According to Charles Hoskinson, founder of the Cardano blockchain, the events of the last few hours around the fall in the price of FTT, FTX’s native token, and the problems facing the exchange could close the crypto winter.
For the leader, the market “has hit rock bottom, ” which can only promote a return to the top.
FTX Calamity Could Be the Last Crisis of the Bear Market, Says Cardano’s Hoskinson
Note that the ADA, Cardano’s native token, has fallen recently and is currently trading at $0.36. It is down 88% from its September 2021 ATH at $3.09.
Cardano Price Prediction (ADA) in the medium term
Cardano may rise above $1 at the end of the crypto winter of 2022.
Long-term Cardano Price Prediction (ADA)
Cardano could reach $2 by the end of 2023, with a general rise in the entire cryptocurrency market.
Opinion on the Cardano project
Cardano was among the most active blockchain networks of 2022. Despite the drop in the price of ADA crypto, the network remains highly coveted.
What affects the value of Cardano (ADA)?
- The Vasil hard fork
- Important network upgrades
- Significant developments concerning Charles Hoskinson (CEO)
What is Cardano (ADA)?
According to its founder Charles Hoskinson, Cardano is an open platform that aims to provide economic identity to the billions of people who lack it by offering decentralized applications to manage identity, value and governance (management).
The network was created to create a “more balanced and long-term ecosystem” for cryptocurrencies. Cardano started as a research project and has now evolved into a full-fledged blockchain platform.
The creators of Ethereum believed that intelligent contract blockchains, like Ethereum, were plagued by scalability and interoperability issues. The only way to solve these problems was to create a new platform based on the Proof of Stake consensus mechanism.
Cardano is considered the first 3rd generation blockchain, with Bitcoin being the first and Ethereum the second.
How does Cardano work?
Cardano offers several features: intelligent contracts, DeFi platforms, and NFT platforms. The network’s native cryptocurrency is at the centre of this ecosystem. It can also be traded on cryptocurrency exchanges.