Cardano Prediction 2023: Will Cardano reach 1 $ after the FTX Crash?
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2022 was less successful for Cardano from the ADA course side. But these price losses are understandable given the bear market. Nevertheless, the project hopes for a successful year 2023. The signs are not bad despite the low prices of ADA. Will Cardano Reach $1 After FTX Crash? Let’s see what ADA holds in this Cardano prediction.
Cardano 2022: How did ADA succeed?
In the boom year of 2021, the ADA price increased tremendously, and the Goguen phase of development was completed with the introduction of smart contracts. A year later, work on the scalability of the Cardano blockchain begins. This stage of development is called Basho and it started this year.
The first big step was Vasili’s upgrade. This significantly increases the transaction capacity of the Cardano blockchain. In addition, Cardano is developing the layer 2 scaling solution Hydra, which should also increase the speed massively again. At the end of 2022, the network took the first important steps to make the network highly scalable.
Cardano 2023: How will Cardano fare next year?
Despite the drop in ADA token prices, 2022 was a very exciting year for Cardano. Despite the usual delays, the network is still on an excellent path to potentially become the most technologically mature and successful blockchain in the future.
The year 2023 should bring the maturity of functions guaranteeing the massive scalability of the network. However, there are also other interesting projects planned for Cardano in the coming months.
What are the main Cardano projects in 2023?
At this year’s Cardano Summit, developer Emurgo recently announced that it will be developing its own stablecoin for early 2023. This is said to be USDA stablecoin. It is based on the well-known USDC (Circles USD-Coin). USDA allows users to convert their US dollars directly 1:1 and thereby participate in the Cardano DeFi system. The growth of DeFi in particular is one of Cardano’s most important goals, as the applications are still relatively small.
The algorithmically backed stablecoin DJED could be launched before the USDA. This should allow easy access to stable coins in the Cardano ecosystem. This would open up the possibility for the network to support decentralized payments in US dollars worldwide.
Another important project for 2023 is Cardano’s own privacy chain called Midnight. The developers have been working on this project in secret for the past few months. It is said to be a sidechain of Cardano which is said to have its own Token called Dust and anonymously executed smart contracts. This privacy chain should also include potential access by regulators without violating user privacy.
How can those projects affect Cardano Prediction?
In 2022, the ADA token lost massive value. However, this was due to general market performance with a strong bear market. However, the year 2023 could be more positive for the ADA course again.
On the other hand, the mentioned developments are promising and may once again attract many new investors to Cardano. On the other hand, the overall market should turn upwards again. The second year of the bear market was already in the last cycle a year when prices rose again more strongly from time to time. This may happen again in 2023 as well.
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