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Cardano Price Primed For 50% Jump As A Result Of This

Press Releases Crypto News Bitcoinist Cardano Price Primed For 50% Jump As A Result Of This

Cardano has seen its price plummet along with the crypto market as the bears continue to exert control over the space. This has seen the altcoin’s value lose multiple important support levels. But an end could be in sight for the struggles the digital asset has had to face.

Leading The Game In Development

The Cardano network continues to see a bubbling community of both stakeholders and developers, both of which could spell another recovery trend for its native token ADA. The blockchain has once again emerged in the top 3 for the network with the most developments.

According to the report from Santiment, Cardano is number 3 on the list of most developed assets, following behind Polkadot (DOT) and Kusama Network (KSM). This would also explain the recent Total Value Locked (TVL) milestone the network celebrated.

Back in July, the Cardano network crossed 700 million ADA staked across decentralized finance (DeFi) protocols. But the growth has not stopped there. As interest has risen, so has the TVL as the network crossed a new all-time high of over 740 million ADA staked on the network, DefiLlama data shows.

ADA locked crossed 740 million | Source: DefiLlama

Cardano has also solidified its position as one of the most dominant blockchain players given that it is one of the longest-running smart contracts blockchains with no downtimes. So these milestones could serve as a catalyst for increased usage of ADA, leading to a price surge.

Cardano founder Charles Hoskinson has also come forward to defend the network’s longevity. According to him, “No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaims we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay.”

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Author: Best Owie

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