- Cardano’s founder, Charles Hoskinson, declares real adoption of Cardano amid negative economic conditions.
- Cardano’s Total Value Locked (TVL) surged by 148% from January to June 2023, indicating growing adoption.
- Cardano’s ADA coin may see a 1000% surge, mirroring its 2021 skyrocketing pump, amidst ongoing development and partnerships.
Despite enduring challenging economic and regulatory climates, the Cardano blockchain is experiencing bona fide adoption. Charles Hoskinson, the brainchild behind this advanced smart-contract platform, made this revelation, hinting at the burgeoning Total Value Locked (TVL) within the network as evidence of this phenomenon.
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In a comparison with Bitcoin, Hoskinson shed light on the organic and decentralized growth of the Cardano ecosystem. He dismissed skepticism surrounding network centralization and lack of institutional interest, stating, “Lots of noise in crypto. Look for the signal. Cardano is getting real adoption and growing as an ecosystem under the harshest conditions our industry knows. Like Bitcoin, this is being done in a completely decentralized way.”
This remark followed a tweet from community member Chris O, lauding Cardano’s growth relative to other leading blockchains like Ethereum, BNB Smart Chain, and Polygon. Chris specifically underscored Cardano’s rate of expansion within the decentralized finance (DeFi) realm, backed by a soaring TVL and marked interest from heavyweight institutions such as Grayscale, 21Shares, and WisdomTree.
From January to June 2023, Cardano’s TVL amplified by an impressive 148% – a figure unparalleled by any other blockchain network. As a testament to this growth, Cardano’s TVL catapulted from 265,000,000 ADA in January 2023 to a whopping 657,000,000 ADA by June of the same year, an undeniable signal of the project’s increasing attraction to both institutions and individuals.
Source: TradingView
Furthermore, Cardano’s network witnessed a monumental 1000% surge in September 2021, a trend attributable to the escalating adoption of its native currency, ADA, spurred by ceaseless network developments. Today, given Cardano’s track record and ongoing partnerships, ADA might be primed for a repeat performance. If this surge occurs, ADA’s trading price could elevate to a bullish $2.4 from its current position, all within a span of 214 days.
Nevertheless, such a forecast hinges on the overall behavior of Cardano’s community within the crypto market. At present, ADA trades at a respectable price of $0.27, boasting a 24-hour trading volume nearing $230 million. As the real adoption of Cardano continues to gain momentum, the potential of ADA to rewrite its own success story becomes increasingly feasible.
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