ADA (Cardano) Continues To Evolve

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ADA (Cardano) Continues To Evolve

ADA has taken the spotlight recently as being now the third largest market cap coin at 88 billion dollars. 88 Billion sounds like a lot but it still pushes it far away from Ethereum at 377 billion or bitcoin as 915 billion in market cap.

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Continued Evolution

One of the most prominent things when I look into investing into a cryptocurrency or project is that it has a team that is both capable and has a drive to continue to roll out new features. A stagnate business is a dying business so evolution and development needs to constantly be happening.

ADA has recently had advancements that have greatly improved it's price but now it's ready for another big time update.

The Next Cardano Update

Cardano is looking to get a new side chain which will be wrapped ADA called wADA. This side chain will be of the Ethereum network and allow for the assets to pay for transaction fees. There are also plans to pair up with other side chains such as Solana and other layer one networks.

ADA is a layer 1 blockchain in itself. By creating side chains that now integrate directly into other layer 1 blockchains it becomes a smart and logical move instead of teaming up with any layer 2 chains.

This is a very smart move by the team as blockchains need to be able to work with each other instead of be in a competition stance at least for right now. By piggy backing off of the success of other chains and offering quick cost effective solutions for issues that are currently on the layer 1 chains it allows for it to become a center bug for ALL chains instead of putting up a major barrier of competition.

This also greatly opens up ADA to more robust smart contracts and one of the largest platforms for DeFi and NFTs that despite all of the news articles saying has been on a decline has actually INCREASED over the last few months at a record breaking pace. This is why it's important to look at the numbers and not news headlines when investing. The numbers and data will paint the clear picture of what's going on.

This update will happen shortly after the new hardfork named Alonzo which is slated for September 12th but most of the times these updates get pushed back by another day or two which will most likely land us mid September.

Posted Using LeoFinance Beta

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10 comments
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Due to Cardana being mostly untested, I plan on selling half my ada before the drop.

I'm going to move it into polygon or Sol that still has room to grow.

I have no idea if this is good planning or bad planning, but it is what I am going to do.

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Could be a very good idea it is a new baby in the crypto space so a lot of it right now most likely is due to the hype of it going to be connected into Ethereum. Most likely would see a sell off before another recovery after things are running with the new sidechain etc.

Poly and Sol two other great choices as those are the others on my radar right now.

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Ada already being 3rd in market shares, leaves me feeling like the growth will continue, but slow for a bit.

The drop is already priced in. If upgrade doesn't meet expectations. Big dump coming.

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That's a good one.This new innovation will make ADA to have value.ADA will continue to be in bullish trend,if this innovation takes place.It will be at the peak.

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Cardano is a project that I am very much confident in and I believe that it will stand the test of time . The integration of smart contract come September will help the project grow . Despite predictions of a possible correction , the price of the coin has been able to stay above $2.50 .

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