Cardano (ADA) has already delivered on some of its promises, such as the completion of its Mary hard fork, which brought with it the ability to introduce non-fungible tokens (NFTs) and smart contract functionality. This, in turn, could open up new use cases for Cardano’s blockchain.
Cardano is also expected to launch a new consensus protocol this year, which will enable it to process up to 10,000 transactions per second. This is much faster than Ethereum’s current speed of 15 transactions per second and would make Cardano an attractive blockchain solution for many businesses and projects.
Further expectations include the introduction of nonsynthetic stablecoins on the Cardano blockchain, which would create a global stablecoin market. This could be a game changer as it may make Cardano an attractive alternative to Ethereum for many projects and businesses in terms of speed and cost-effectiveness.
With the recent mini-surge of Cardano’s native token, $ADA, and the addition of 217.2M coins in the first few weeks of 2023, many investors and analysts are watching Cardano carefully to see if it can live up to its promise this time around. If successful, Cardano could be poised for a major breakout in the years to come.
The coming months will be an exciting ride for Cardano as it has the potential to make major advancements in the cryptocurrency and blockchain space. We will have to wait and see what the future holds for Cardano.
What does technicals suggest about ADA?
The technical analysis of Cardano’s native token, $ADA, suggests that it is currently in an uptrend and could potentially break out to hit new highs. The MACD indicator is indicating a strong bullish signal, while the Relative Strength Index (RSI) is indicating that the coin remains strongly overbought.
Additionally, the trading volume has been steadily increasing, showing that the coin is seeing a lot of buying activity. This suggests that ADA could be headed for higher prices in the near future. However, as with any asset, investors should exercise caution and monitor the market closely before making any investment decisions.
The RSI and MACD analysis should give investors a clearer picture of the path ADA is on and whether it can live up to its promise of delivering real gains in the near future. With the recent mini surge and expectations for more features being developed in the coming months, Cardano’s native token could be headed for a major breakout this year.
Conclusion
Cardano has already made impressive progress with the completion of its Mary hard fork, which introduced non-fungible tokens (NFTs) and smart contract functionality. It is also expected to launch a new consensus protocol this year, which will enable it to process up to 10,000 transactions per second.
