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Will we see another Cardano explosion by the end of 2022?

 


What is Cardano?

Cardano is a cryptocurrency that was founded in 2017 and has quickly become one of the most popular and traded cryptocurrencies in the market . Cardano is characterized by the fact that the network is extremely heavy, efficient and scalable. The project was launched by former Ethereum co-founder Charles Hoskinson.


Cardano Course

The blockchain is characterized by the fact that it combines a high level of security with decentralization and high scalability. Cardano uses the efficient proof-of-stake consensus mechanism and is considered a technically extremely savvy blockchain. The further development takes place under evidence-based methods. Cardano works with a team of scientists.


How has the ADA course developed in recent months?

During the course of 2021, the ADA token, Cardano's network token, was able to reach an all-time high of over $3. The coin achieved this in September 2021. After this all-time high, Cardano continued to fall in value. By November, the price of ADA had already lost about 30%. In November, many other cryptocurrencies only reached their all-time highs.


ADA course 1 year

After November, we saw more sharp price falls. This is when the bear market kicked in. The ADA price continued to fall. At the turn of the year, the rate was only $1.37. The drop was less in the following months. In June, the price then fell below the $0.50 mark and was subsequently able to stabilize.

What were the reasons for Cardano's decline in value?

In September 2021, the Cardano reached an all-time high. This was mainly because the Goguen development phase was completed at that time. The smart contract functions were introduced. After that, however, we saw losses. This was mainly due to the hype surrounding new competitors such as Solana and Avalanche. At the time, these networks were inevitably showing stronger growth.


Since November, Cardano fell victim to the new bear market, following the direction of the entire market. Like almost all other cryptocurrencies, Cardano saw massive losses. Cardano was only able to recover in June and July 2022.


Can Cardano explode again by the end of the year?

After the stabilization of the price of the ADA token, many investors are wondering if Cardano can explode again in the future. Can a massive price increase even take place by the end of 2022?


For such a one. To experience a price increase, a number of factors would have to come together. For one thing, the overall market should see a trend reversal. All cryptocurrencies should see an uptrend. A positive development on the overall market would be the prerequisite for seeing stronger increases in Cardano in the coming months. Because coins can rarely free themselves from the development of the entire market.


Cardano

Furthermore, we need positive news about the ongoing development at Cardano. I n this article , we discussed the Vasil hard fork as a technical novelty at Cardano. The first developments at Basho, the next phase of development, could then soon take place. The scalability should be increased massively. 


If all these factors come together, the ADA price could rise massively again in the coming months.


Should I invest in the ADA token now?

An investment in Cardano's ADA token could be worthwhile right now. The price of the ADA token is extremely low at the moment. If we see gains through year-end, investors could see high returns. If this does not happen or if the price falls even further, the investment still makes sense in the long term. Because the next bull market is almost certain and should drive the ADA price up again massively.

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