dapps launch on defi for Cardano on the optimized platform. I wouldn't expect most of them till early summer however 2-3 months as testing and development should take place before any of these platforms launch.
At first I don't expect a big run. The markets have been in what I would call a bear market/ recession themselves. However come late summer into October I do so far feel there will be another major bull run across the board that will again dwarf the rally of 2021. That two trillion market cap I see pushing it's way very close to a 10 trillion market cap thus increasing all prices on majors by at least 3x -5x max. That would put bitcoin at around $100,000 and Ethereum around $10,000 in 2023.
*This article is for entertainment purposes only and is not financial advice. Do your own research before investing and understand the risks before investing. Most of all take responsibility for your own actions.
What are you thoughts on Cardano ADA and it's future?
