Cardano (ADA) is on a roll! Often criticized as being slow in product development, or being just a ‘white paper’, Cardano had previously fallen down from its All-Time-High of $1.18 to a meager $0.028, a fall of ~97.5%. That also resulted in Cardano moving out of the top 10 in terms of market cap. Now, things are turning around, Cardano is surging, but why?
The 2017 bull run can be attributed mostly to speculation, fueled by FOMO. With the bubble bursting, sailing through the prolonged bear market, only projects with strong fundamentals sustained. Now Cardano is back in the Top 10. 2019 could be Cardano’s year.
What is Cardano?
As per Cardano’s website, ‘Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach’.
Cardano 3 month price movement
Cardano has taken massive leaps in the last few days and is hovering around $0.06 today.
Contributors to Cardano’s price movement
With the addition of Stellar XLM to U.S.-based cryptocurrency exchange Coinbase, investors are now aiming for Cardano (ADA) to be next.
On March 20th, Cardano deployed Cardano 1.5 Mainnet. This is the most important update for Cardano before moving into the Shelley Phase. With Cardano 1.5 Mainnet, the project shifts from “Ouroboros Classic,” to “Ouroboros BFT (Byzantine fault tolerance), before moving to the final consensus algorithm, “Ouroboros Genesis.”
The release was successful with minor bugs, which was fixed quickly.
Cardano 1.5 has been released to the mainnet today! Daedalus users need to upgrade to Cardano 1.5 by installing Daedalus 0.13.0 by following prompts in Daedalus. For more information, check out the announcement here: https://t.co/Zfxcz2GjRJ
— Cardano Foundation (@CardanoStiftung) March 20, 2019
- Positive outlook in Weiss Ratings:
On 25th March (and later on 27th March) the popular Weiss Ratings gave a positive outlook to Cardano. It has included Cardano in its list of Top 5 Cryptocurrencies.
— Weiss Ratings (@WeissRatings) March 25, 2019
- ADA pair announcement by Binance:
On 26th March Binance announced that it was adding ADA/PAX and ADA/USDC trading pairs.
- Integration with Ledger’s Nano S in Yoroi Wallet!
On 27th March @emurgo_io tweeted that Cardano (Ada) is officially integrating with Ledger’s Nano S
Exciting News! Cardano (ADA) is now fully integrated with Ledger's Nano S in Yoroi Wallet! ⚡️#ADApters, share the news!
Read more here:https://t.co/5a9Dk4EIuE
— EMURGO (@emurgo_io) March 27, 2019
- IOHK Summit
IOHK Summit is the Woodstock of Cardano Community. Announced to be held in Miami from 17th of April till 28th of April, 2019, the community is expecting some major announcements, which includes a new Road Map, which will carry forward Cardano’s current Vision to the next level.
The Cardano community is eagerly waiting for the transition from Byron Phase to Shelley Phase. As per Cardano’s roadmap, Shelley is focused on ensuring that key elements are in place so that the technology grows into a fully decentralized and autonomous system. In 2019, the features of Shelley will be released, starting with delegation and stake pool testnets.
- Accumulation for the Staking era
Shelley will bring with it the Cardano Staking era. Considering the future potential of Cardano, the bear market is an ideal phase to accumulate ADA, which can be used in staking to earn rewards.
What is your opinion? Leave a comment below!