After Ethereum, Cardano (ADA) is currently the second most powerful smart contract platform. Demand for its ecosystem is growing among users of social networks. It is one of the largest players in the cryptocurrency market. Will 2022 be a promising year for this cryptocurrency? Will its price reach 3 dollars as some have predicted?
Cardano is the second largest smart contract platform
Only Ethereum is ahead of Cardano in capitalization. What is the basis for such a bullish sequence and its success for this ecosystem? Marcos Vinicius, the project’s global ambassador, says the advent of NFTs, or non – mungible signals, contributes significantly to the development of the ecosystem. In fact, in the community, the NFT is a native signal by ASA standards. Therefore, it is not considered a smart contract.
Cardano has a blockchain containing ADA signals, NFTs, and fungal signals. They have the same status within the blockchain. They were launched in early March 2021. As a result, NFT collections increased tenfold. Consumers buy them and then dump them in some wallets. So, they have the opportunity to buy some NFTs. Moreover, thanks to this phenomenon, the activity of staking has increased sharply.
Charles Hoskinson launches Cardano and his project on social networks
LunaShark highlights Cardano’s success over the past two years. The ecosystem received 14.77 million references, an increase of 2650%. These references globally relate to the variations in ADA price. However, users are not only interested in the price of its token. The references are directly related to the ads as well as the project news.
Moreover, such traffic is generated by Charles Hoskinson, its founder in person. The latter usually makes public comments on social networks. Charles Hoskinson in particular opened a lively conversation about the fall of Terra. He talked a lot about the UST losing its peg to the dollar. He then contacted stablecoins in general, concluding with more details about Cardano’s own stablecoin, Djed.
This appearance took place on Twitter on 11 May 2022. On that day, the number of visits as well as social engagement increased.
Conclusion
The prosperity of the Cardano community began in 2021, although the development phases of the entire project are not complete. Recently, the ecosystem has managed to attract the attention of investors, and the project is widely cited on social networks. This is a sign that this blockchain is entering the big leagues in the world of cryptocurrencies. Don’t forget either, the Vasil hard fork should see the light of day in June. An important change that can get people talking about the project on social networks. Let us expect the Cardano and Charles Hoskinson project to continue this enthusiasm over time.
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Emile Stantina
Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was evident. The blockchain is definitely the universal tool of tomorrow.
